Big Digital Energy (BGDE) Q1 2026 earnings summary

Executive summary

• Report covers the quarter ended March 31, 2026, with a focus on digital infrastructure, AI, HPC, and digital asset mining services, primarily in the U.S. PJM Energy Market.

• Company changed its name from Mawson Infrastructure Group Inc. to Big Digital Energy, Inc. effective April 24, 2026.

• Strategic shift underway to prioritize AI/HPC data center expansion and optimize megawatt utilization, moving away from Bitcoin mining.

• Significant board and executive changes occurred in April 2026, including new independent and Endeavor-affiliated directors and new CEO, COO, and Executive Chairman appointments.

Financial highlights

• Total revenues for Q1 2026 were $4.8 million, down 65% year-over-year from $13.8 million.

• Net income for Q1 2026 was $0.6 million, compared to a net loss of $0.3 million in Q1 2025.

• Adjusted EBITDA for Q1 2026 was $(6.6) million, compared to $1.1 million in Q1 2025.

• Cash and cash equivalents as of March 31, 2026, were $2.4 million, down from $13.3 million at year-end 2025.

• Stockholders’ equity improved to $4.3 million from a deficit of $3.1 million at December 31, 2025.

Outlook and guidance

• Management expects near-term working capital needs to be met through a mix of operational cash flow, equity issuances, and potential asset monetization.

• Strategic focus is on expanding AI/HPC infrastructure and selectively monetizing excess capacity.

• Company acknowledges the need to raise substantial additional capital to meet debt obligations and fund growth.