Key Points – Digi Power X is pivoting away from crypto mining and toward AI computing infrastructure, with management calling Q1 2026 an “inflection point” as legacy mining revenue declined and AI-related revenue began in May. – The company reported adjusted EBITDA of $1.1…
llion versus a loss a year earlier, while maintaining a strong balance sheet with no long-term debt and substantial cash and digital asset holdings. – AI expansion is now underway: NeoCloudz launched its first GPU rental contract, and Digi Power X plans major data center and colocation build-outs in Alabama, with management outlining ambitious multi-year revenue targets tied to added power capacity. Digi Power X (NASDAQ:DGXX) said its first-quarter 2026 results reflected a strategic transition away from cryptocurrency mining and toward AI computing infrastructure, with management highlighting positive adjusted EBITDA, a debt-free balance sheet and the start of AI-related revenue in May
Chief Executive Officer Michel Amar said the quarter marked “an inflection point” for the company as it deliberately reduced legacy crypto mining operations to make room for AI compute and colocation revenue. Revenue for the three months ended March 31, 2026, was $6.8 million, which management said reflected the planned wind-down of legacy operations. The company reported adjusted EBITDA of $1.1 million for the quarter, compared with negative adjusted EBITDA of $1.3 million in the prior-year period.
Amar said the improvement reflected disciplined capital management, with adjusted EBITDA calculated after deducting non-cash items from the company’s net loss. Balance Sheet Strengthens as Company Maintains No Long-Term Debt As of March 31, 2026, Digi Power X reported cash and cash equivalents of $71.4 million, working capital of $67.2 million and digital asset holdings of $13.6 million, up 208% year over year. Net fixed assets were $26 million, up 29% from the prior year, which management attributed to capitalized…