DMG Blockchain Signs 50 MW AI Data Center LOI at Christina Lake

CryptoProwl

Mon, June 1, 2026 astatine 10:26 AM CDT 2 min read

DMG Blockchain (TSXV: $DMGI) is moving different portion of its bitcoin (CRYPTO: $BTC) mining footprint toward AI infrastructure, signing a missive of intent to supply 50 megawatts of captious IT load to a azygous AI information halfway colocation tenant astatine its Christina Lake installation successful British Columbia.

The tenant has not been named and remains nether a non-disclosure agreement. DMG said the lawsuit is expected to supply an investment-grade backstop for reappraisal arsenic the 2 sides enactment toward a definitive agreement. However, the institution cautioned that determination is nary assurance a last woody volition beryllium reached.

The projected operation points to a longer-term conversion of the tract if the statement moves forward. The archetypal word would tally for 12 years, with renewal rights for up to 3 further five-year periods. DMG plans to present the colocation capableness successful phases, with the archetypal signifier targeted by Dec. 31, 2026.

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The LOI includes monthly recurring charges and yearly escalations that the institution said bespeak existent marketplace rates for AI colocation. DMG besides expects indebtedness to beryllium the superior financing method for the superior required if a definitive statement is completed.

The update keeps DMG wrong a broader displacement among listed crypto miners trying to crook powerfulness entree and information halfway operations into AI compute capacity. Christina Lake volition proceed to run chiefly arsenic a bitcoin mining tract during the dialog period, but a signed statement would determination the installation toward AI colocation services for the tenant.

A 50-megawatt tenant would springiness DMG a clearer commercialized way for Christina Lake arsenic AI request pulls much miners toward higher-margin infrastructure uses.

The LOI besides gives the tenant a 12-month close of archetypal refusal if DMG intends to judge an connection from different 3rd party. Outside of that right, the NDA and non-circumvent terms, the LOI is non-binding.

DMG Blockchain Solutions Inc. (TSXV: DMGI) is presently trading astatine C$0.375 per share.