Shares in Digi Power X Inc (NASDAQ:DGXX, TSX-V:DGX), the energy infrastructure firm, rose 8% after it reported a 45% month-on-month jump in its cash and cryptocurrency holdings, fuelled by higher bitcoin output and energy sales during June.
The Nasdaq-listed group, which develops and operates data centres, said its combined position of cash, bitcoin and cash deposits rose to $13.5 million at the end of June, up from $9.3 million the previous month.
It said the growth came without taking on long-term debt and marked a 90% increase compared with June 2024.
Digi Power X produced 94 bitcoins over the second quarter of the year, which at market prices equated to roughly $10.1 million.
It also brought in $2.3 million from energy and power sales, taking total quarterly revenue to $12.4 million.
The company operates a hybrid model, generating revenue both from its own bitcoin mining and from hosting machines for clients, known as colocation.
Its operations span three facilities with access to around 100 megawatts of power capacity, which it plans to double over time through organic expansion and acquisitions.
June also saw a fresh $1 million invested in mining infrastructure, taking capital spending for the year so far to $3.5 million.
Digi Power X’s broader ambitions now stretch beyond Bitcoin.
In partnership with Super Micro Computer Inc (NASDAQ:SMCI), a server hardware company, it is building a new artificial intelligence-focused data centre in Alabama.
The site will use Super Micro’s liquid-cooled systems and NVIDIA’s B200 chips to support the firm’s ARMS platform, a modular, portable data centre tailored for demanding AI computing.
The first system is currently being installed and will serve as a test case for Digi Power X’s full-stack infrastructure model.
Modular systems like these are designed to be scaled quickly and offer on-demand computing power for enterprise users, particularly those developing and running AI models.
Separately, the company is continuing work with NANO Nuclear Energy on a proposal to bring small-scale nuclear power to its upstate New York site, part of a longer-term goal to decarbonise its operations and tap into next-generation energy sources.
The shares rose 28 cents to C$3.76.