Digi Power X AI Revenue More Than Doubles to 46% of Sales

The Tip Desk · November 13, 2026 · 3 min read

Third-quarter revenue was $12.25 million as GPU rental and Tier III colocation lifted AI to $5.66 million, with Columbiana Phase 1 billing expected in January 2027.

Digi Power X Inc. (DGXX), an AI data center infrastructure operator, reported third-quarter revenue of $12.25 million, up 85% from the prior quarter and 50% from the year-ago period.

AI revenue was the defining shift. The company recorded $5.66 million of AI revenue, more than 400% above the previous quarter and 46% of total sales, compared with nil AI revenue a year earlier. GPU rental rose 127% from the prior quarter to $2.46 million. Tier III colocation contributed $3.20 million, or 26.1% of revenue.

Legacy Bitcoin colocation was $3.11 million, or 25.4% of the mix. The company said legacy Bitcoin activities fell to about 27% of revenue from about 63% in the year-ago quarter, and that AI revenue more than offset the decline. Energy sales were $3.29 million, up 68% sequentially. Digital currency mining and staking added $0.18 million.

GAAP gross loss narrowed 56% to $2.41 million from $5.48 million in the second quarter. Gross profit before depreciation and amortization swung to $3.08 million from a $1.46 million loss. Net income was $1.0 million, or $0.01 a share, versus a $14.36 million net loss in the prior quarter. The company said the profit was materially supported by digital-currency and warrant valuation gains. EBITDA was $6.5 million and Adjusted EBITDA $0.6 million, versus $1.7 million and negative $1.0 million a year earlier.

The company launched the NeoCloudz Token Factory in the quarter, selling AI inference tokens directly on its own power, data centers and GPUs. President Alec Amar said the platform is a step in turning infrastructure into a full-scale AI business. Chairman and Chief Executive Officer Michel Amar said revenue increased 85% over the previous quarter and that AI now accounts for nearly half of the business, all before the expected start of Columbiana colocation billing in January 2027.

Construction of Columbiana Phase 1 (15 MW) remained on schedule. The company expects tenant access and commissioning on December 15, 2026, with billing in January 2027. Phase 2 (25 MW) is underway, with tenant access targeted for March 2027, subject to conditions. The ten-year take-or-pay agreement with Cerebras is expected to provide Phase 1 annual fees averaging about $40 million a year, or about $402 million over the initial term. If Phase 2 commences, combined average annual fees would be about $107 million and total contract value about $1.07 billion, with an option that could lift potential value to about $2.5 billion.

Cash, cash equivalents and digital currencies ended at $119.6 million, with $103.0 million of working capital and no outstanding borrowings. Net fixed assets nearly doubled to $145.6 million from $73.24 million. Shareholders’ equity was $279.9 million.

A $200 million credit facility syndicated by Goldman Sachs is currently expected to close in the fourth quarter of 2026, subject to definitive documentation and conditions, to support the 40 MW Columbiana project. The company expects an annualized revenue run-rate of about $250 million to $300 million by the end of the third quarter of 2027, subject to financing and market conditions. About $143 million of that run-rate is supported by current operations and the Columbiana agreement, including conditional Phase 2. Planned 2027 capital expenditures of about $350 million are expected to be funded principally through customer deposits and contract-backed debt.