DMG Blockchain Solutions, Inc. Q4 FY2024 Earnings Call
· Earnings call transcript and AI-powered summary
DMG Blockchain Solutions Q4 and FY 2024 Earnings Summary
- Quarter End: September 30, 2024
- Revenue: $5.9M, down 29% from $8.3M in Q3 2024; Full-year revenue rose 21% YoY to $33.9M
- Bitcoin Mined: 65 BTC in Q4 (down 26% QoQ due to halving), 503 BTC FY vs 885 BTC in FY 2023 (down 43%)
- Hash Rate: Realized hash rate was 0.98 EH/s in Q4, now running at 1.7 EH/s and targeting 2.1 EH/s by early 2025
- Fleet Efficiency: 24.6 J/TH in Q4 (up 4% QoQ), currently 23 J/TH, targeting 21 J/TH post hydro mining deployment
- Cash + Digital Currencies: $36M, down 9% QoQ, up 90% YoY
- Net Loss: -$8.4M in Q4 (vs -$4M in Q3); FY net loss narrowed to -$5.2M in 2024 from -$6.5M in 2023
- Cash Flow from Operations: $1.3M in Q4 vs -$1.3M in Q3; $8.2M FY (+69% YoY)
- Margin: Q4 mining margin was 21%, down from 44% in Q3. FY margin improved to 42% from 40%
- AI Strategy: Partnership with Malahat Nation for up to 30MW joint AI compute build-out; pilot 15MW expected in Christina Lake in 2025
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