Q2 2026 Financial Results Highlights
Revenue: $7.3 million, down 35% from $11.2 million in Q1 2026 and down 42% from $12.6 million in Q2 2025
Bitcoin Mined: 69 bitcoin, flat versus Q1 2026 and down 25% from 91 bitcoin in Q2 2025
Hashrate: 1.70 EH/s, down 4% from Q1 2026 with fleet efficiency of 21.4 J/TH, a 3% improvement
Cash, Short-term Investments and Digital Assets: $47.4 million at the end of Q2 2026, down 19% from $58.6 million at the end of Q1 2026
Total Assets: $109.9 million at the end of Q2 2026, down 10% from $122.0 million at the end of Q1 2026
Net Income: -$3.5 million or -$0.02 per share
DMG's CEO, Sheldon Bennett, commented, "In Q2 2026, we continued to sharpen our focus on our two strategic pillars: our Core data center operations and our Core+ Digital Asset Financial Services. Much of our effort continues to be on how adeptly we can convert our Christina Lake, BC facility to an AI data center capable of providing at least 50 megawatts of critical IT load, and we are encouraged by what we see in the market. With respect to Systemic Trust, we continue to build out the platform to offer a broad range of services that we believe will provide the best chance of success. We remain committed to these strategic initiatives, which we anticipate will deliver the most value to our shareholders."
Second Quarter 2026 Financial Results Review
Revenue for Q2 2026 was $7.3 million, compared to $12.6 million in Q2 2025. The decrease in revenue is attributable to a decrease in digital currency mining revenue of $4.9 million, which is primarily the result of a decrease in both the amount of digital currency mined and the average price of digital currency.
Operating and maintenance expenses for Q2 2026 were $5.2 million, compared to $7.6 million for Q2 2025. This decrease is primarily due to a $2.2 million decrease in utilities expenses driven by favorable non-firm electricity rates realized during the recent period and the retirement of inefficient digital currency miners.
General and administrative costs for Q2 2026 were $1.3 million, compared to $1.9 million for Q2 2025. General and administrative costs consist mostly of wages, professional fees, consulting fees and financing costs. The overall decrease of $0.6 million is attributable mainly to a decrease in consulting expenses and professional fees over the prior period.
Depreciation for Q2 2026 was $2.8 million compared to $4.3 million for Q2 2025. The relatively low level of recent additions has limited the offsetting impact on depreciation expense, contributing to the lower depreciation expense for the current period.
Net loss for Q2 2026 was $3.5 million compared to a net loss of $3.3 million for Q2 2025.
Total assets as of March 31, 2026 were $109.9 million (September 30, 2025 - $132.0 million), a decrease of $22.1 million. The decrease is mostly attributable to a $16.7 million change in the fair value of digital currency balances between the periods, as well as a reduction in property and equipment of $6.2 million, which resulted from normal course depreciation and the disposition of decommissioned miners, which was not offset by property and equipment additions during the period.
Second Quarter 2026 Results Conference Call Details
The Company will host a conference call to review its results and provide a corporate update on May 27, 2026 at 4:30 PM ET. Participants should register for the call via the link.
In addition to a live Q&A session via chat, management will also address pre-submitted questions. Those wishing to submit a question may do so via email at [email protected], using the subject line ‘Conference Call Question Submission,' through 2:00 PM ET on May 27, 2026.
About DMG Blockchain Solutions Inc.
DMG is a sustainable, vertically integrated digital asset and data center technology company that develops, manages, and operates comprehensive platform solutions to monetize the blockchain and artificial intelligence (AI) ecosystems. The Company's operations are driven by two strategic pillars: Data Center Infrastructure (Core) and Digital Asset Software and Services (Core+). DMG is expanding its platform to include AI and sovereign compute solutions, supporting government, enterprise and research organizations across Canada.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.comFollow @dmgblockchain on X and subscribe to DMG's YouTube channel.
For further information, please contact:
On behalf of the Board of Directors,
Sheldon Bennett, CEO & DirectorTel: +1 (778) 300-5406Email: [email protected]Web: www.dmgblockchain.com
For Investor Relations:[email protected]
For Media Inquiries:[email protected]
DMG Blockchain Solutions Inc.Condensed Consolidated Interim Statements of Financial Position(Expressed in Canadian Dollars)
Notes
As atMarch 31,2026(unaudited)
As atSeptember 30,2025(audited)
ASSETS
$
$
CurrentCash and cash equivalents
546,969
1,681,448
Amounts receivable
6
4,476,153
4,045,161
Digital currency
5
37,772,511
54,440,600
Prepaid expense and other current assets
199,801
330,077
Marketable securities
8
137,313
479,426
Short-term investments
9
9,116,500
9,116,500
Assets held for sale
10
30,408
30,408
Total current assets
52,279,655
70,123,620
Long-term deposits
11
257,411
138,415
Property and equipment
13
47,299,821
53,450,285
Intangible assets
12
2,602,490
1,181,414
Long-term investments
14
45,000
45,000
Amount recoverable
7
7,459,747
7,091,351
Total assets
109,944,124
132,030,085
LIABILITIES AND SHAREHOLDERS' EQUITY
CurrentTrade and other payables
15
5,622,567
6,370,626
Deferred revenue
31,272
-
Current portion of lease liability
16
86,595
106,619
Current portion of loans payable
17
18,922,091
10,885,374
Total current liabilities
24,662,525
17,362,619
Long-term lease liability
16
47,320
78,296
Total liabilities
24,709,845
17,440,915
Shareholders' EquityShare capital
18(a)
121,833,826
121,210,082
Reserves
18(b-d)
56,605,681
56,316,695
Accumulated other comprehensive income
7,496,171
32,056,444
Accumulated deficit
(100,701,399
)
(94,994,051
)
Total shareholders' equity
85,234,279
114,589,170
Total liabilities and shareholders' equity
109,944,124
132,030,085
Contingencies
24
Subsequent event
26
DMG Blockchain Solutions Inc.Condensed Consolidated Interim Statements of Loss and Comprehensive Loss(Expressed in Canadian Dollars, except for number of shares)(Unaudited)
Notes
2026
2025
2026
2025
$
$
$
$
Revenue
20
7,311,150
12,644,574
18,485,299
