AIB Data Centers (AIB) Q2 2026 earnings summary

Executive summary

• Transitioned from bitcoin mining hosting to AI/HPC data center development, highlighted by the CLT-01 Campus project in South Carolina and a strategic focus on long-term AI/HPC contracts.

• Completed a business combination with Signing Day Sports, Inc. in March 2026 and rebranded as AIB Data Centers Inc.

• Raised $63.25 million gross ($59 million net) in a June 2026 public offering, significantly strengthening liquidity.

• De-energized bitcoin mining operations in June 2026 due to unfavorable market conditions, accelerating the shift to AI/HPC.

Financial highlights

• Q2 2026 revenue was $2.9 million, down 39% year-over-year; six-month revenue was $7.8 million, down 15% year-over-year.

• Q2 2026 net loss was $3.5 million, compared to $0.5 million loss in Q2 2025; six-month net loss was $3.8 million, up from $0.1 million loss year-over-year.

• Gross margin for Q2 2026 was -18% versus 12% in Q2 2025; six-month gross margin was 1% versus 19% prior year.

• Adjusted EBITDA for the six months ended June 30, 2026 was a loss of $3.2 million, compared to positive $0.7 million in the prior year.

• Cash and cash equivalents at June 30, 2026 were $52.8 million, up from $0.01 million a year earlier.

Outlook and guidance

• Expects legacy bitcoin hosting revenue to decline significantly as AI/HPC capacity is developed and commissioned.

• No revenue yet from long-term AI/HPC contracts; negotiations ongoing for a single tenant to lease the full 65 MW CLT-01 Campus.

• Future growth strategy centers on developing the CLT-01 Campus and evaluating additional sites, including a potential 75 MW Minnesota campus.

• Execution of AI/HPC strategy depends on securing customer contracts, equipment, regulatory approvals, and financing.