Bakay Capital Fund, L.P., Bakay Capital Management, LLC and Berke Bakay report their beneficial ownership in Digi Power X Inc. subordinate voting shares in this amended Schedule 13G filing. The Fund beneficially owns 2,484,712 subordinate voting shares, including 189,394 shares issuable upon exercise of certain warrants, representing 2.7% of the class. Bakay Capital Management, as investment adviser and general partner of the Fund, may also be deemed to beneficially own these securities and likewise reports 2.7% ownership. Berke Bakay, as managing member of the Manager and an individual holder of 66,666 shares, reports beneficial ownership of 2,551,378 shares, or 2.8% of the class. The ownership percentages are based on 90,420,824 subordinate voting shares outstanding as of May 15, 2026, plus the 189,394 warrant shares, and all reporting persons expressly disclaim beneficial ownership except to the extent of any pecuniary interest.
Positive
None.
Negative
None.
Key Figures
Fund beneficial ownership:2,484,712 sharesBerke Bakay beneficial ownership:2,551,378 sharesOwnership percentage - Fund:2.7%+4 more
7 metrics
Fund beneficial ownership2,484,712 sharesSubordinate voting shares beneficially owned by Bakay Capital Fund, L.P.
Ownership percentage - Fund2.7%Percent of Digi Power X subordinate voting shares class for Bakay Capital Fund, L.P.
Ownership percentage - Berke Bakay2.8%Percent of Digi Power X subordinate voting shares class for Berke Bakay
Shares outstanding baseline90,420,824 sharesSubordinate voting shares outstanding as of May 15, 2026
Warrant shares189,394 sharesSubordinate voting shares issuable upon exercise of certain warrants owned by the Fund
Individually held shares by Berke Bakay66,666 sharesDigi Power X shares held individually by Berke Bakay
Key Terms
beneficially owns, Subordinate Voting Shares, warrants, pecuniary interest, +1 more
5 terms
beneficially ownsfinancial
"Bakay Capital Fund, L.P. (the "Fund") beneficially owns 2,295,318.00 subordinated voting shares"
Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.
Subordinate Voting Sharesfinancial
"Title of class of securities: Subordinate Voting Shares"
Subordinate voting shares are a type of company stock that typically carry fewer voting rights than regular shares, meaning holders have less influence over company decisions. They are often used to raise capital while allowing founders or main shareholders to retain control. For investors, understanding the difference helps assess their level of influence in company decisions and the potential risks or benefits of holding different types of shares.
warrantsfinancial
"189,394 subordinated voting shares issuable upon exercise of certain warrants"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
pecuniary interestfinancial
"disclaims beneficial ownership of the reported securities, except to the extent of its or his pecuniary interest"
Rule 13d-4regulatory
"Pursuant to Rule 13d-4, each of the Reporting Persons disclaims beneficial ownership"
FAQ
What percentage of Digi Power X Inc. (DGXX) does Bakay Capital Fund, L.P. report owning?
Bakay Capital Fund, L.P. reports beneficial ownership of 2,484,712 Digi Power X subordinate voting shares, representing 2.7% of the class. This figure includes 189,394 shares issuable upon exercise of certain warrants held by the Fund.
How many Digi Power X Inc. (DGXX) shares does Berke Bakay beneficially own?
Berke Bakay reports beneficial ownership of 2,551,378 Digi Power X subordinate voting shares, or 2.8% of the class. This includes interests through the Fund and 66,666 Digi Power X shares held individually.
What share count did Digi Power X Inc. (DGXX) have outstanding for this 13G/A calculation?
The ownership percentages are based on 90,420,824 Digi Power X subordinate voting shares outstanding as of May 15, 2026, plus 189,394 shares issuable upon exercise of certain warrants owned by Bakay Capital Fund, L.P.
Do the Bakay reporting persons disclaim beneficial ownership of Digi Power X Inc. (DGXX) shares?
Yes. The Fund, Bakay Capital Management, LLC and Berke Bakay each disclaim beneficial ownership of the reported Digi Power X securities, except to the extent of their pecuniary interest in those securities, pursuant to Rule 13d-4.
What type of securities in Digi Power X Inc. (DGXX) are covered in this Schedule 13G/A?
The filing covers Digi Power X Subordinate Voting Shares, including currently outstanding shares and 189,394 additional shares issuable upon exercise of certain warrants held by Bakay Capital Fund, L.P.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Digi Power X Inc.
