DMG Blockchain Solutions, Inc. Q4 FY2024 Earnings Call

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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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Operator: Ladies and gentlemen, thank you for standing by. Good afternoon, and welcome to the DMG Blockchain Solutions Q4 and Full Year 2024 Update Conference Call. Participants of this call are advised that the audio of this conference call is being broadcast live over the Internet and is also being recorded for playback purposes. A webcast replay of the call will be available on the company's website. Joining us today from DMG Blockchain Solutions is Sheldon Bennett, the company's Chief Executive Officer; and Steven Eliscu, Chief Operating Officer. During this call, management will be making forward-looking statements, including statements that address DMG Blockchain Solutions' expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors described in DMG Blockchain Solutions' most recently filed periodic reports and the company's recent press releases, particularly the cautionary statements within. The content of this call contains time-sensitive information that is accurate only as of today, December 19, 2024. Except as required by law, DMG Blockchain Solutions disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. It is now my pleasure to turn the call over to Sheldon and Steven. Sheldon? Sheld

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