Alpha Compute Corp. Completes Wind-Down of Legacy Digital Asset Treasury, Returns TON Holdings
Rhea-AI Summary
Alpha Compute (Nasdaq: ALP) has initiated the return of the final tranche of approximately $6 million in Toncoin/GRAM to Brisk Thrive and Hogarth Ventures, affiliates of Animoca Brands, removing liabilities tied to TON put options and completing the wind-down of its legacy Digital Asset Treasury and Telegram-focused token-treasury business.
Post-transaction, Alpha Compute reports projected unaudited figures: assets $73.4 million, equity $20.5 million, debt $0.4 million, GPU lease liabilities $34.4 million, 12‑month revenue forecasted run rate $23 million, and 72 million shares outstanding. The company states it no longer holds digital assets as a balance-sheet treasury position and will hold Telegram GRAM only as earned consideration for AI confidential compute delivered to Telegram’s Cocoon AI network, while reaffirming its role as a Web3 compute provider to Telegram’s more than one billion users.
Positive
- ~$6 million in TON/GRAM returned, eliminating TON put-option–related liabilities
- Legacy Digital Asset Treasury line of business formally closed and exited
- Projected unaudited assets of $73.4 million after DAT wind-down
- Projected unaudited equity of $20.5 million and debt of $0.4 million
- Twelve‑month revenue forecasted run rate of $23 million
- Shift to holding GRAM only as earned consideration for delivered compute
Negative
- Projected unaudited GPU lease liabilities of $34.4 million on the balance sheet
News Market Reaction – ALP
In the Jul 10 session, ALP declined 0.63%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 23 | conference participation | Neutral | +3.9% | CEO scheduled to headline Linux Foundation Confidential Computing Summit 2026. |
| Jun 05 | asset update & acquisition | Positive | -1.5% | Reported $79.2M assets and completed 60% GAMEE acquisition with growth plans. |
| May 27 | GAMEE acquisition close | Positive | -1.3% | Closed majority acquisition of GAMEE creating Alpha Games AI gaming division. |
| May 27 | GAMEE deal details | Positive | -1.3% | Detailed majority GAMEE purchase terms including valuation and token transfer. |
| May 21 | operations update | Positive | +10.6% | Mid-Q2 update with $32.2M contract and $21M projected 12‑month revenue. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news has produced mixed reactions, with several operationally positive updates coinciding with both gains and declines in the share price.
Key Terms
digital asset treasury financial
gpu-as-a-service technical
confidential compute technical
trusted execution environment technical
web3 technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Company Exits the Token-Treasury Model in Favor of a Compute-First Balance Sheet; Will Hold Telegram GRAM Solely as Earned Consideration for Confidential Compute Delivered on Telegram’s Cocoon AI Network; Reaffirms Long-Term Commitment to Telegram and Its One Billion+ Users as a Web3 Compute Provider
ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS, July 10, 2026 (GLOBE NEWSWIRE) -- Alpha Compute Corp. (Nasdaq: ALP) (“Alpha Compute” or the “Company”), a technology leader in AI GPU-as-a-Service (GPUaaS) and AI Confidential Compute, today announced that it has initiated the return of the final tranche of locked and liquid Toncoin (TON, now named GRAM) holdings to Brisk Thrive and Hogarth Ventures, affiliates of Animoca Brands.
The return is approximately
From this point forward, the Company will hold Telegram GRAM tokens solely as earned consideration for the AI confidential compute it delivers to Telegram’s Cocoon AI network—tying any token exposure directly to contracted work performed rather than to a speculative investment thesis.
The move completes the Company’s transformation from the treasury-oriented model of its predecessor, AlphaTON Capital Corp., into an operating company built around sovereign AI compute infrastructure.
CLOSING THE TREASURY ERA
The Digital Asset Treasury was a structural feature of the Company’s prior identity as AlphaTON Capital Corp., when holding Telegram-ecosystem tokens on the balance sheet was central to the business model. Following the April 20, 2026 rebrand to Alpha Compute Corp. and the Company’s full strategic pivot to GPU-as-a-Service and confidential computing, the DAT became the last remaining vestige of that capital-vehicle structure.
Today’s announcement retires it. The Company will hold only a minor amount of
A COMPUTE-FIRST BALANCE SHEET
The change is more than cosmetic. Under the treasury model, the Company carried digital assets whose value fluctuated independently of operations, introducing mark-to-market volatility unrelated to the performance of the underlying compute business. By exiting that position, Alpha Compute removes speculative token exposure from its balance sheet and aligns its financial profile with what its shareholders are backing: a revenue-generating AI infrastructure company.
