Digi Power X CEO discusses Ethereum growth, AI strategy - ICYMI

Core Insights - Digi Power X Inc reported strong financial results for August, with revenues of $3.5 million from Bitcoin mining and energy trading, and a cash balance exceeding $29 million [1][5][6] - The company is valued at over $100 million with an annualized run rate exceeding $40 million, indicating strong growth momentum [2][6] - The ongoing conversion of the Alabama facility into a tier three AI data center is progressing well, with expectations to announce a tenant by the end of the year [7][9] Financial Performance - Revenues for August reached $3.5 million, driven by Bitcoin mining and energy trading activities [1][5] - The company holds a cash balance of over $29 million, which includes US dollars, Bitcoin, and Ethereum [1][5] - Ethereum holdings have increased significantly, with over 1,000 ether acquired, reflecting a 93% month-over-month growth [5][6] Strategic Developments - The Alabama facility is being converted into a tier three AI data center, with a power capacity of 40MW and total power availability of 55MW [8] - The company is collaborating with Super Micro to implement AI-ready modular solution pods that can scale from half a megawatt to the full capacity of the site [8] - Discussions are ongoing with major institutions for project financing, anticipated to be on favorable terms [9] Market Position - There is increasing institutional interest in Digi Power X, with new research coverage initiated by Alliance Global Partners [10][11] - The company is experiencing heightened demand in the cryptocurrency space, which is described as "white hot" [11] - The focus remains on executing the development of the Alabama facility and securing tenants [11]