DarkHorse Technologies (Nasdaq: DRK) reported third-quarter 2026 revenue of $3.031 million as it expanded contracted power capacity and completed hosting installations. Revenue compared with $2.623 million a year earlier. Net loss was $5.778 million versus $4.248 million a year earlier and $13.8 million in the preceding quarter.
Contracted power doubled to approximately 100 MW, with approximately 50 MW operating and 50 MW under development. Installations were completed across three sites under the 30 MW Bitdeer hosting arrangement. Planned AI facilities remain in pre-construction development, with utility coordination, civil infrastructure and permitting required before construction.
A September private financing generated approximately $4.8 million net. Cash totaled $8.823 million at September 30, versus $3.707 million at year-end 2025. DarkHorse also sold its Iowa site and began selling its mining fleet.
DarkHorse Technologies (DRK) announced that CEO Joel Block is scheduled to participate in the 2026 Maxim Growth Summit on October 12–14.
The summit takes place at Hard Rock Hotel NYC. Block will join the Data Centers & Infrastructure panel on October 13 at 3:00 p.m. ET. The company will hold one-on-one meetings with institutional investors on October 14 and engage with senior Maxim research analysts throughout the event.
DarkHorse Technologies (DRK) signed a power contract through subsidiary Pennyrile Holdings for up to 50 MW at a planned Hopkinsville, Kentucky facility. The agreement with Hopkinsville Electric System (HES) doubles contracted power in the TVA region to approximately 100 MW.
A planned 65 MW substation will connect to TVA's 161 kV system. DarkHorse must pay construction costs in advance and convey the site to HES, which will design, build, own and operate the station. TVA has approved capacity, but service remains subject to permitting and utility construction. The contract runs ten years from service commencement, with automatic five-year renewals. DarkHorse's Hopkinsville footprint reaches approximately 65 MW across two locations; its existing site is also being evaluated for conversion to a superintelligence factory.
DarkHorse Technologies (DRK) announced new strategic relationships with Empirix Partners, Covectis, Perpetual Grid and Barge Design Solutions to support conversion and development of its power and data center assets in the Tennessee Valley Authority region for AI and high-performance computing use.
The partners provide project planning, go-to-market strategy, power coordination and architectural and engineering design, with initial work defining site improvements, costs and schedules for Tennessee and Kentucky locations.