DMG Blockchain Solutions reports revenue increase, net loss, and growth initiatives in Q1 2025.

From GlobeNewswire: 2025-03-03 18:10:56

DMG Blockchain Solutions Inc. reports its fiscal first quarter 2025 financial results, with revenue totaling $11.6 million, a 97% increase from the previous quarter. The company mined 97 bitcoin during this period, with a hashrate of 1.62 EH/s. Cash and digital assets stood at $58.2 million, reflecting a 62% increase from the previous quarter. The net loss per share was -$0.02 for Q1 2025. DMG’s CEO, Sheldon Bennett, highlights the progress made in achieving the company’s Core+ strategy and Generative Artificial Intelligence goals. They are focused on growing their hashrate and revenue, expanding AI initiatives, and working on a carbon-neutral Bitcoin ecosystem.

The company’s financial review for Q1 2025 shows revenue increased by $1,942,061 from Q1 2024, driven by digital currency mining revenues. Operating and maintenance expenses rose to $6,679,843, with research costs and general administrative expenses also increasing. Net income decreased to a net loss of $3,103,001 for Q1 2025. Total assets as of December 31, 2024, were $137,128,716, with a significant increase in digital currency balances. DMG sold 78 bitcoin in Q1 2025, generating $7,305,976 in cash.

The company will host a conference call on March 4, 2025, to discuss its results and corporate update. Future changes in Bitcoin network-wide mining difficulty or hashrate could impact DMG’s Bitcoin production and operating results. DMG’s forward-looking statements emphasize the importance of market conditions, competition, regulatory uncertainties, and other factors that may affect the company’s performance. Investors are advised to exercise caution and not rely solely on forward-looking information provided by the company.



Read more at GlobeNewswire: DMG Blockchain Solutions Reports First Quarter 2025 Results