Digi Power X Reports Q3 2026 Revenue Up 85% and AI Revenue Up Over 400% Compared to Q2

Rhea-AI Summary

Digi Power X (DGXX) reported third-quarter 2026 revenue of $12.25 million, up 85% from the previous quarter. Revenue rose 50% year over year. AI revenue reached $5.66 million, up more than 400% sequentially. Net income was $1.0 million, supported materially by digital currency and warrant valuation gains; the GAAP gross loss narrowed to $2.41 million from $5.48 million sequentially.

Quarter-end cash, cash equivalents and digital currencies totaled $119.64 million, with no borrowings. The company expects Columbiana Phase 1 billing in January 2027 following commissioning, and targets Phase 2 tenant access in March 2027. Its proposed $200 million financing remains subject to documentation and lender diligence. Digi Power X targets a $250–300 million annualized revenue run-rate by the end of Q3 2027, subject to financing and market conditions, alongside approximately $350 million in planned 2027 capital spending.

23 points · 3 major

PositiveiHow this balance works

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0 major · 10 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointCerebras' ten-year Phase 1 agreement provides approximately $402 million in aggregate colocation fees. 1.8× market cap
• Major point. Forward-looking: it has not happened yet and may not happen.Approximately $250–300 million annualized revenue is targeted by the end of Q3 2027.
• Major point. Forward-looking: it has not happened yet and may not happen.Approximately $350 million planned 2027 capital spending targets approximately 10 MW of inference capacity and Columbiana Phase 2.
• Moderate pointQ3 revenue of $12.25 million increased 85% sequentially and 50% year over year.
• Moderate pointAI revenue of $5.66 million rose more than 400% sequentially, versus nil a year earlier.
• Moderate pointGAAP gross loss narrowed to $2.41 million from $5.48 million sequentially, but remained a loss.
• Moderate pointNet income of $1.0 million reversed Q2's $14.36 million loss and exceeded $0.1 million a year earlier.
• Moderate pointNon-GAAP EBITDA reached $6.5 million, versus $1.7 million a year earlier.
• Moderate pointWorking capital reached $103.0 million, versus $17.5 million a year earlier.
• Moderate pointNet fixed assets reached $145.6 million, versus $73.24 million sequentially and $19.5 million a year earlier.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Columbiana Phase 1 billing is expected in January 2027 following commissioning starting December 15, 2026.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Proposed $200 million project financing would support Columbiana completion and related project costs. 89% of market cap

11 minor points

• Minor pointGPU rental revenue of $2.46 million increased 127% sequentially, versus nil a year earlier.
• Minor pointEnergy revenue of $3.29 million increased 68% sequentially and 9% year over year.
• Minor pointBasic and diluted EPS reached $0.01, versus a $0.17 loss in Q2 2026.
• Minor pointNon-GAAP adjusted EBITDA reached $0.6 million, versus negative $1.0 million a year earlier.
• Minor pointNo outstanding borrowings remained at quarter-end, unchanged from Q2 2026.
• Minor pointShareholders' equity reached $279.9 million, versus $265.03 million in Q2 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.Columbiana Phase 2 construction is underway, with tenant access targeted for March 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.NeoCloudz Token Factory launched; Digi Power X expects direct AI token sales to generate higher margins.
• Minor point. Forward-looking: it has not happened yet and may not happen.New York AI conversions are targeted to begin in Q3 and Q4 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.North Carolina development plans contemplate approximately 75 MW in 2029 and an additional 75 MW in 2030.
• Minor point. Forward-looking: it has not happened yet and may not happen.Aggregate power capacity could exceed 400 MW if Digi Power X fully realizes its development plans.

Negative

• Moderate pointCash, cash equivalents and digital currencies fell $22.78 million sequentially to $119.64 million.
• Moderate pointNet income depended materially on valuation gains, including $7.1 million from cryptocurrency and $1.5 million from warrants.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Columbiana Phase 2 remains conditional, including on adequate financing; approximately $58.5 million annual fees depend on commencement.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Proposed $200 million financing remains unclosed, with Q4 2026 closing expected subject to documentation and lender diligence. 89% of market cap
• Moderate pointUS Data Centers' independent fundraising dilutes Digi Power X's approximately 48% interest, without Digi Power X capital contributions.
• Moderate pointWest Virginia power opportunity remains at letter-of-intent stage, involving a 1.3 GW generation asset.

