Digi Power X Inc.
- Open
- 4.40
- Day high
- 4.50
- Day low
- 4.03
- Prev close
- 4.25
- Volume
- 3.3M
- Mkt cap
- $302M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.6
- P/S
- 9.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$98K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions accumulating (13F)
Digi Power X Inc. (DGXX) is a Technology company listed on NASDAQ. The stock is up 65% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Digi Power X Inc. (DGXX) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
DGXX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 15, 2026 | $-0.05 | $-0.07 | -40.0% | $7M | -39.2% |
| Mar 31, 2026 | $-0.14 | $-0.31 | -121.4% | $9M | +8.9% |
| Nov 13, 2025 | $-0.11 | $-0.03 | +72.7% | $8M | -26.9% |
| Aug 14, 2025 | $-0.35 | $-0.28 | +20.0% | $8M | -23.9% |
| Mar 31, 2025 | $-0.15 | $-0.10 | +33.3% | $9M | -40.8% |
| Nov 14, 2024 | $-0.13 | $-0.17 | -30.8% | $9M | -24.7% |
| Aug 14, 2024 | $-0.22 | $-0.16 | +27.3% | $9M | +13.9% |
| Apr 2, 2024 | $-0.02 | $-0.19 | -750.1% | $13M | +40.2% |
| Mar 29, 2024 | $-0.04 | $-0.34 | -750.0% | $11M | +20.4% |
| Nov 13, 2023 | — | $-0.11 | — | $5M | — |
| Aug 14, 2023 | — | $-0.12 | — | $6M | — |
| Mar 31, 2023 | — | $0.02 | — | $4M | -62.0% |
DGXX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 5, 2026 | Amar Alecdirector, officer: President | Sell | 27,500 | $3.56 |
| Apr 9, 2026 | Amar Alecdirector, officer: President | Sell | 25,700 | $2.26 |
| Apr 2, 2026 | Amar Alecdirector, officer: President | Sell | 1,800 | $2.25 |
| Mar 25, 2026 | Jeyapaul Jaganathanofficer: Chief Technology Officer | Grant | 50,000 | $2.39 |
| Mar 3, 2026 | Amar Alecdirector, officer: President | Sell | 27,500 | $2.86 |
| Feb 11, 2026 | Ciullo Paul Anthonyofficer: Chief Financial Officer | Option | 8,333 | — |
| Feb 11, 2026 | Amar Micheldirector, 10 percent owner, officer: Chief Executive Officer | Option | 166,666 | — |
| Feb 11, 2026 | Rotonda Gerarddirector | Option | 3,333 | — |
| Feb 11, 2026 | Amar Alecdirector, officer: President | Option | 133,333 | — |
| Feb 11, 2026 | Rossman Adam Stevendirector | Option | 3,333 | — |
| Feb 3, 2026 | Rotonda Gerarddirector | Grant | 100,000 | $2.60 |
| Feb 3, 2026 | Amar Alecdirector, officer: President | Sell | 27,500 | $2.53 |
| Jan 15, 2026 | Amar Alecdirector, officer: President | Sell | 27,500 | $2.72 |
Source: DGXX SEC Form 4 filings, latest May 5, 2026. For informational purposes only — not investment advice.
See the full DGXX insider & 13F page →Digi Power X Inc. company profile
Overview
Digi Power X Inc. (NASDAQ:DGXX) is an energy infrastructure company that went public in January 2021. The company operates at the intersection of energy generation and digital infrastructure, developing data centers and energy assets to support high-performance computing applications. Originally focused on cryptocurrency mining operations, the company has been strategically pivoting toward providing colocation services and infrastructure for artificial intelligence and high-performance computing workloads while maintaining its energy generation capabilities.
Business
Digi Power X operates in the energy infrastructure sector, specifically focusing on the development and operation of data centers powered by proprietary energy assets. The company's business model centers around owning and operating power generation facilities that supply electricity to digital infrastructure operations. The company operates through three primary business segments: 1. **Colocation Services** (~29% of 2024 revenue): This segment provides hosting services for third-party customers' computing equipment, particularly cryptocurrency mining hardware and increasingly high-performance computing (HPC) infrastructure. Colocation involves renting out space, power, and cooling in the company's data centers to customers who bring their own hardware. This business model is similar to traditional data center operators but focuses on high-power density applications. 2. **Digital Mining** (~28% of 2024 revenue): The company operates its own cryptocurrency mining operations, primarily Bitcoin mining, using specialized computer hardware called ASICs (Application-Specific Integrated Circuits) that solve complex mathematical problems to validate blockchain transactions and earn cryptocurrency rewards. 3. **Energy Sales** (~28% of 2024 revenue): This segment involves selling excess electricity generated by the company's power plants to the electrical grid or directly to other customers. The company owns and operates power generation facilities, including natural gas plants, which can produce electricity beyond what's needed for their digital operations. The remaining revenue comes from various other services. The company's infrastructure includes approximately 100 MW of developed power capacity across multiple facilities in Alabama, New York, and planned expansion in North Carolina, with a current mining hash rate of 3 EH/s (exahashes per second, a measure of computational power in cryptocurrency mining).
