Digi Power X (DGX) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $6.6 million, reflecting a strategic shift from legacy and crypto mining to AI, compute, and colocation revenue streams, with the first GPU bare metal rental revenue of $1.1 million recognized from the Columbiana, Alabama facility.

• Positive adjusted EBITDA of $3.3 million, up from $0.1 million year-over-year, and a net loss of $14.4 million, primarily due to depreciation and non-cash items.

• Secured $1.1 billion in contracted AI data center revenue, with potential to expand to $2.5 billion, and signed a major 10-year colocation agreement.

• Total assets reached $279.6 million as of June 30, 2026, with cash and cash equivalents at $142.4 million, increasing to $150 million by August 2026.

• Q2 marked a turning point with the first AI revenues, major infrastructure investments, and a robust growth outlook.

Financial highlights

• Q2 2026 revenue totaled $6.6 million, including $3.6 million from colocation/legacy mining, $1.9 million from energy sales, and $1.1 million from GPU rental.

• Net loss for Q2 2026 was $14.4 million, with adjusted EBITDA of $3.3 million.

• Cash and cash equivalents at June 30, 2026: $142.4 million, increasing to $150 million by August 2026.

• Working capital of $131.8 million and digital assets holdings of $14.3 million.

• Total assets of $279.6 million and shareholders' equity of $265.0 million as of June 30, 2026.

Outlook and guidance

• Targeting annualized revenue run-rate of $250–$300 million by Q3 2027, with $140 million annualized contracted revenue run-rate in 2027.

• Alabama data center Phase 1 (15 MW) to be delivered December 2026; Phase 2 (25 MW) in March 2027.

• Q3 2026 revenue expected to increase significantly over Q2 2026.

• Confident in meeting GPU-as-a-service and colocation growth targets for 2027 and beyond.

• Revenue and growth targets depend on execution, customer ramp, and financing availability.