Mar 02, 2026 (MarketLine via COMTEX) --
Digi Power X provided an update on its financial position and progress in executing its AI infrastructure strategy, including deployment of Tier 3 modular data centers powered by owned energy assets.
Digi Power X Inc. ("Digi Power X" or the "Company") (Nasdaq:DGXX)(Cboe Canada:DGX), a vertically integrated AI infrastructure company focused on the deployment of Tier 3 modular data centers powered by owned and controlled energy assets, today provided a comprehensive update on its financial position and the execution of its AI infrastructure strategy. All monetary references are expressed in U.S. dollars unless otherwise indicated.
ARMS 200 Deployment: First System Going Live in March 2026
ARMS 200 modular data center unit being positioned at the Alabama site
ARMS 200 system set up at the Company's Alabama site
Digi Power X continues to make significant strides in its transition from Bitcoin ("BTC") mining to AI infrastructure, targeting the rapidly growing Tier 3 data center market. The Company ceased its BTC mining operations during 2025 at its Alabama facility to transform it into a Tier 3 AI infrastructure hub, and is currently evaluating its existing facilities in New York for conversion of its existing power infrastructure assets into fully functional data centers.
The Company has finalized production of its first ARMS 200 modular data center system at its Alabama site and expects to have it commissioned to provide live operations and customer workload GPUs by the third week of March 2026. Digi Power X anticipates full commissioning of the entire ARMS 200 system with the ability to generate GPU-as-a-Service rental AI income by the beginning of April 2026, with 10 megawatts ("MW") of pods to be operational at its Alabama facility by Q3 2026.
The Company expects to begin generating its first AI-derived revenue in April 2026 through its GPU-as-a-Service platform. Based on current market pricing for server rentals and assuming near-capacity utilization rates, Digi Power X anticipates that revenues of approximately $15 million per MW deployed can be generated. With 10 MW of capacity targeted for deployment by Q3 2026, the Company believes it will be well-positioned for a significant and scalable revenue base as additional capacity comes online across its Alabama and New York sites.
In addition, the production of five additional ARMS 200 units has been completed for deployment at the Company's North Tonawanda, New York location and will be commissioned at the site, anticipated by the end of Q2 2026.
The Company believes it current liquidity positions it to be able to carry out the rollout of its 2026 AI infrastructure development plan, which includes the planned deployment of high-efficiency Tier 3 AI data centers and expansion of the Company's power capacity across multiple U.S. sites. The Company has invested approximately $13.1 million in infrastructure asset purchases year to date, with an additional approximately $20 million forecasted by the end of Q3 2026, to continue its infrastructure expansion and launch its GPU-as-a-Service vertical.
The Company remains debt-free, a significant advantage in the capital-intensive AI infrastructure sector. Digi Power X's financial discipline and strategic execution have allowed it to minimize interest rate risks, and the Company remains committed to self-funding and maintaining a clean balance sheet, underscoring its dedication to long-term growth while minimizing equity dilution for shareholders.
Energy Curtailment
During January and February 2026, the Company elected to actively participate in load curtailment due to high energy costs associated with weather conditions across its locations. By contributing to these load reduction programs, the Company provided crucial grid reliability to surrounding electric consumers.
LOI for Strategic Partnership With 1.3 GW Power Plant
On January 7, 2026, the Company announced that it had entered into a non-binding letter of intent (the "LOI") with Omnis Pleasants LLC, owner of the Pleasants Power Station, a 1.3 gigawatt ("GW") power generation facility located in West Virginia, to pursue a strategic partnership supporting large-scale AI and high-performance computing infrastructure.
Pursuant to the terms of the LOI, the parties intend to conduct a comprehensive load and interconnection study of up to 1.3 GW, evaluating long-term power availability and grid connectivity for energy-intensive computing applications.
The proposed strategic partnership also contemplates a long-term lease of up to 200 acres of land to enable Digi Power X to deploy AI and advanced computing infrastructure utilizing its proprietary ARMS modular Tier III data center platform.
Digi Power X has extended its due diligence efforts for an additional 120 days and will provide further updates as they occur.
Addition of Hans Vestberg, Former Verizon Chairman and CEO, as Senior Advisor
The Company recently announced that Hans Vestberg, former Chairman and Chief Executive Officer of Verizon Communications, has joined the Company as a senior advisor serving on its Advisory Board to support the Company's expansion strategy.
To date, Mr. Vestberg has worked extensively with Digi Power X's executive team on:
AI infrastructure deployment strategy and scaling frameworks;
Distributed and edge-compute architectures for inference-driven workloads;
Strategic partnerships with hyperscalers, enterprises, and infrastructure stakeholders;
Power optimization and energy-efficient data center design;
Tier 3 redundancy and mission-critical reliability standards; and
International expansion strategy and site prioritization.
Cboe Canada Uplisting
The Company is pleased to announce that it uplisted to Cboe Canada effective at market open on February 27, 2026. Following the uplisting from the TSX Venture Exchange to Cboe Canada, the Company's subordinate voting shares continue to trade under the symbol "DGX" on Cboe Canada, and the shares continue to be listed on Nasdaq and trade under the symbol "DGXX." The Company remains a "reporting issuer" under applicable Canadian securities laws following the transition.
By listing on Cboe Canada, Digi Power X connects its forward-looking infrastructure strategy with a Tier 1 stock exchange known for supporting emerging sectors and enhancing capital formation.
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