07:53 AM EDT, 05/23/2024 (MT Newswires) -- DMG Blockchain Solutions ( DMGGF ) , a blockchain and data center technology, which saw its shares drop more than 7% yesterday, reported a second-quarter profit as revenue rose by almost a third, driven by a 39% increase in self-mining revenue.

The company said overnight Wednesday that it swung to second-quarter net income of $2,000, or $0.00 per share, from a net loss of $3.8 million, or $0.02 per share, a year earlier.

Revenue for the quarter ended March 31 was $10 million, up from $7.6 million a year ago. The increase was mainly due to the increase in digital currency mining revenue as a result of Bitcoin price increasing 133% over the year-ago period to an average of $71,851 in the March quarter.

As of March 31, the company had $1.6 million in cash, $42 million in digital currency and total assets of $118.4 million.