4 minor points

• Minor pointLegacy Bitcoin activities declined to approximately 27% of revenue from approximately 63% a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.Proposed project financing includes an unsecured company guarantee through project completion and other limited matters.
• Minor point. Forward-looking: it has not happened yet and may not happen.2027 revenue target depends on financing and market conditions; additional capacity remains in development and customer negotiations.
• Minor point. Forward-looking: it has not happened yet and may not happen.2027 capital plan depends principally on customer funding and debt, including the proposed $200 million facility.

News Explained

The disclosed contract economics are $402 million for Phase 1, versus $1.07 billion only if conditional Phase 2 commences.

Digi Power X says its NeoCloudz Token Factory is live and sells AI inference directly to customers, adding a direct-sales channel to its GPU and data-center operations.

Its ten-year take-or-pay agreement with Cerebras covers Phase 1 (15 MW), with average annual fees of about $40 million and aggregate fees of about $402 million; billing is expected to begin in January 2027 after commissioning.

Phase 2 (25 MW) would add about $58.5 million in annual fees and bring total contract value to about $1.07 billion only if conditions are met and both phases commence.

The borrowing is planned at a project-level special-purpose vehicle, with an unsecured company guarantee through project completion and certain limited matters; proceeds are intended for Columbiana completion and related costs. US Data Centers is independently raising capital, which will further dilute Digi Power X’s approximately 48% interest, without a Digi Power X capital contribution or issuance of Digi Power X shares.

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Details

Market move: DGXX +4.07% vs previous close. Q3 2026 earnings report

+5.0% Peak in 10 min

$2.24 – $2.33 Day Range

$233.22M Mkt Cap at Last Price

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Key Figures

Q3 revenue: $12.25 million; up 85% AI revenue: $5.66 million; up more than 400% Quarter-end cash and borrowings: $119.64 million; no outstanding borrowings +5 more

Q3 revenue

$12.25 million; up 85%

Compared with the previously completed fiscal quarter

AI revenue

$5.66 million; up more than 400%

Q3 2026; 46.2% of total quarterly revenue

Quarter-end cash and borrowings

$119.64 million; no outstanding borrowings

Cash, cash equivalents and digital currencies at Q3 2026 quarter-end

Phase 1 contract fees

Approximately $40 million per year; approximately $402 million total

15 MW under the 10-year Cerebras agreement

Conditional Phase 2 contract fees

Approximately $58.5 million annual fees; approximately $1.07 billion combined total contract value

Additional 25 MW; subject to conditions and commencement of both phases

Project-level debt financing

$200 million

Closing expected in Q4 2026, subject to definitive documentation and conditions

Annualized revenue run-rate outlook

Approximately $250 million to $300 million

Expected by the end of Q3 2027; subject to adequate financing and other conditions

Planned capital expenditures

Approximately $350 million

2027; expected to be funded principally through customer deposits and debt financing

Previous AI Reports

2 past events · Latest: Oct 13

Same Type 2 events

1. Oct 13

   Debt financing

   24h Move

   -2.0%

   The previously announced $200 million project-level financing commitment remains pending definitive documents and conditions.

2. May 05

   AI colocation agreement

   24h Move

   +29.4%

   The 10-year Cerebras agreement's Phase 1 and conditional Phase 2 fees are now detailed.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

md&a, ebitda, adjusted ebitda, non-gaap, +1 more

5 terms

md&a financial

"management's discussion and analysis ("MD&A")"

Management’s Discussion and Analysis (MD&A) is a section of a company’s financial filing where executives explain recent results, the reasons behind changes, risks faced, and expectations for the future in plain language alongside the numbers. Investors use it like an owner’s narrative to understand the story behind the raw financial data — what drove performance, potential pitfalls, and management’s plans — helping judge whether the company’s numbers are likely to improve or worsen.

ebitda financial

"EBITDA and Adjusted EBITDA (both non-GAAP)"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

adjusted ebitda financial

"EBITDA and Adjusted EBITDA (both non-GAAP)"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

non-gaap financial

"EBITDA and Adjusted EBITDA (both non-GAAP)"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

take-or-pay financial

"ten-year take-or-pay colocation agreement with Cerebras"

A take-or-pay clause is a contract term that requires a buyer to either take delivery of an agreed amount of a product or pay a penalty if they do not. For investors, it matters because it creates predictable revenue for the seller—like a subscription fee that must be paid whether fully used or not—reducing sales volatility but also introducing counterparty risk if the buyer’s ability to pay is uncertain.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MIAMI, FL / ACCESS Newswire / November 13, 2026 / Digi Power X Inc. (Nasdaq:DGXX)(Cboe Canada:DGX) ("Digi Power X" or the "Company"), an AI data center infrastructure operator, today reported its financial and operating results for the third quarter ended September 30, 2026 (all amounts in U.S. dollars, unless otherwise indicated). The Company's quarterly report on Form 10-Q, which includes unaudited consolidated financial statements and management's discussion and analysis ("MD&A") for the quarter ended September 30, 2026, is being filed and made accessible under the Company's continuous disclosure profile on SEDAR+ at www.sedarplus.ca and will also be available on EDGAR at www.sec.gov/edgar.

