The $1.1B contracted revenue and $150M cash position provide a strong foundation for the AI infrastructure buildout. Monitor Phase 1 delivery in December 2026 and progress on debt financing with Goldman Sachs. Q3 2026 revenue is expected to increase significantly — watch for that confirmation as a near-term catalyst.
Price Chart
Executive Summary
Digi Power X reported Q2 2026 revenue of $6.6M (down slightly from Q1's $6.8M) and a GAAP net loss of $14.4M, but generated its first AI compute revenue ($1.1M from GPU bare-metal rental) and positive Adjusted EBITDA of $3.3M. The company highlighted $1.1B in contracted AI data center future revenue (expandable to $2.5B), $150M cash with zero debt, and a 2027 revenue run-rate target of $250-300M, marking a clear inflection point in its transition from legacy mining to AI infrastructure.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of approximately $6.6 million, including $1.1 million from first AI compute (GPU bare-metal rental)
- GAAP net loss of $14.4 million; positive Adjusted EBITDA of $3.3 million vs $0.1 million in prior-year period
- $1.1 billion of contracted AI data center future revenue, with option to expand to $2.5 billion
- Cash and cash equivalents of $142.4 million at June 30, 2026, subsequently increased to ~$150 million
- Approximately $30 million invested in GPU infrastructure (0.6 MW deployed); B300 GPUs at 100% uptime since May 2026
- Phase 1 of Alabama Tier III data center (15 MW) expected December 2026; Phase 2 (25 MW) March 2027
- 2027 outlook: targeting annualized revenue run-rate of $250-300 million by Q3 2027
- Engaged Goldman Sachs to assist in syndicating debt financing for Alabama data center
- US Data Centers Inc. subsidiary raised outside capital at $125M pre-money valuation; Digi Power X owns ~48%
Financial Impact
First AI compute revenue of $1.1M; $1.1B contracted future revenue; $150M cash; zero debt
Risk Factors
- Execution risk on Alabama data center delivery schedule (Phase 1 Dec 2026, Phase 2 Mar 2027)
- Financing risk for Phase 2 and additional GPU expansion; debt syndication may not close on favorable terms
- Customer concentration risk from single large colocation agreement
- Transition from legacy mining revenue may continue to pressure near-term reported revenue
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-089450 |
| Document: ea0301730-8k_digi.htm | 0001213900-26-089450 |
| Document: 0001213900-26-089450-index-headers.html | 0001213900-26-089450 |
| Document: 0001213900-26-089450-index.html | 0001213900-26-089450 |
| Document: 0001213900-26-089450.txt | 0001213900-26-089450 |
| 8-K Data (Synthetic) | 0001213900-26-089450 |
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