Digi Power X Inc (NASDAQ:DGXX, FRA:1NQ0, NEO:DGX) reported second-quarter revenue of approximately $6.6 million and generated its first AI compute revenue, with roughly $1.1 million coming from GPU bare-metal rental over about five weeks of operations.
The AI data center infrastructure operator invested approximately $30 million in GPU infrastructure during the quarter, representing about 0.6 MW of deployed AI compute capacity. Adjusted EBITDA turned positive at approximately $3.3 million, up from about $0.1 million in the same period last year.
Revenue for the quarter also included approximately $3.6 million from colocation services and legacy mining and $1.9 million from energy sales. The company reported a net loss of approximately $14.4 million for the quarter.
CEO Michel Amar said the quarter was “an important inflection point in Digi Power X's transformation into an AI infrastructure company.”
"With approximately $150 million of cash today, no debt and a growing portfolio of AI infrastructure and power assets, we believe we have established a strong financial foundation from which to execute our growth strategy,” Amar told shareholders.
Construction of the company's Tier III AI data center in Columbiana, Alabama remains on schedule, with Phase 1's 15 MW of IT load expected in December 2026 and Phase 2's additional 25 MW targeted for March 2027, bringing the site to up to 40 MW of IT load. The 10-year agreement represents approximately $1.1 billion of contracted revenue, with an option to expand that could bring total potential contract value to approximately $2.5 billion.
"In this business, you are underwritten on what you have delivered, not what you have announced," said Alec Amar, Digi Power X’s president and co-founder. "Columbiana is our flagship and delivering it on schedule establishes the operating track record that hyperscale customers and project lenders require."
The company's B300 GPU bare-metal infrastructure has run at 100% uptime since May 2026. Digi Power X plans to expand its GPU bare-metal platform by approximately 10 MW during 2027 and is evaluating additional power sites for future growth. The company also said it plans to open a Silicon Valley office in the third quarter of 2026 to house an engineering team dedicated to its GPU-as-a-Service business.
Digi Power X is also preparing New York infrastructure assets for conversion to AI data center operations, targeting the transition in the third and fourth quarters of 2027, and is advancing development planning for a large-scale AI data center campus on roughly 40 acres in North Carolina, with a plan contemplating approximately 75 MW in 2029 and an additional 75 MW in 2030.
The company is targeting an annualized revenue run-rate of approximately $250 million to $300 million by the third quarter of 2027, supported by both contracted revenue and additional deployments across colocation and GPU bare-metal capacity. Management expects the transition toward this higher revenue profile to become increasingly visible in the second half of 2026, with third-quarter revenue expected to increase significantly from the second quarter.
Digi Power X held $142.4 million in cash and cash equivalents as of June 30, with total assets of $279.6 million and shareholders' equity of $265. million.