AIB Data Centers (AIB) Q2 2026 earnings summary

Executive summary

• Transitioned from bitcoin mining hosting to AI/HPC data center development, highlighted by the CLT-01 Campus project in South Carolina and a strategic focus on long-term AI/HPC contracts.

• Secured a 65 MW, 15-year electric service agreement at the CLT-01 facility, expanding identified capacity potential to 570 MW across six sites.

• Completed a business combination with Signing Day Sports, Inc. in March 2026 and rebranded as AIB Data Centers Inc.; expanded leadership team and enhanced market visibility through index inclusion and research coverage.

• Raised $63.3 million gross ($59 million net) in a June 2026 public offering, ending Q2 with $52.8 million in cash and $82.7 million in equity, with no traditional debt.

• De-energized bitcoin mining operations in June 2026 to redeploy infrastructure for higher-density AI/HPC workloads.

Financial highlights

• Q2 2026 revenue was $2.9 million, down 39% year-over-year, reflecting the transition away from a single-tenant model and temporary site de-energization.

• Q2 2026 net loss was $3.5 million ($0.07 per share), compared to $0.5 million loss ($0.01 per share) in Q2 2025; six-month net loss was $3.8 million.

• Gross margin for Q2 2026 was -18% versus 12% in Q2 2025; six-month gross margin was 1% versus 19% prior year.

• Adjusted EBITDA loss for Q2 2026 was $3.1 million; for six months ended June 30, 2026, loss was $3.2 million.

• Ended Q2 2026 with $52.8 million in cash and $82.7 million in stockholders' equity, up from $15,265 and $7.9 million at year-end 2025.

Outlook and guidance

• Expects legacy bitcoin hosting revenue to decline significantly as AI/HPC capacity is developed and commissioned.

• No revenue yet from long-term AI/HPC contracts; negotiations ongoing for a single tenant to lease the full 65 MW CLT-01 Campus.

• Future growth strategy centers on developing the CLT-01 Campus and evaluating additional sites, including a potential 75 MW Minnesota campus.

• Execution of AI/HPC strategy depends on securing customer contracts, equipment, regulatory approvals, and financing.

• Management expects continued investment in infrastructure and commercial expansion to support growth strategy.