(Name of Issuer)
Subordinate Voting Shares
(Title of Class of Securities)
25381D206
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
25381D206
1
Names of Reporting Persons
Bakay Capital Fund, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,484,712.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,484,712.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,484,712.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.7 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: Percentage based on (i) 90,420,824 subordinated voting shares of the Issuer outstanding as of May 15, 2026, as reported in the Issuer's Form 10-Q for the quarterly period ended March 31, 2026 filed with the SEC on May 15, 2026 (the "Form "10-Q"); plus (ii) 189,394 shares of subordinated voting shares issuable upon exercise of the certain warrants owned by Bakay Capital Fund, L.P. (the "Fund").
SCHEDULE 13G
CUSIP Number(s):
25381D206
1
Names of Reporting Persons
Bakay Capital Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,484,712.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,484,712.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,484,712.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.7 %
12
Type of Reporting Person (See Instructions)
IA, OO
Comment for Type of Reporting Person: Percentage based on (i) 90,420,824 subordinated voting shares of the Issuer outstanding as of May 15, 2026, as reported in the Form 10-Q; plus (ii) 189,394 shares of subordinated voting shares issuable upon exercise of the certain warrants owned by the Fund.
SCHEDULE 13G
CUSIP Number(s):
25381D206
1
Names of Reporting Persons
Berke Bakay
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,551,378.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,551,378.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,551,378.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.8 %
12
Type of Reporting Person (See Instructions)
HC, IN
Comment for Type of Reporting Person: Percentage based on (i) 90,420,824 subordinated voting shares of the Issuer outstanding as of May 15, 2026, as reported in the Form 10-Q; plus (ii) 189,394 shares of subordinated voting shares issuable upon exercise of the certain warrants owned by the Fund.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Digi Power X Inc.
(b)
Address of issuer's principal executive offices:
110 Yonge Street, Suite 1601, Toronto, A6 M5C 1T4
Item 2.
(a)
Name of person filing:
Bakay Capital Fund, L.P.
Bakay Capital Management, LLC
Berke Bakay
(b)
Address or principal business office or, if none, residence:
For each Reporting Person:
888 Prospect Street. Suite 200
La Jolla, CA 92037
(c)
Citizenship:
Bakay Capital Fund, L.P.: Delaware
Bakay Capital Management, LLC: Delaware
Berke Bakay: United States
(d)
Title of class of securities:
Subordinate Voting Shares
(e)
CUSIP No.:
25381D206
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Bakay Capital Fund, L.P. - 2,484,712
Bakay Capital Management, LLC - 2,484,712
Berke Bakay - 2,551,378
(b)
Percent of class:
Bakay Capital Fund, L.P. - 2.7%
Bakay Capital Management, LLC - 2.7%
Berke Bakay - 2.8%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Bakay Capital Fund, L.P. - 2,484,712
Bakay Capital Management, LLC - 2,484,712
Berke Bakay - 2,551,378
(ii) Shared power to vote or to direct the vote:
Bakay Capital Fund, L.P. - 0
Bakay Capital Management, LLC - 0
Berke Bakay - 0
(iii) Sole power to dispose or to direct the disposition of:
Bakay Capital Fund, L.P. - 2,484,712
Bakay Capital Management, LLC - 2,484,712
Berke Bakay - 2,551,378
(iv) Shared power to dispose or to direct the disposition of:
Bakay Capital Fund, L.P. - 0
Bakay Capital Management, LLC - 0
Berke Bakay - 0
(1) Bakay Capital Fund, L.P. (the "Fund") beneficially owns 2,295,318.00 subordinated voting shares of the Issuer and 189,394 subordinated voting shares issuable upon exercise of certain warrants. Bakay Capital Management, LLC (the "Manager") as the investment adviser and general partner of the Fund may also be deemed to beneficially own the securities directly held by the Fund, as it has the power to direct the disposition and voting of such securities. Berke Bakay as the managing member of the Manager may also be deemed to beneficially own the securities directly held by the Fund and also holds 66,666 shares of common stock individually. Pursuant to Rule 13d-4, each of the Reporting Persons disclaims beneficial ownership of the reported securities, except to the extent of its or his pecuniary interest in such securities, if any.
(2) Percentage based on (i) 90,420,824 subordinated voting shares of the Issuer outstanding as of May 15, 2026, as reported in the Form 10-Q; plus (ii) 189,394 shares of subordinated voting shares issuable upon exercise of the certain warrants owned by the Fund.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See the response to Item 4.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
