Digi Power X Inc (NASDAQ:DGXX, TSX-V:DGX) CEO Edward Karr talked with Proactive about the company’s August results and recent progress.
Karr highlighted that Digi Power X continues to hold a strong financial position with a cash balance of over $29 million, comprised of US dollars, Bitcoin, and Ethereum.
Revenues for August reached $3.5 million, generated from both Bitcoin mining and energy trading.
According to Karr, Digi Power X is valued at just over a $100 million market cap, with a $40 million-plus annualized run rate, giving it strong momentum going forward.
Karr also provided an update on the ongoing conversion of the company’s Alabama facility into a tier three AI data center.
Proactive: All right. Welcome back inside our Proactive newsroom. Joining me now is Edward Karr, he is with Digi Power X Inc. Edward, it’s great to see you. How are you?
Edward Karr: I’m doing great, doing great. I know summer’s over, but it’s time to make money.
Yeah, well, it’s been very busy within the company. I know that. And you’ve had a busy summer. Let’s talk a little bit about the news that you have out now that really talks about almost doubling what you have as far as Ethereum is concerned and the work that you’re doing digitally. So let’s start there.
Yeah. Thanks. You know, it’s such an exciting time right now for Digi Power X. We did put out a press release yesterday announcing our August results. These are unaudited results, preliminary for the month of August. But as you point out, a couple of highlights: the company still carries a cash balance of over $29 million.
That’s comprised of US dollars, Bitcoin, and Ethereum. Our Ethereum balance has been growing quite rapidly. We just started initiating that recently. We’re already up over 1,000 ether, and that was 93% growth month over month into ether. So we’re giving investors exposure to that digital asset as well. Revenues for the month stayed very robust.
We came in at $3.5 million, comprised of both Bitcoin mining and energy trading. So if you look at the company today, we’re just north of a $100 million market cap with almost $30.00 million in cash and crypto, and a $40+ million annualized run rate. It’s an exciting time.
And you’ve not only done that, but you’ve also done that by reducing some costs as well. That’s been a big part of this also.
Yeah, that’s exactly right. We are laser focused with our chairman and founder, Michel Amar, on cost management and reduction. And we also talked in the press release, about this ongoing conversion of our Alabama facility to the tier three AI data center. This is well underway. We’re so excited about this partnership with Super Micro.
We have these AI-ready modular solution pods, the ARMS 200, that support up to 256 Nvidia Blackwell 200 chips. These pods can scale up from a half megawatt all the way up to the Alabama site, which is going to go to 40MW of critical tier three power capacity, backed by 55MW of total power availability.
We think we’ll be able to announce a tenant in there by the end of the year. We’re already in discussions with some major institutions for project financing, and we think it’s going to be on very favorable terms.
Yeah. And there’s a lot of things going on. You mentioned the numbers you had during the summer. As we get here into the fall, a lot of eyes are on the company as well, especially given what’s happening in the United States with bitcoin and crypto. There’s a lot more eyes on a company like yours.
Now there really is. We’ve seen a lot of new institutional outreach. In fact, recently a brand new research analyst from Alliance Global Partners just picked up coverage. I think that report came out yesterday. So if anyone’s interested, they probably can reach out to AGP directly themselves. We’re really happy now.
We have more research analysts. We’ve been in discussions with others, and we do anticipate other research analysts publishing on the name before the end of this year. We just continue to execute on all cylinders. As you know, this space is white hot. It continues to do extremely well.
We’ve got huge demand, and it’s all about execution now — building out Alabama and ultimately being able to announce that tenant.
Quotes have been lightly edited for clarity and style