olivLaw · US equity research
Digi Power X Inc. DGXX
Finance Services · SIC 6199 · Vertical: Finance Services (SIC 6199)
Digi Power X is an energy infrastructure company shifting from bitcoin mining toward data centers for artificial intelligence and high-performance computing. In the second quarter of 2026 it reported revenue of about $6.6 million and a contracted AI revenue base of $1.1 billion, which keeps investors focused on the transition.
At the close of 04 Nov 2026, Digi Power X Inc. (DGXX) stock was 2.14 USD (−5.73% on the day), with market capitalisation 217.0 m USD, beta 2.50, 52-week range 1.89–8.46 USD. Latest reported quarter (Q2 2026): revenue of 6.6 m USD (−18.3% YoY), net income of -14.4 m USD, diluted EPS -0.17 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 30.1
- weak (30–45)
- Bollinger (20, 2)
- 1.90 – 3.20
- in the lower half of the band · %B 0.19 · band width 51.1%
- SMA 50 / 200
- 3.36 / 3.94
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.37 / -0.37
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −42.6% | −1.1% | −41.5 pp | — |
| 3 months | −42.9% | −0.5% | −42.5 pp | — |
| 6 months | −65.7% | +4.4% | −70.1 pp | — |
| Year to date | −16.1% | +12.3% | −28.4 pp | — |
| 1 year | −64.5% | +13.5% | −78.1 pp | −47.5% |
| 3 years | +57.4% | +76.4% | −19.1 pp | −48.3% |
| 5 years | −70.5% | +63.7% | −134.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q1 '25 | Q2 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|
| Revenue | 9.3 m | 8.1 m | 6.8 m | 6.6 m |
| Gross profit | -1.5 m | -92.1 k | -801.6 k | -5.5 m |
| Depreciation & amortisation | 2.2 m | 1.6 m ≈ | 1.4 m | 4.0 m ≈ |
| Net income | -1.6 m | -9.7 m | -4.7 m | -14.4 m |
| Diluted EPS | -0.05 | -0.26 | -0.07 | -0.17 |
| Operating cash flow | -10.1 m | -8.2 m ≈ | -6.4 m | -4.2 m ≈ |
| Capex | 782.1 k | 775.3 k ≈ | 15.2 m | 81.1 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | unavailable | 25.0 m | 24.2 m | 26.1 m | 37.0 m | 34.2 m |
| Revenue YoY | unavailable | unavailable | −3.1% | +7.9% | +41.7% | −7.6% |
| Net income | -5.2 m | -3.1 m | 4.3 m | -21.9 m | -12.4 m | -28.4 m |
| Net income YoY | unavailable | unavailable | unavailable | −605.5% | unavailable | unavailable |
| Diluted EPS | unavailable | -0.14 | 0.16 | -0.77 | -0.40 | -0.64 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | −581.3% | unavailable | unavailable |
| net % | unavailable | -12.6% | 17.9% | -83.8% | -33.5% | -82.9% |
| Free cash flow | -3.4 m | -42.8 m | -30.2 m | -16.6 m | -21.3 m | -42.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 78.5 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 123.3 m USD
- Total assets
- 134.1 m USD
- Debt / equity
- unavailable
- Current ratio
- 10.97x
- ROE
- -39.0%
- ROA
- -33.7%
- FCF margin
- -125.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | — | 25.0 m | 24.2 m | 26.1 m | 37.0 m | 34.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Cost of revenue | 4.2 m | 7.1 m | 17.8 m | 20.2 m | 32.7 m | — | SEC (XBRL)· 31 Mar 2025verified |
| Gross profit | -4.0 m | 11.1 m | -6.8 m | -9.7 m | -11.3 m | -3.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Operating income | -5.6 m | 2.9 m | -28.2 m | -17.3 m | -10.9 m | — | SEC (XBRL)· 31 Mar 2025verified |
| Depreciation & amortisation | 3.4 m | 3.3 m | 10.7 m | 14.9 m | 15.5 m | 6.8 m | SEC (XBRL)· 31 Mar 2026verified |
| EBITDA | -2.2 m ≈ | 6.2 m ≈ | -17.5 m ≈ | -2.4 m ≈ | 4.6 m ≈ | — | SEC (XBRL)· 31 Mar 2025derived |
| Interest expense | — | 332.8 k | 296.2 k | 42.1 k | -877 | — | SEC (XBRL)· 31 Mar 2025verified |
| Pre-tax income | -5.8 m | -832.1 k | 2.8 m | -21.9 m | -12.4 m | -28.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Income tax | — | 127.3 k | — | — | — | — | SEC (XBRL)· 28 Mar 2022verified |
| Net income | -5.2 m | -3.1 m | 4.3 m | -21.9 m | -12.4 m | -28.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Diluted EPS | — | -0.14 | 0.16 | -0.77 | -0.40 | -0.64 | SEC (XBRL)· 31 Mar 2026verified |
