The following is a summary of the DMG Blockchain Solutions Inc. (DMGGF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• DMG Blockchain Solutions reported a cash plus Bitcoin balance of $43.6 million, up both 57% quarter-over-quarter and 101% year-over-year.

• Their total assets rose 30% sequentially to $118.4 million.

• The company mined 153 Bitcoins in Q2, sold about 140 Bitcoin generating $10.7 million in cash.

• They posted a positive net income for the second consecutive quarter.

• DMG has a current debt at 7.8% interest rate, positively impacting their capital structure.

Business Progress:

• DMG heavily invested in building a qualified digital asset custodian business, Systemic Trust, set to be completed this calendar year.

• Software development, including an upgraded version of Blockseer Explorer, is in progress.

• DMG invested $600,000 into Bosonic, with its integration already in process with Systemic Trust.

• The planning of Terra Pool's operational software is in place alongside increase in hash rate to 1.7 exahash with new Bitmain T21 miners.

• DMG plans to reduce its energy costs by developing a new data center with access to renewable energy.

• The operational and capital costs were managed to attain a profitable business structure.

• Focus has been shifted towards the Systemic Trust project for better dividends.

• The firm plans to participate in several upcoming conferences such as the World Digital Mining Summit, Mining Disrupt, and Bitcoin 2024.

• They anticipate an industry consolidation following the next halvening, considering access to power resources a key asset.

More details: DMG BLOCKCHAIN SOLUTIONS INC IR

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