Third Quarter 2026 Highlights

All amounts in U.S. dollars (millions)

• Revenue of $12.25 million, up 85% from the previously completed fiscal quarter and an increase of 50% compared to the quarter ended September 30, 2025;
• $119.6 million in cash, cash equivalents and digital currencies, $103.0 million of working capital and no outstanding borrowings at quarter end;
• Columbiana Phase 1 tenant access and commissioning expected on December 15, 2026, with billing expected to begin in January 2027. Phase 2 construction is underway, with tenant access targeted for March 2027, subject to various conditions;
• Net income of $1.0 million ($0.01 per share), materially supported by digital currency and warrant valuation gains, compared to a net income of $0.1 million for the quarter ended September 30, 2025;
• Closing of proposed $200 million credit facility syndicated by Goldman Sachs currently expected in Q4 2026, subject to definitive documentation and various conditions;
• EBITDA¹ of $6.5 million and Adjusted EBITDA² of $0.6 million (both non-GAAP), versus $1.7 million and negative $1.0 million, respectively, compared to the quarter ended September 30, 2025;
• AI revenue³ of $5.66 million, up more than 400% over the previous fiscal quarter and representing 46% of total quarterly revenue, compared with nil AI revenue in the quarter ended September 30, 2025. GPU rental revenue increased 127% from the previously completed fiscal quarter to $2.46 million, compared with nil GPU rental revenue in the quarter ended September 30, 2025;
• 2027 Outlook: annualized revenue run-rate of approximately $250-300 million anticipated by the end of Q3 2027, subject to adequate financing and market conditions. Planned 2027 capex of approximately $350 million is expected to be funded principally through customer deposits and contract-backed debt, designed to minimize shareholder dilution.

¹ EBITDA is a non-GAAP financial measure presented as a supplement to GAAP results. See "Adjusted EBITDA-GAAP Reconciliation" and "Non-GAAP Financial Measures" below.
² Adjusted EBITDA is a non-GAAP financial measure presented as a supplement to GAAP results. See "Adjusted EBITDA-GAAP Reconciliation" and "Non-GAAP Financial Measures" below.
³ For a breakdown of AI revenue, see "Third Quarter Summary - Revenue Mix" below.

Management Commentary

"Our third-quarter results demonstrate that Digi Power X's transformation into an AI infrastructure company is beginning to take hold. Revenue increased 85% over the previous quarter, and AI now accounts for nearly half of our business, all before the expected start of Columbiana colocation billing in January 2027.

Our next priority is execution: bringing Columbiana into service, expanding our compute capacity and

converting our power assets into long-term contracted revenue. We ended the quarter with approximately $120 million in cash, cash equivalents and digital currencies and no outstanding borrowings, giving us a strong foundation for this next phase.

We are building this business with a clear focus on value per share. Our approach is to secure bankable

customer commitments, deploy capital against attractive returns and fund expansion principally through customer contributions and contract-backed financing. Our ambition is substantial, and our discipline is equally clear: grow recurring revenue and cash generation while minimizing shareholder dilution."

- Michel Amar, Chairman & Chief Executive Officer, Digi Power X Inc.

Columbiana: Contracted Revenue Ahead

The Company's ten-year take-or-pay colocation agreement with Cerebras, its AI colocation tenant at its Columbiana, Alabama campus is expected to provide annual fees for Phase 1 (15 MW) averaging approximately $40 million per year over the ten-year term, for an approximate aggregate total of $402 million. Subject to satisfaction of various conditions, Phase 2 (25 MW) would add approximately $58.5 million in annual fees, bringing combined average annual fees to approximately $107 million per year, and total contract value to approximately $1.07 billion if both phases commence, with an option to expand the relationship for an additional term that could increase the total potential contract value to approximately $2.5 billion.