| Weighted average diluted shares | 11.7 m | 21.8 m | 27.2 m | 28.6 m | 30.7 m | 44.5 m | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 31.3 k | 915.7 k | 1.9 m | 341.3 k | 1.7 m | 78.5 m | SEC (XBRL)· 31 Mar 2026verified |
| Receivables | 141.6 k | 1.8 m | 1.2 m | 867.3 k | 1.8 k | 1.1 m | SEC (XBRL)· 31 Mar 2026verified |
| Current assets | 4.7 m | 36.2 m | 6.1 m | 2.2 m | 6.7 m | 94.9 m | SEC (XBRL)· 31 Mar 2026verified |
| Property, plant & equipment, net | 6.5 m | 38.1 m | 41.8 m | 33.4 m | 23.6 m | 23.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Goodwill | 1.3 m | 1.3 m | — | — | — | — | SEC (XBRL)· 28 Mar 2022verified |
| Intangibles (excl. goodwill) | 1.6 m | 1.4 m | 1.3 m | 1.2 m | 1.1 m | 926.3 k | SEC (XBRL)· 31 Mar 2026verified |
| Total assets | 16.5 m | 80.0 m | 52.6 m | 42.1 m | 34.3 m | 134.1 m | SEC (XBRL)· 31 Mar 2026verified |
| Accounts payable | 920.9 k | 2.3 m | 2.3 m | 4.5 m | 6.6 m | 6.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Short-term debt | — | — | 488.1 k | 389.1 k | — | — | SEC (XBRL)· 16 Sept 2024verified |
| Long-term debt | — | — | 389.1 k | — | — | — | SEC (XBRL)· 14 Jul 2023verified |
| Current liabilities | 3.0 m | 5.5 m | 3.3 m | 10.7 m | 9.7 m | 8.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Total liabilities | 6.1 m | 41.8 m | 5.4 m | 12.9 m | 12.0 m | 10.9 m | SEC (XBRL)· 31 Mar 2026verified |
| Equity | 10.4 m | 38.3 m | 47.2 m | 34.7 m | 22.3 m | 123.3 m | SEC (XBRL)· 31 Mar 2026verified |
| Shares outstanding at year end | — | 25.0 m | 27.8 m | 28.9 m | 33.0 m | — | SEC (XBRL)· 31 Mar 2025verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -2.2 m | -8.9 m | -15.5 m | -13.6 m | -17.5 m | -25.5 m | SEC (XBRL)· 31 Mar 2026verified |
| Capex | 1.2 m | 33.9 m | 14.7 m | 3.0 m | 3.8 m | 17.3 m | SEC (XBRL)· 31 Mar 2026verified |
| Free cash flow | -3.4 m ≈ | -42.8 m ≈ | -30.2 m ≈ | -16.6 m ≈ | -21.3 m ≈ | -42.8 m ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Investing cash flow | -1.3 m | -34.7 m | -2.4 m | 12.0 m | 14.7 m | -12.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Financing cash flow | 2.2 m | 44.5 m | 18.9 m | 56.1 k | 4.2 m | 114.5 m | SEC (XBRL)· 31 Mar 2026verified |
| Share repurchases | 20 | 600.0 k | 255.5 k | — | — | — | SEC (XBRL)· 16 Sept 2024verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 217.0 m USD
Key indicators
Coverage and freshness
Score by group
27% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -114.8% | 49 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 12.2% | 100 (on a fixed band) | 31% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 11.3x | 100 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -59.9% | 0 (on a fixed band) | 31% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality· partial49/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Digi Power X Inc. (DGXX). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 34.2 m USD in 2025; YoY growth -7.6%; net margin -114.8%; ROE -24.7%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 12.2%
- Current ratio: 11.3x
What contradicts it
- FCF yield: -59.9%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Finance Services (SIC 6199) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AXPAmerican Express Co | 223.0 bn | 18.7 | 35.9% | 27.9% | +6.4% | −9% / +95% |
| ARBKArgo Blockchain PLC | 45.2 bn | — | — | -117.2% | −7.0% | −97% / −99% |
| COINCoinbase Global, Inc. | 40.1 bn | — | -4.7% | -12.5% | +9.4% | −44% / +21% |
| SOFISoFi Technologies, Inc. | 22.4 bn | 36.3 | 7.1% | 104.3% | +23.1% | −42% / +138% |
| MARAMara Holdings, Inc. | 2.7 bn | — | -107.2% | -430.2% | +38.2% | −42% / −43% |
| UPSTUpstart Holdings, Inc. | 2.3 bn | 39.9 | 8.0% | 4.9% | +64.0% | −48% / −13% |
| PURRHyperliquid Strategies Inc | 1.9 bn | 3.0 | 32.6% | 3,229.8% | unavailable | unavailable / unavailable |
| CLSKCleanSpark, Inc. | 1.7 bn | — | -68.6% | -130.2% | +102.2% | −55% / +9% |
| BTDRBitdeer Technologies Group | 1.5 bn | — | -196.7% | -171.3% | −5.1% | −51% / +45% |
