Feb 27, 2025 | Posted by Abdul-Rahman Oladimeji
Crypto firm DMG Blockchain Solutions Inc. this week announced it has signed a memorandum of understanding (MoU) with an undisclosed counterparty to purchase the infrastructure for 10MW worth of prefabricated air-cooled data centers for its deployment of generative AI facilities.
Upon execution of the definitive agreement, DMG would pay the counterparty $5 million as an upfront payment and the balance of the to-be-agreed-upon price based on future DMG revenue from AI computing agreements as part of vendor financing being offered to DMG.
DMG’s CEO Sheldon Bennett, said: “This MoU catalyzes our entry into generative AI in a very meaningful way. Not only does the PDC [prefabricated data center] shorten our time to deployment by at least a year, but it also gives us the needed credibility as a new AI entrant to secure off-take agreements in a timely manner.”
He continued: “Given the SCIF nature of the infrastructure, we will be focused on off-take opportunities that prioritize this need, as we believe we can garner a revenue premium for offering this capability. This MoU also enables us to proceed with our generative AI strategy in a most capital-efficient manner, helping us to maximize our return to shareholders.”