Projected Post DAT wind-down Balance Sheet and Estimated Revenue of Alpha Compute: (unaudited)
- Assets =
$73.4 million - Equity =
$20.5 million - Debt =
$0.4 million - GPU Lease Liabilities =
$34.4 million - Twelve Months Revenue Forecasted Run Rate =
$23 million - Shares Outstanding = 72 million
Going forward, the only Telegram-ecosystem tokens Alpha Compute will hold are GRAM received as payment for compute delivered on the Cocoon network. GRAM will function as consideration for services rendered—earned, contracted, and tied to delivered capacity—rather than as a discretionary asset held for appreciation.
“When we were AlphaTON Capital, a digital asset treasury fit what the company was. Alpha Compute is a different company with a different mandate. Our shareholders are backing an operating compute business, and our balance sheet should reflect exactly that—nothing more, nothing less. Returning the last of our TON closes the book on the treasury era. From here, the only Telegram tokens we hold are GRAM we have earned by delivering compute: consideration for work performed.” — Enzo Villani, Executive Chairman and Chief Investment Officer, Alpha Compute Corp.
CONTINUED COMMITMENT TO TELEGRAM AND COCOON
The wind-down reflects a change in how Alpha Compute participates in the Telegram economy, not whether it participates. The Company remains a committed infrastructure provider to Telegram’s Cocoon AI confidential-computing network, which is being made available to Telegram’s more than one billion users, and continues to deliver Trusted Execution Environment (TEE)-secured inference into that network through its Shroud confidential-compute product.
Alpha Compute’s conviction in the long-term opportunity is unchanged: that confidential, hardware-enforced AI compute—where user data remains private even from the infrastructure operator—is foundational to bringing trustworthy AI to consumer scale. As Cocoon advances through its rollout, Alpha Compute intends to continue serving the network as a Web3 compute client and provider, compensated in the ecosystem’s native unit for the capacity it supplies.
“Our belief in Telegram and in confidential compute has never been stronger. Cocoon puts AI that runs inside hardware-secured trusted execution environments within reach of more than a billion people, with their data kept private by design. Winding down the treasury changes how we participate in the Telegram economy; it does not change that we participate. We remain a dedicated Web3 compute provider to Cocoon, and we will keep delivering the confidential infrastructure that network relies on.” — Brittany Kaiser, Chief Executive Officer, Alpha Compute Corp.
SOVEREIGN INTELLIGENCE BY DESIGN
The decision is consistent with the operating thesis articulated in “The Black Paper,” published on alphacompute.ai, which holds that digital sovereignty is the defining infrastructure challenge of the century. Alpha Compute’s mission is to build the hardware, firmware, and network layer that encodes data ownership as an architectural guarantee—and to run a business whose balance sheet is as disciplined and transparent as the infrastructure it operates.
ABOUT ALPHA COMPUTE CORP. (NASDAQ: ALP)
Alpha Compute Corp. (Nasdaq: ALP) is a high-performance GPU infrastructure and confidential-compute technology company serving the artificial intelligence economy. Alpha Compute operates as a holding company centered on sovereign AI compute. By owning the infrastructure powering modern intelligence, we ensure privacy is strictly enforced at the hardware level. This robust foundation allows us to strategically build and acquire businesses that rely on confidential compute and artificial intelligence.
Our mission is to support clients, subsidiaries, and partners across critical sectors—including finance, defense, intelligence, and media—as they navigate the evolving AI landscape. Alpha Compute provides the essential framework for any organization requiring secure, confidential computing environments. The company is domiciled in the British Virgin Islands with offices in New York, Los Angeles, Miami, Amsterdam, and Toronto.
For more information, please visit: https://www.alphacompute.ai/
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements other than statements of historical fact, including those preceded by, followed by, or incorporating words such as "believes," "expects," "anticipates," "intends," "estimates," "plans," "may," "will," "potential," "continues," or similar expressions are forward-looking statements.
Forward-looking statements in this release include, without limitation: the expected timing and go-live dates for Alpha Compute's GPU cluster deployments; projected revenue from the Company's AI infrastructure buildout; anticipated benefits from the Company's confidential compute partnerships and infrastructure expansion; and the Company's broader business strategy and operational plans.
These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied, including: the timing and progress of the Company's strategic initiatives; reliance on third-party vendors and partners; the ability to secure additional financing; uncertainty around the Company's investments and legacy business; risks related to technology platforms and ecosystems; and general market and economic conditions. A more complete discussion of these risks is set forth under "Item 3 - Key Information - Risk Factors" in the Company's Annual Report on Form 20-F for the year ended March 31, 2025, and in the Company's Forms 6-K filed with the Securities and Exchange Commission on September 3, 2025 and January 13, 2026.
Undue reliance should not be placed on these forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release, and the Company undertakes no obligation to update or revise them publicly, except as required by law.
Investor & Media Contact
Alpha Compute Corp.
ir@alphacompute.ai
www.alphacompute.ai
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