| RHLDResolute Holdings Management, Inc. | 1.0 bn | 24.1 | — | 4.2% | +9.9% | −26% / unavailable |
| CDChaince Digital Holdings Inc. | 741.4 m | — | -12.3% | -182.5% | +277.9% | −30% / +622% |
| GDOTGreen Dot Corp | 727.1 m | — | -2.8% | -1.1% | +20.7% | +2% / +59% |
| TRONTron Inc. | 664.1 m | 96.8 | 3.8% | 135.6% | +10.0% | −24% / −48% |
| JFU9F Inc. | 536.7 m | 23.2 | 4.7% | 125.2% | +12.2% | −52% / −43% |
| BTBTBit Digital, Inc. | 300.9 m | — | -56.7% | -237.2% | +5.1% | −65% / −68% |
| CANGCango Inc. | 272.7 m | — | -130.8% | -90.4% | +524.3% | −92% / −76% |
| DGXXDigi Power X Inc. | 217.0 m | — | -24.7% | -114.8% | −7.6% | −65% / +57% |
| CNTNCanton Strategic Holdings, Inc. | 172.1 m | — | -43.1% | — | unavailable | −17% / −83% |
| USBCUsbc, Inc. | 166.5 m | — | -414.1% | — | −100.0% | −47% / −97% |
| SNFCASecurity National Financial Corporation | 166.1 m | 6.5 | 9.0% | 11.1% | +3.0% | +15% / +37% |
| TONXTon Strategy Company | 159.7 m | — | -75.5% | -532.8% | +1,327.8% | −15% / −93% |
| BMHLBluemount Holdings Limited | 79.0 m | 61,098.2 | 26.2% | 18.8% | unavailable | −8% / unavailable |
| UPXIUpexi, Inc. | 62.9 m | — | -1,356.3% | -984.3% | +58.1% | −73% / −95% |
| SGRXSangrix Inc. | 40.8 m | — | -300.3% | -36,190.3% | −98.6% | −99% / −100% |
| AVXAvax One Technology Ltd. | 34.9 m | — | -189.6% | -1,533.9% | +8,709.3% | −80% / −100% |
1- and 3-year price returns: for DGXX from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Digi Power X is an energy infrastructure company shifting from bitcoin mining toward data centers for artificial intelligence and high-performance computing. In the second quarter of 2026 it reported revenue of about $6.6 million 3 and a contracted AI revenue base of $1.1 billion 3, which keeps investors focused on the transition.
SWOT
Strengths
Weaknesses
- Revenue is still small and concentrated in a few projects, and the net loss in the second quarter shows the cost of expansion 3.
- The decline in bitcoin mining has removed a known revenue source while the new segments are still being built 1.
- The company has a limited operating history in AI and depends on equipment suppliers and large customers 1.
Opportunities
- If the North Carolina land and New York sites find demand, the company could expand AI capacity 3.
- The expansion option in the main contract could increase the total value of the customer relationship 3.
- The ARMS modular platform of US Data Centers could generate revenue from selling systems to other operators 1.
Risks
- Execution of the Alabama projecthigh
Delivery of the IT capacity phases depends on the construction schedule, and delays could affect contracted revenue 3.
- Financinghigh
The company is negotiating financing for the data center and may need additional capital; terms could be less favorable if markets change 3.
- Customer concentrationmedium
Major revenue comes from one main contract, and losing that customer could seriously affect results 3.
- Crypto asset volatilitymedium
Holdings of bitcoin and Ethereum are measured at market value, and price declines can produce accounting losses 2.
- Regulationmedium
Changes in laws on digital assets, energy and AI data may change the company's obligations and costs 1.
Investment thesis
What would need to be true (bull case)
- If the Alabama project is delivered on time, the company could demonstrate a credible operating record for AI customers.
- A debt-free balance sheet and access to its own power could support expansion without costly financing.
- Long-term contracts and the expansion option could turn the company into a provider of AI capacity with recurring revenue.
What would break the thesis
- The net loss in the second quarter shows that expansion is costly, and current revenue remains small relative to spending.
- Dependence on one major contract and on external financing could limit flexibility if plans change.
- The decline in bitcoin mining reduces a revenue source, and the new segments could face strong competition and delays.
