Sheldon Bennett says the future of his company lies not in abandoning crypto, but in redefining what a power-to-server business can become.
In a wide-ranging interview with InvestorNews.com host Christopher Ecclestone, Bennett, CEO and Director of DMG Blockchain Solutions Inc. (TSXV: DMGI | OTCQB: DMGGF), described a company that began as a pure-play Bitcoin miner and is now positioning itself as an emerging player in artificial intelligence infrastructure, sovereign data centers, and what he characterizes as national “defense storage.”
“Fundamentally, we take power and we put it into servers,” Bennett said. “That’s really what a Bitcoin miner does. And out of that power into servers, we get Bitcoin.” The shift to AI, he explained, is conceptually similar. “You put power into servers—just a different type, GPUs. And instead of getting Bitcoin out, we would get paid in fiat currency.”
DMG, which calls itself “a sustainable, vertically integrated blockchain and data center technology company,” operates across two strategic pillars—Core and Core+—and owns a digital asset custody subsidiary, Systemic Trust Corporation, in Alberta. Bennett noted that DMG was “actually the first Bitcoin miner to be listed in Canada,” and that the company is approaching its 10-year anniversary after spending “the last eight years or so… very strongly on Bitcoin mining.”
That history has come with volatility. “Crypto is a very volatile asset in many different ways,” Bennett said. “The ups have been great, the downs have been tough.” He put the company’s current market capitalization at “somewhere around $50 million,” compared with a peak of “about $500 million.” At one point, he added, “we used to… be a $5 stock.”
The financial results released December 18, 2025, reflect operational growth. Full-year 2025 revenue rose 40% to $47.3 million from $33.9 million in 2024. Cash flow from operations increased 97% to $16.2 million. Year-end cash, short-term investments and digital assets reached $65.2 million, up 81% from the prior year. The company mined 344 bitcoin during the year and ended with 342 bitcoin on its balance sheet. Net loss was $10.3 million, while comprehensive income rose to $11.3 million.
“In 2025, we positioned the Company to enter the high-value Artificial Intelligence (AI) infrastructure market,” Bennett said in the release, adding that DMG cultivated relationships with “the Canadian government, enterprises and Indigenous communities to capture unique sovereign AI opportunities.”
In the interview, he framed the pivot as a deliberate effort to diversify revenue streams. “Part of our goal getting into the AI data center business is to decouple ourselves from just moving with Bitcoin,” he said. “So we have revenue and assets that are decoupled from Bitcoin.”
The vehicle for that repositioning will be a new operating focus under the banner of DMG Infrastructure. “We will spend more time in 2026 talking about DMG Infrastructure versus DMG Blockchain,” Bennett said. AI data center assets will move under that structure, while blockchain-specific assets remain within DMG Blockchain. “Blockchain-specific assets and business will stay in DMG Blockchain. AI data center–specific assets and operations will be in DMG Infrastructure.”
The name itself, he acknowledged, reflects an earlier era. “When we went public, our bankers said… ‘blockchain’s hot. You’ve got to put the word blockchain in.’” Now, he said, there has been “discussion of should we just take the blockchain out and be more general,” though the current plan is to emphasize DMG Infrastructure without immediately renaming the parent company.
Canada is central to the strategy. Asked about growth rates, Bennett agreed that “in the U.S. it moves faster,” but argued that Canada holds structural advantages. “Our climate is better—it’s cooler—which is great as a cost of operations,” he said. The country also has “a lot of fiber, a lot of infrastructure, a highly educated workforce,” and experience with “large resource projects in small towns that work well.”
He introduced another theme likely to gain traction: data sovereignty and defense storage. “You’re going to hear more and more countries talking about data sovereignty,” Bennett said. Governments, he argued, will increasingly ask how to “build world-class data centers in my country that hold my data for my citizens and my government authorities, my defense—whatever it may be.”
That debate, in his view, is about taxation and economic development as much as technology. “Governments care about taxation. They care about jobs. They care about the living standard of their country,” he said. “At the end of the day, I’m repatriating all the profits from another country into Canada and paying CRA.”
Energy remains the gating factor. “Canada needs more power. It needs to create more generation,” Bennett said, noting that AI’s appetite for electricity has outpaced historical investment trends. He pointed to hydro, wind and solar as preferred sources, while acknowledging Alberta’s gas resources and the broader North American debate over fossil fuels versus renewables. “When you look at some of the biggest companies in the world that want to build these data centers and operate them, they do care what their power generation source is,” he said.
As for crypto, Bennett was clear that it remains foundational. “I don’t think crypto is going away,” he said, describing it as “a tough business… but it can be a very lucrative business if you take a long-term approach.” The difference, he argued, is risk profile. “Crypto has got great returns. The ROI is quick, but it’s very volatile.” By contrast, AI infrastructure offers “better returns for our invested capital over a longer period of time and less volatile returns. They’ll be more stable.”
“The market sees us as dominant in Bitcoin and crypto,” Bennett said. “We see ourselves as evolving our primary asset—which is a Bitcoin mine—into a primary asset which is an AI inference center.”
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