Digi Power X (DGX) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $6.6 million, reflecting a strategic shift from legacy and crypto mining to AI, compute, and colocation revenue streams.

• First AI compute revenue of $1.1 million recognized from five weeks of GPU bare metal rental at the Columbiana, Alabama facility.

• Net loss for Q2 2026 was $14.4 million, primarily due to depreciation and non-cash items.

• Total assets reached $279.6 million as of June 30, 2026, up from $37 million a year ago.

• Positive adjusted EBITDA of $3.3 million, up from $0.1 million year-over-year.

Financial highlights

• Cash and cash equivalents at June 30, 2026 were $142.4 million, increasing to $150 million by August 14, 2026.

• Working capital was $131.8 million as of June 30, 2026.

• Digital assets holdings were $14.3 million, primarily in Bitcoin and Ethereum.

• Net fixed assets and equipment deposits for Columbiana build-out totaled $127.5 million.

• Shareholders' equity was $265.0 million as of June 30, 2026.

Outlook and guidance

• Alabama data center Phase 1 (15 MW) targeted for service in December 2026; Phase 2 (25 MW) by March 2027.

• Q3 2026 revenue expected to increase significantly compared to Q2.

• Targeting annualized revenue run-rate of $250–$300 million by Q3 2027, with $140 million annualized contracted revenue run-rate in 2027.

• Confident in meeting GPU-as-a-service and colocation growth targets for 2027 and beyond.

• Additional project-level debt financing being pursued to fund further AI data center expansion.