What to watch
- Delivery of the 15 MW Phase 1 in Alabama and the trend of quarterly revenueQ4 2026
- Closing of financing for the Alabama data center2026
- Reaching the annualized revenue run-rate and delivering the colocation and GPU contractsQ3 2027
- Timetable for expansion in New York and North Carolina2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Digi Power X Inc. (Nasdaq: DGXX) describes itself as an energy infrastructure company that develops, owns and operates data centers, offering colocation and AI/GPU infrastructure services 1. It runs three sites in New York and Alabama, plus a 60 MW gas-fired plant in North Tonawanda that operates as a peaker plant for the grid 1. Bitcoin mining was the core activity until 2025, but in 2026 the company focuses on AI infrastructure through its US Data Centers subsidiary and the NeoCloudz platform 13.
The balance sheet strengthened in 2026: the company reported cash and cash equivalents of $142.4 million at June 30, 2026 and no debt, according to its release 3. Total assets of $279.6 million 3 include computing equipment and power infrastructure. The company also invested about $110 million year-to-date in capital and equipment deposits 3.
The company targets an annualized revenue run-rate of $250 million to $300 million by Q3 2027, subject to contracting and deployment schedules 3. If the Alabama build stays on schedule, 2026 and 2027 could show a significant change in the revenue profile, but the target depends on execution and financing.
Segments
AI data centers and colocation
The colocation and AI segment includes the Columbiana, Alabama site, where Phase 1 of 15 MW is expected in December 2026 and Phase 2 of 25 MW in March 2027, for up to 40 MW of IT load 3. A 10-year AI data center agreement represents about $1.1 billion of contracted revenue, with an option to expand 3.
GPU compute and energy
The NeoCloudz platform offers GPU bare-metal compute and generated the company's first AI compute revenue in Q2 2026 from about five weeks of operation 3. The energy segment includes power sales and the 60 MW North Tonawanda plant 1. Energy sales were $1.9 million in Q2 2026 3.
Market context
The market for AI and high-performance computing data centers is dominated by operators with large capital resources and long-term power contracts 1. The company aims to compete through access to land and available power, which currently totals 196.7 MW across New York and Alabama, plus 200 MW planned in North Carolina 1. Access to power at reasonable prices remains central to this market 1.
Bitcoin mining remains a volatile market in which revenue depends on the bitcoin price and network difficulty 2. The company has reduced its own mining, so exposure to this segment has diminished and mining revenue has become a secondary component 2.
Trends
- Demand for AI infrastructuretailwind
Demand for AI computing capacity supports the company's data center projects, and the $1.1 billion contract illustrates customer interest in contracted capacity 3. If demand holds, the company could convert available power into recurring revenue faster.
- Decline of bitcoin miningheadwind
The volume of bitcoin mined fell sharply, by 82% in 2025 versus 2024 1, and declined further in the first half of 2026 compared with 2025 2. This decline reduces mining revenue and increases reliance on new segments.
- Regulation and energy policymixed
Rules on digital assets, environmental requirements and energy policy are changing quickly, and companies in the sector could face new compliance demands 1. Energy regulation could raise operating costs if it becomes stricter.
- Financing and executionmixed
The company is in advanced discussions with lenders on financing for the Alabama data center and has engaged an investment bank to syndicate the debt 3. Obtaining financing on acceptable terms could support the timetable, while delays could postpone planned revenue.
Competitive position
Competition in bitcoin mining comes from companies such as Riot Platforms, MARA Holdings, Bitfarms, Argo Blockchain, Hut 8, HIVE Digital Technologies and Cipher Digital 1. In the AI and HPC segment the company competes with data center operators and infrastructure providers with larger capital resources, such as Equinix, Digital Realty and CoreWeave 1.
Competitors could have faster access to capital and long-term power contracts, allowing them to respond more quickly to new opportunities 1. The company differentiates by combining its own power with data center infrastructure, but it remains a smaller operator than these groups 1.
- Riot PlatformsRIOT
Bitcoin mining company competing with Digi Power X for power and equipment 1.
- MARA HoldingsMARA
Bitcoin mining operator named as a direct competitor in the mining sector 1.
- CoreWeaveCRWV
AI infrastructure provider named as a competitor in AI compute 1.
- EquinixEQIX
Large data center operator competing for customers and access to power 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Digi Power X president, CEO both buy shares in open-market purchasesYahoo Finance — News · 24 Aug 2026 · EN
The latest news item in our archive is from 24 Aug 2026; the newest SEC filing is from 02 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Proxy statement02 Nov 2026
- Quarterly report14 Aug 2026
- Current report14 Aug 2026Results of operations · Financial statements and exhibits
- Current report04 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Current report07 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Current report03 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report15 May 2026Results of operations · Financial statements and exhibits
- Quarterly report15 May 2026
- Current report08 May 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report08 May 2026Material agreement · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Digi Power X Inc. · 31 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Digi Power X Inc. · 14 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Digi Power X Inc. · 14 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.