Digi Power X Inc (NASDAQ:DGXX, TSX-V:DGX) saw its colocation revenue jump 163% year-over-year in the first half of 2025 to $9.57 million, driven by rising demand for AI infrastructure.
The Miami-based company also removed a “going concern” risk during the quarter, a move that it said strengthened its balance sheet.
The energy infrastructure firm, which operates Tier 3 AI data centers, high-performance computing and sustainable digital asset operations, reported positive adjusted EBITDA in the second quarter and said it now holds more than $30 million in cash, Bitcoin, Ethereum and equivalents, which is its highest liquidity on record.
Q2 energy sales grew 127% from a year earlier to $5.7 million, while operational streamlining cut costs by $6.3 million in the first half.
The company raised $12.9 million during the quarter through a private placement and warrant exercises, with a further $1.83 million raised after quarter-end. It also eliminated all long-term debt and reduced accounts payable by over $3.6 million since the end of 2024.
“The removal of the going concern risk and our achievement of over $30 million in cash and equivalents, including holdings of approximately 80 Bitcoin and 715 Ethereum, is a transformational moment for Digi Power X,” CEO Michel Amar said.
“We now have the financial strength and operational momentum to capitalize on the rapidly expanding AI infrastructure market, with our first NVIDIA B200 GPU cluster set to go live in Q1 2026 and a pipeline of AI infrastructure contracts in advanced negotiations.”
Digi Power X remains on track to deploy its first NVIDIA B200 GPU cluster in partnership with Super Micro Computers, Inc. by the first quarter of 2026, and is in advanced talks with multiple AI customers to secure long-term infrastructure contracts, several of which are expected to be signed in the fourth quarter.
The company expects continued growth in colocation and AI infrastructure services in the second half of 2025, supported by planned expansions in Alabama and North Carolina. It currently operates with about 100 MW of available power across three sites and aims to scale capacity to 200 MW and beyond through asset optimization and acquisitions.