07:43 AM EDT, 05/22/2025 (MT Newswires) -- DMG Blockchain Solutions ( DMGGF ) overnight Wednesday said it swung to loss in the second quarter even as revenue rose.

The company reported a net loss of $3.3 million, or $0.02 per basic and diluted share, for the three months ended March 31, compared with net income of $2,215, or breakeven per share, a year earlier.

Revenue increased to $12.6 million compared with $10 million. The company said it mined 91 bitcoin in Q2, down from 97 bitcoin in the prior quarter.

"In Q2, we continued to increase our Bitcoin mining hashrate, as we deployed our hydro direct-liquid-cooled miners," said DMG Chief Executive Sheldon Bennett. "Finally, the Systemic Trust, our digital asset custody platform, is currently focused on building on its platform development execution to gain customer adoption, ramp revenue and broaden its platform capabilities throughout calendar 2025."

Shares of the company closed unchanged at $0.30 on Wednesday on the TSX Venture Exchange.