Annualized Revenue		$ millions
Q3 2026 revenue × 4		~49.0
+ Columbiana Phase 1 (contracted)		35.1
+ Columbiana Phase 2 (conditional)		58.5
Illustrative combined annualized revenue, including conditional Phase 2		~142.6

Illustrative only; not guidance. Assumes no change in existing revenue. Phase 2 remains conditional, including on adequate financing.

Construction of Phase 1 (15 MW) remains on schedule. The Company expects to provide its tenant with access to the Phase 1 facility on December 15, 2026 and to begin commissioning of the liquid-cooling and power systems at that time, with Phase 1 billing expected to begin in January 2027 following commissioning. Work on Phase 2 (25 MW) is already underway, and the Company is targeting tenant access for Phase 2 in March 2027.

NeoCloudz Token Factory is Live

This quarter, Digi Power X launched the NeoCloudz Token Factory, taking the Company from AI infrastructure provider to direct seller of AI tokens. Running on Digi Power X's own power, data centers and GPUs, the platform sells AI inference straight to customers. Because the Company owns the full stack, it keeps the value of every token it serves instead of renting out compute at wholesale prices. Digi Power X expects the Token Factory to unlock a new, fast-growing revenue stream with meaningfully higher margins, marking a major step in turning its infrastructure into a full-scale AI business.

"Going live with the NeoCloudz Token Factory is a major step for Digi Power X. We own the power, the data centers and the GPUs, and now we're selling tokens directly to customers. That lets us earn more from every megawatt we operate, and we're excited to grow this business alongside our existing infrastructure."

- Alec Amar, President, Digi Power X Inc.

$200 Million Project-Level Debt Financing

As previously announced on October 13, 2026, the Company received a commitment letter from a major lending institution for US$200 million in debt financing, syndicated by Goldman Sachs, to support the development of its 40 MW AI data center in Columbiana, Alabama. The financing is expected to be structured at a project special purpose vehicle level, with an unsecured Company guarantee through project completion and other limited matters. Proceeds are intended to support completion of the Columbiana, Alabama project and related project costs. Closing is subject to definitive documentation and the satisfaction of various conditions, including the lender's completion of its diligence. There can be no assurance that the financing will be completed on the anticipated terms or at all.

2027 Outlook

Based on its contracted business, available power and planned AI infrastructure deployments, the Company expects to reach a revenue run-rate of approximately $250 million to $300 million annualized, or approximately $21 million to $25 million per month, by the end of the third quarter of 2027, subject to adequate financing and market and various other conditions. Approximately $143 million of that annualized run-rate (about $12 million per month) is supported by current operations and the Columbiana tenant agreement, including conditional Phase 2. The balance is expected to come from additional AI colocation and GPU capacity currently in development and in customer negotiations.

2027 Capital Plan

The Company expects 2027 capital expenditures of approximately $350 million, primarily for the build-out of approximately 10 MW of AI inference ("token factory") capacity and the completion of Phase 2 at Columbiana. The Company intends to fund this program principally through customer deposits and prepayments and debt financing, including the proposed $200 million facility, together with cash on hand. This approach ties capital deployment to contracted revenue and is designed to minimize dilution to shareholders.

US Data Centers: Modular AI Infrastructure

Digi Power X owns approximately 48% of US Data Centers Inc. ("USDC"), which designs and deploys ARMS modular AI data center systems. Digi Power X accounts for its investment in USDS under the equity method. USDC is independently raising capital to fund its expansion (which results in further dilution of the interest of Digi Power X), without capital contributions from Digi Power X and without the issuance of Digi Power X shares. USDC is also developing URP-1, a robotics platform for automated deployment and maintenance of modular data center infrastructure.

Opportunity for Growth and Expansion

Digi Power X continues to prepare its New York infrastructure assets for conversion to AI data center operations, providing opportunity to expand its AI portfolio. The Company is targeting the transition of these sites beginning in Q3 and Q4 2027.

The Company is also advancing development planning for a large-scale AI data center campus in North Carolina, where the Company owns approximately 40 acres adjacent to one of North Carolina's largest electrical switchyards. The current development plan contemplates approximately 75 MW in 2029 and an additional 75 MW in 2030. The Company also continues to assess opportunities associated with its previously announced LOI involving a 1.3 GW power generation asset in West Virginia.

Between its New York infrastructure assets, North Carolina development plans and West Virginia power asset, Digi Power X can expand its aggregate power capacity to over 400 MW, through a geographically diversified portfolio of power-secured AI infrastructure, if its development plans are fully realized.