Revenue model
Digi Power X generates revenue through multiple complementary streams that leverage its core asset base of power generation facilities and digital infrastructure. The company's business model is built around maximizing the utilization and monetization of its energy assets. **Revenue Generation Methods:** The colocation services generate revenue through hosting fees charged to customers who place their computing equipment in the company's facilities. Customers pay for power consumption, rack space, and infrastructure services on typically long-term contracts. This creates a relatively stable revenue stream with predictable monthly recurring income. Digital mining operations generate revenue through cryptocurrency rewards earned by successfully mining Bitcoin and other cryptocurrencies. Revenue from this segment is directly tied to cryptocurrency prices, mining difficulty, and the company's operational hash rate. The company earns Bitcoin rewards approximately every 10 minutes based on its share of the global mining network's computational power. Energy sales provide revenue through wholesale electricity sales to the grid or direct sales to industrial customers. The company can optimize between using power for its own digital operations or selling excess capacity to the market based on prevailing electricity prices and demand from its digital infrastructure. **Margin Influencing Factors:** Several factors significantly impact the company's profitability. Cryptocurrency prices, particularly Bitcoin, directly affect mining revenue and can cause substantial margin volatility. Electricity costs and natural gas prices impact both operational expenses and the competitiveness of energy sales. The company benefits from owning its power generation, providing some insulation from energy price volatility that affects competitors. Competition in the cryptocurrency mining space affects mining difficulty and reward distribution, while the growing demand for AI and HPC infrastructure creates opportunities for higher-margin colocation services. Regulatory changes affecting cryptocurrency mining or energy markets could impact operations, and seasonal variations in electricity demand affect energy sales opportunities. Equipment efficiency and technological obsolescence in mining hardware also influence long-term profitability, requiring ongoing capital investment to maintain competitiveness.
Competitive moat
Digi Power X's competitive moat is **moderate but improving**, primarily built around its integrated energy-digital infrastructure model. The company's key competitive advantage lies in owning and operating its own power generation facilities, which provides cost control and energy security that many competitors lack. This vertical integration allows the company to optimize between different revenue streams based on market conditions - using power for mining when cryptocurrency prices are high, selling excess energy when electricity prices are favorable, or dedicating capacity to colocation services for stable recurring revenue. The company's strategic positioning in the growing AI and high-performance computing infrastructure market strengthens its moat. As demand for AI computing power increases, the company's ability to provide both power and data center infrastructure creates a differentiated offering. The planned development of Tier 3 data center facilities positions the company to serve enterprise customers requiring high-reliability infrastructure. **Competitive Vulnerabilities:** However, the moat faces several challenges. The cryptocurrency mining industry is highly competitive with low barriers to entry, and mining profitability is subject to significant volatility from Bitcoin price fluctuations and increasing network difficulty. Large technology companies and traditional data center operators with deeper pockets could potentially compete for the same HPC and AI infrastructure customers. The company's relatively small scale compared to major data center operators like Digital Realty Trust or Equinix limits its ability to achieve economies of scale. Additionally, the energy infrastructure requires substantial ongoing capital investment for maintenance and expansion, and regulatory changes in either cryptocurrency or energy markets could impact operations. The transition from mining-focused operations to a more diversified energy infrastructure platform is still in progress, and execution risk remains significant. The company's success will largely depend on its ability to attract and retain colocation customers while maintaining operational efficiency across its energy assets.
Risks & safety
**Overall Assessment**: The margin of safety is **limited** due to tight liquidity conditions and recent operational challenges, though the company maintains a reasonable asset base. **Cash and Solvency Risk:** - Cash position of $1.7 million as of Q4 2024, down from previous quarters - Negative operating cash flow of $18.0 million in Q4 2024 and $17.5 million for full year 2024 - Current ratio of 0.66, indicating current liabilities exceed current assets by approximately $3.4 million - Quick ratio of 0.21, showing limited liquid assets to cover short-term obligations - Low debt-to-equity ratio of 0.009, indicating minimal debt burden **Valuation Metrics:** - EV/EBITDA of 3.29 based on Q4 2024 positive EBITDA of $3.4 million - Price-to-book ratio of 2.12, suggesting moderate premium to book value - Negative return on equity of -2.1% in Q4 2024, though improving from earlier quarters **Other Considerations:** - Total assets of $34.3 million provide some asset backing - Positive EBITDA of $8.9 million for full year 2024 indicates operational profitability at the EBITDA level - Revenue volatility across quarters suggests business model execution challenges - Market cap of approximately $55 million at current price levels
Recent development
Over the past few years, Digi Power X has undergone a significant strategic transformation from a primarily cryptocurrency mining operation to a diversified energy infrastructure platform. The most notable development has been the company's pivot toward colocation services and high-performance computing infrastructure, which has emerged as a major growth driver. **Strategic Business Model Evolution:** The company has successfully developed its colocation services segment, which generated $10.7 million in Q3 2024 compared to zero revenue in the same period of 2023. This represents the company's strategic shift from self-mining operations to providing infrastructure services for third-party customers, creating more stable and predictable revenue streams. **Infrastructure Expansion and Development:** The company has been actively expanding its power capacity and infrastructure footprint. Current operations include approximately 100 MW of developed power capacity with plans for significant expansion. The Columbiana, Alabama facility is being expanded from 22 MW to 55 MW capacity, while the North Tonawanda, New York facility is seeking regulatory approval to expand from 60 MW to 120 MW. Additionally, the company has initiated development of Tier 3 data center infrastructure, with the first 5 MW increment expected by Q4 2025 or early 2026. **Market Positioning for AI and HPC:** A key strategic development has been the company's positioning for the artificial intelligence and high-performance computing market. Management has indicated relationships with large technology companies, including a "$100 billion+ market cap company investing in AI chips," demonstrating the company's evolution from cryptocurrency-focused operations to broader digital infrastructure services. **Operational Challenges and Recovery:** The company experienced significant operational disruptions during 2024, including a major maintenance period at the North Tonawanda power plant that affected approximately two-thirds of Q3 2024 operations. However, the facility returned to full capacity by December 2024, and the company reported positive EBITDA performance despite these challenges.
DGXX company profile · for informational purposes only — not investment advice.
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