Mr. Sheldon Bennett reports

DMG BLOCKCHAIN SOLUTIONS ANNOUNCES Q1 2024 FINANCIAL RESULTS RELEASE DATE, OPERATIONAL AND BOSONIC INVESTMENT UPDATES

DMG Blockchain Solutions Inc. will release financial results for its first quarter 2024 ended Dec. 31, 2023, on Wednesday, Feb. 21, 2024, after the market close. The company will host a conference call to review its results and provide a corporate update on Thursday, Feb. 22, 2024, at 4:30 p.m. ET. Attendees should register in advance.

Additionally, DMG Blockchain announces recent operational updates:

• New mining capacity: In total, DMG Blockchain plans to energize 54 mining containers, which will house its ordered 4,550 units of new Bitmain T21 miners and its currently operating S19 XP miners, along with some of its less efficient legacy fleet. DMG Blockchain has received all the major electrical distribution components and mining containers, which are located either at its Christina Lake data centre facility or with its integration partners. The migration of a portion of its existing miners to containers will free up capacity inside DMG Blockchain's Christina Lake data centre building to expand its immersion cooling infrastructure. Subsequent to the container deployment, DMG Blockchain's total electrical capacity will be approximately double its current Christina Lake building capacity of 36 megawatts.
• New data centre site: Regarding DMG Blockchain's development of a new data centre site with access to low-cost reliable renewable energy located in Canada in a province outside of British Columbia, there has been significant progress toward receiving regulatory approvals for power. In addition, the company is proceeding with its capital outlay plan and is working toward executing a binding agreement. Further information will be provided if and when the definitive agreement and regulatory approvals are obtained for this new data centre site.
• Immersion cooling technology: After a long period of engineering development, DMG Blockchain has ordered its first production environment immersion cooling tanks with the goal to have an initial closed-loop set-up completed in the June, 2024, quarter. Subsequent to this initial buildout, the company will then purchase the rest of the equipment necessary to energize the first 12-megawatt phase. In addition, DMG Blockchain has selected a deployment partner that is located near its Christina Lake facility with which it has a long-standing relationship. For this first phase of immersion cooling, the company intends to operate using primarily legacy miners to prove out the technology.

DMG Blockchain's chief executive officer, Sheldon Bennett, commented: "DMG is making good progress to transform its Christina Lake data centre facility and to proceed with the development of our potential second site that will enable us to grow beyond two-[exahash-per-second] capacity. As we look at how bitcoin mining infrastructure is continuing to evolve, we are staying at the forefront with deployment of immersion cooling technology along with infrastructure for a new generation of highly efficient miners that run on three-phase power."

New loan to Bosonic Inc.

DMG Blockchain announces it has provided a total of an additional $600,000 (U.S.) of debt financing to Bosonic to support its continued development and help enable it to sustain cash-flow-positive operations. As of Sept. 30, 2023, DMG Blockchain had provided $150,000 (U.S.) of debt, and during the three months ended Dec. 31, 2023, DMG Blockchain had provided a further $450,000 (U.S.) of debt to Bosonic. The debt is interest bearing at 7.5 per cent and is due within 18 months.

DMG Blockchain engages Power Mining Analysis Ltd.

DMG Blockchain announces it has engaged Power Mining to support DMG Blockchain's marketing efforts to increase awareness and show how it performs as a bitcoin miner relative to its peer group. Power Mining was founded by Anthony Power and Bryce McNallie, both bitcoin mining industry analysts. This engagement began on Feb. 1, 2024, at a cost of $3,500 (U.S.) per month.

About DMG Blockchain Solutions Inc.

DMG Blockchain is an environmentally friendly vertically integrated blockchain and data centre company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG Blockchain's sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG Blockchain's vertical integration.

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