Third Quarter Summary

Revenue Mix

Business Category		Q3 2026 Revenue				Share of Revenue
Tier III colocation services		$	3.20M				26.1	%
GPU rental (NeoCloudz)		$	2.46M				20.1	%
Total AI		$	5.66M				46.2	%
Energy Sales		$	3.29M				26.9	%
Legacy Bitcoin colocation		$	3.11M				25.4	%
Digital currency mining and staking		$	0.18M				1.5	%
Total		$	12.25M				100.0	%

Legacy Bitcoin activities fell to approximately 27% of revenue from approximately 63% during the quarter ended September 30, 2025, and AI revenue more than offset the decline. Energy sales increased 68% over the previously completed fiscal quarter and 9% year-over-year.

Financial Summary

Business Category			Q3 2026				Q2 2026				Change
Revenue		$	12.25M			$	6.63M				+85	%
AI revenue		$	5.66M			$	1.08M				>+400	%
Energy revenue		$	3.29M			$	1.96M				+68	%
GAAP gross loss			($2.41M	)			($5.48M	)			+56	%
Gross profit before D&A		$	3.08M				($1.46M	)		+$	4.54	M
Net income (loss)		$	1.0M				($14.36M	)			+15.40	M
EBITDA		$	6.53M				($10.29M	)			163	%
Basic and diluted EPS		$	0.01			$	(0.17	)			+0.18
Cash, cash equivalents and digital currencies		$	119.64M			$	142.42M				($22.78	M)
Net fixed assets		$	145.6M			$	73.24M				+99	%
Shareholders' equity		$	279.9M			$	265.03M			+$	14.87	M
Borrowings		$	nil			$	nil				-

Year-over-Year Comparison

Business Category

Q3 2026

Q3 2025

Change

Revenue

$

12.2M

$

8.1M

+50

%

Net income

$

1.0M

$

0.1M

+$

0.9

M

Adjusted EBITDA

$

0.6M

($1.0M

)

+$

1.6

M

EBITDA

$

6.5M

$

1.7M

+294

%

Working capital

$

103.0M

$

17.5M

+489

%

Digital currencies

$

24.5M

$

15.4M

+56

%

Net fixed assets

$

145.6M

$

19.5M

+646

%

Conference Call Details

The Company will host a conference call to discuss its third quarter 2026 results on November 13, 2026, at 8:30 AM ET. The conference call can be accessed by dialing the numbers below, or guests can utilize the Call Me link.

1-877-407-9039 or 1-201-689-8470.

Call Me: https://callme.viavid.com/viavid/?callme=true&passcode=13750233&h=true&info=company&r=true&B=6

A live webcast and replay will be available at digipowerx.com/investors.

Adjusted EBITDA - GAAP Reconciliation

The following table reconciles GAAP net income to EBITDA and Adjusted EBITDA. EBITDA and Adjusted EBITDA are non-GAAP financial measures presented as a supplement to GAAP results. See "Non-GAAP Financial Measures" below.

Amounts in U.S. dollars (millions)

Line Item		Q3 2026 ($M)
Net Income		$	1.0M
Add: Depreciation & Amortization		$	5.5m
EBITDA		$	6.5M
Add: Share-based Compensation		$	2.2M
Add: FX loss		$	0.5M
Add: Loss on sale of digital currencies		$	0.1M
Less: Crypto Revaluation Gain			($7.1M)
Less: Warrant FV Gain			($1.5M)
Less: Gain on sale of equipment			($0.1M)
Adjusted EBITDA - Q3 2026		$	0.6M

EBITDA and Adjusted EBITDA exclude share-based compensation, digital currency revaluation, and changes in fair value of financial instruments. These non-GAAP measures are not substitutes for GAAP results.

Non-GAAP Financial Measures

EBITDA is a non-GAAP financial measure. The Company defines EBITDA as net income (loss) before interest expense, income taxes, and depreciation and amortization. Management believes that providing this non-GAAP financial measure, which excludes items that vary significantly with the Company's capital structure, tax position and the age and cost of its asset base, allows for meaningful comparisons of the Company's core business operating results across reporting periods. It also provides the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time. The Company's EBITDA measure may not be directly comparable to similar measures provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently. EBITDA does not reflect the Company's capital expenditures, the cash required to service debt, or income tax payments, and it does not reflect the cost of replacing assets being depreciated and amortized. The Company's EBITDA is not a measurement of financial performance under GAAP and should not be considered as a substitute for, or superior to, net income (loss) or any other measure of performance calculated in accordance with GAAP.

