DMG Blockchain (TSXV: $DMGI) is moving another part of its bitcoin (CRYPTO: $BTC) mining footprint toward AI infrastructure, signing a letter of intent to provide 50 megawatts of critical IT load to a single AI data center colocation tenant at its Christina Lake facility in British Columbia.
The tenant has not been named and remains under a non-disclosure agreement. DMG said the customer is expected to provide an investment-grade backstop for review as the two sides work toward a definitive agreement. However, the company cautioned that there is no ***** urance a final deal will be reached.
The proposed structure points to a longer-term conversion of the site if the agreement moves forward. The initial term would run for 12 years, with renewal rights for up to three additional five-year periods. DMG plans to deliver the colocation capacity in phases, with the first phase targeted by Dec. 31, 2026.
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The tenant has not been named and remains under a non-disclosure agreement. DMG said the customer is expected to provide an investment-grade backstop for review as the two sides work toward a definitive agreement. However, the company cautioned that there is no ***** urance a final deal will be reached.
The proposed structure points to a longer-term conversion of the site if the agreement moves forward. The initial term would run for 12 years, with renewal rights for up to three additional five-year periods. DMG plans to deliver the colocation capacity in phases, with the first phase targeted by Dec. 31, 2026.
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