DMG Blockchain Solutions, Inc. Q1 FY2025 Earnings Call
· Earnings call transcript and AI-powered summary
- Date: March 4, 2025
- Participants: Sheldon Bennett (CEO), Steven Eliscu (COO)
- Quarter Covered: Q1 Fiscal 2025 (December 2024 quarter)
Financial Highlights
- Revenue: $11.6M, up 97% sequentially from $5.9M in Q4 2024.
- Net Income: -$3.1M (-$0.02/share), improved from -$0.05/share in Q4 2024.
- Cash + Digital Assets: $58.2M, up 62% QoQ and 110% YoY.
- Bitcoin Mined: 97 BTC, up 49% from prior quarter.
- Hash Rate: Reached 1.62 EH/s in Q1; currently at 1.8 EH/s and targeting 2.1 EH/s near-term and 3 EH/s by end of 2025.
- Fleet Efficiency: Improved to 22.9 J/TH; targeting 21 J/TH with new hydro miners.
- EBITDA (before other items): $2.6M (22% margin), up from -$1M in Q4 2024.
Strategic Initiatives and Operational Updates
- Systemic Trust: Now a qualified digital asset custodian (1 of 3 in Canada). Initial customers targeted for onboarding by June 2025 with revenue ramp expected by year-end.
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