DMG Blockchain secures a non-binding LOI to convert its Christina Lake facility into a 50 MW AI colocation center by late 2026.
DMG Blockchain Solutions (TSX-V: DMGI) signed a letter of intent to supply 50 megawatts of critical IT load for AI data center colocation at its Christina Lake, British Columbia site. The facility currently operates as a bitcoin mine and would transition to AI services if a definitive agreement is reached.
The LOI includes a 12-month right-of-first-refusal term and targets first-phase delivery by December 31, 2026. The unnamed tenant will provide an investment-grade backstop, with pricing set at current market rates for AI colocation. DMG plans to finance the conversion primarily through debt.
The company first outlined this strategy in December 2025, aiming to monetize the site as a liquid-cooled AI data center. The LOI is non-binding, and no final deal is guaranteed.