Adjusted EBITDA is a non-GAAP financial measure. The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization, and further adjusted to exclude share-based compensation, digital currency revaluation, gains or losses on sale of digital currencies, foreign exchange gains or losses, changes in fair value of financial instruments (including warrant liabilities), gain/loss on settlement of debt, gains or losses on deconsolidation of subsidiaries, and gains or losses on sale of property and equipment. Management believes that providing this non-GAAP financial measure that excludes these items allows for meaningful comparisons between the Company's core business operating results and those of other companies and provides the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time. In addition to management's internal use of non-GAAP Adjusted EBITDA, management believes that Adjusted EBITDA is also useful to investors and analysts in comparing our performance across reporting periods on a consistent basis. The Company's Adjusted EBITDA measure may not be directly comparable to similar measures provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently. The Company's Adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered as a substitute for, or superior to, net income (loss) or any other measure of performance calculated in accordance with GAAP.

About Digi Power X

Digi Power X is an AI infrastructure company, operating a vertically integrated portfolio of power assets and data center capacity across Alabama, New York, and North Carolina. The Company's NeoCloudz platform delivers GPU-as-a-Service on dedicated, bare metal NVIDIA infrastructure. For more information, visit www.digipowerx.com.

Investor Relations
For further information, please contact:
Michel Amar, Chief Executive Officer
Digi Power X Inc.
www.digipowerx.com
Investor Relations: T: 888-474-9222 | Email: IR@digihostpower.com

Cautionary Statement

Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Cboe Canada does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note and Forward-Looking Statements

Except for the statements of historical fact, this news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. Forward-looking information in this news release includes the statements under "2027 Outlook" and "2027 Capital Plan," statements regarding the expected timing of Phase 1 and Phase 2 at Columbiana and of billing thereunder, statements regarding the proposed debt financing, and other statements regarding goals, expectations and targets for the business of Digi Power X and of USDC. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "goals," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking information is subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the Company's ability to maintain and obtain new customers; that any additional commercial agreements under discussion will be entered into, or that the North Carolina, West Virginia or upstate New York opportunities will be realized; the Company's ability to fulfill its obligations pursuant to its colocation agreements; counterparty performance; the Company's ability to execute its evolving business model and strategy, including as it relates to its expansion into the data center market; future capital needs and uncertainty regarding the Company's and USDC's ability to raise additional capital or obtain financing; the risk that the US$200 million of debt financing contemplated by the company's October 13, 2026 commitment letter is not completed on the anticipated terms, on a timely basis, or at all; Phase 2 deployment of the Company's purpose-built AI data center campus is subject to various conditions, including the Company securing adequate financing that is acceptable to the Company's tenant, and there can be no assurance that financing will be completed on the terms contemplated or at all; costs associated with the development, manufacturing and deployment of AI infrastructure; risks relating to construction and equipment delivery; delivery of deployment of equipment may not occur on the timelines anticipated by the Company, or at all; global demand for AI computing infrastructure; further improvements to profitability and efficiency may not be realized; permitting and interconnection, regulatory matters, and general economic and market conditions; and other related risks, some of which are more fully set out in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as amended, and its subsequent Quarterly Reports on Form 10-Q filed with the SEC, and other documents disclosed under the Company's filings at www.sedarplus.ca. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. Forward-looking information is not a guarantee of future performance, and accordingly undue reliance should not be put on such information due to the inherent uncertainties therein. The Company undertakes no obligation to revise or update any forward-looking information other than as required by applicable law.

SOURCE: Digi Power X Inc.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Digi Power X's Q3 2026 revenue and earnings?

Digi Power X reported $12.25 million in revenue and $1.0 million in net income for the quarter ended September 30, 2026. Revenue increased 85% sequentially and 50% year over year. Net income was materially supported by digital currency and warrant valuation gains.

When will Digi Power X's Columbiana data center begin billing?

Digi Power X expects Phase 1 billing to begin in January 2027 following commissioning. Tenant access and commissioning of liquid-cooling and power systems are expected to begin December 15, 2026. Phase 2 tenant access is targeted for March 2027 and remains subject to conditions.

Could Digi Power X's Cerebras agreement expand beyond its initial term?

The Cerebras relationship includes an option for an additional term that could increase total potential contract value to approximately $2.5 billion. This is potential contract value, not revenue already earned.