Digi Power X(DGXX)가 The Globe and Mail에 따르면 2026년 3분기 실적 발표 콘퍼런스콜 녹취록을 공개했다.

**Date:** Friday, Nov. 13, 2026

**Call Participants**

- Michel Amar, Chairman & Chief Executive Officer

- Alec Amar, President

**Key Takeaways**

- **Revenue:** $12.25 million, up 85% from the second quarter of 2026, driven by a sharp increase in demand for AI-related infrastructure services.

- **AI Revenue:** $5.66 million, up more than 400% from the second quarter and now 46% of total revenue.

- **GPU Rental Revenue:** $2.46 million, up 127% from the second quarter as the NeoCloudz platform scaled its bare metal operations.

- **Energy Sales:** $3.29 million, up 68% from the second quarter of 2026 and 9% year over year.

- **Legacy Bitcoin Revenue:** $3.11 million, declining to 25.4% of total revenue from 63% in the third quarter of 2025 as the company transitioned toward AI infrastructure.

- **Net Income:** $1.0 million, materially supported by digital currency and warrant valuation gains, compared with $0.1 million in the third quarter of 2025.

- **EBITDA:** $6.5 million, up from $1.7 million in the third quarter of 2025.

- **Non-GAAP Adjusted EBITDA:** $0.6 million, compared with negative $1.0 million in the same period last year.

- **Cash and Digital Currencies:** $119.6 million, providing a foundation for upcoming infrastructure development and operational scaling.

- **Working Capital:** $103.0 million, compared with $17.5 million at Sept. 30, 2025.

- **Digital Currency Holdings:** $24.5 million, up 66% year over year.

- **Net Fixed Assets:** $145.6 million, up 646% year over year due to infrastructure investments at the Columbiana facility.

- **Year-to-Date Capital Expenditures:** $168 million, deployed toward GPU equipment and data center build-outs.

- **Columbiana Phase I Annual Fees:** $40 million on average over a 10-year term under a take-or-pay agreement with Cerebras.

- **Total Columbiana Contract Value:** $1.07 billion, representing combined fees for Phase I and Phase II over the initial 10-year term.

- **Potential Total Contract Value:** $2.5 billion, if the tenant exercises options to extend the relationship for an additional term.

- **Proposed Debt Financing:** $200 million, syndicated by Goldman Sachs to support development of a 40 MW data center in Columbiana.

- **Annualized Revenue Run-Rate Guidance:** $250 million to $300 million, targeted for the end of the third quarter of 2027, subject to adequate financing and market conditions.

- **2027 Capital Expenditure Guidance:** $350 million, primarily for building 10 MW of AI inference capacity and completing Columbiana Phase II.

- **USDC Ownership:** 48%. The company accounts for this investment under the equity method as USDC independently raises capital for modular systems.

- **Non-Refundable Infrastructure Contribution:** $12 million received from a tenant in the third quarter, which contributed to positive cash flow of $4.7 million.

- **SG&A Expenses:** Down 30% from the second quarter of 2026, reflecting management's focus on operational efficiency and financial discipline.

**Risks**

Michel Amar warned that "USDC is raising capital independently, which will further dilute our ownership interest without capital contribution from Digi Power X," adding that the company cannot afford to allocate additional funds beyond its core AI infrastructure focus.

**Summary**

Digi Power X Inc. (NASDAQ: DGXX) reported a transition toward AI infrastructure operations, with AI-related services now representing nearly half of total revenue. Management said the company is focused on completing its Columbiana facility and scaling the NeoCloudz platform to capture growing demand for inference processing. The company confirmed that Phase I tenant access is scheduled for December 15, 2026, and that its forward capital plan prioritizes growth through customer prepayments and project-level debt to minimize equity dilution. Management reported that the scarcity of permitted power assets is increasing the value of the company's current infrastructure portfolio.

President Alec Amar stated, "We own the power, the data centers and the GPUs, and now we're selling tokens directly to customers."

The company is targeting the conversion of its New York assets to AI data center operations beginning in the third and fourth quarters of 2027.

CEO Michel Amar said the company saved approximately 2 percentage points on its proposed debt financing by syndicating the facility through Goldman Sachs.

Management noted that the shift from AI training to inference is accelerating demand, allowing the company to negotiate customer deposits as high as 70% for new contracts.

Michel Amar stated, "Between New York and North Carolina, we can expand to over 400 MW worth of capacity."

The company is preparing to launch industrial robots through USDC this quarter for automated maintenance, including monitoring temperature and humidity in data center environments.

**Industry Glossary**

- **Cerebras:** An AI technology company and the primary colocation tenant for the Columbiana facility.

- **NeoCloudz:** The company's platform for providing GPU-as-a-Service on bare metal infrastructure.

- **GPU:** Graphics Processing Unit, a specialized processor used for AI and data processing.

- **MW:** Megawatt, a unit of power equal to 1 million watts.

- **Token Factory:** A platform that sells AI inference directly to customers based on tokens processed.

- **USDC:** US Data Centers Inc., a modular AI data center designer in which Digi Power X holds a 48% interest.

- **Bare Metal:** Physical server hardware rented to a single tenant without a virtualization layer.

- **Colocation:** A service in which a provider offers data center space, power, and cooling for a customer's own hardware.

- **Take-or-Pay:** A contract clause requiring the buyer to pay for a specified amount of services regardless of usage.

**Full Conference Call Transcript**

**Moderator:** Good morning, and welcome to the Digi Power X Inc. Third Quarter 2026 Financial Results Conference Call. This event is being recorded, and a transcript will be available on Digi Power X Inc.'s website. All participants are in listen-only mode. A brief question-and-answer session will follow the formal presentation. Unless noted otherwise, all amounts referred to during this call are denominated in U.S. dollars. Certain comments made during this call may include forward-looking statements or forward-looking information within the meaning of applicable U.S. and Canadian securities laws, including statements regarding the company's 2027 outlook, capital plan, and anticipated financing.

Such statements reflect current expectations and are subject to a variety of risks and uncertainties that could cause actual results to differ materially. These include, but are not limited to, factors discussed in Digi Power X Inc.'s Form 10-Q for the three and nine months ended September 30, 2026, its annual report for the year ended December 31, 2025, and its other disclosure documents. Except as required by applicable law, Digi Power X undertakes no obligation to publicly update or revise any forward-looking statements.

During the call, management may refer to certain non-GAAP financial measures that are not separately defined under GAAP, such as EBITDA and adjusted EBITDA. Management believes these measures, when considered together with GAAP financial measures, provide useful information for management and investors. Reconciliations between GAAP and non-GAAP measures are presented in tables accompanying the press release for the quarter ended September 30, 2026, which has been filed on SEDAR+ at www.sedarplus.ca and is available on the SEC's EDGAR website at www.sec.gov/edgar. I would now like to turn the call over to Michel Amar, CEO of Digi Power X. Please go ahead.

**Michel Amar:** Good morning, everyone, and thank you for joining us as we share our results for the third quarter of 2026. Our third quarter results show that Digi Power X's transformation into an AI infrastructure company is beginning to take hold.

Third quarter 2026 highlights: Our revenue rose 85% to $12.25 million from the second quarter of 2026, and 50% from the third quarter of 2025. AI revenue was $5.66 million, up more than 400% from the second quarter and now 46% of total revenue, compared with no AI revenue in the third quarter of 2025. GPU rental bare metal revenue through NeoCloudz was $2.46 million, up 127% from the second quarter, compared with no GPU rental revenue in the third quarter of 2025. Energy sales through our power plant were $3.29 million, up 68% from the second

*[Transcript ends here in the source.]*