DigiPower X Conference Summary Company Overview - **Company Name**: DigiPower X Incorporated - **Stock Symbols**: NASDAQ: DGXX, TSX: DGX - **Market Capitalization**: Approximately $275 million as of November 30, 2025 [6][8] - **Cash and Cash Equivalents**: $97 million, with $90 million in money market funds and T-bills, and $7 million in Bitcoin and Ethereum [7][8] - **Insider Ownership**: 10.8%, primarily held by Founder, Chairman, and CEO Michel Amar [8][9] Business Transition - **Current Focus**: Transitioning from historic Tier 1 Bitcoin mining operations to Tier 3 high-performance computing (HPC) data centers, primarily for artificial intelligence (AI) workloads [4][9] - **Key Product**: ARMS200 (AI Ready Modular Solutions) - patented modular pods designed for HPC AI infrastructure, featuring liquid-cooled Supermicro racks and NVIDIA Blackwell GPUs [5][24] - **New Division**: NeoClouds - GPU as a service offering on-demand chips and infrastructure for AI workloads [5][26] Operational Footprint - **Facilities**: - **Columbiana, Alabama**: Former Bitcoin mining operation being converted to a Tier 3 data center with 70 megawatts of capacity [12][13] - **North Tonawanda, New York**: Owns a power plant rated for 123 megawatts, transitioning to a Tier 3 data center hub [13][16] - **Buffalo, New York**: 19 megawatts facility utilizing hydro power from Niagara Falls, also transitioning to Tier 3 [14] - **North Carolina**: Development site with an approved 200 megawatt load study, located next to a Duke Energy switchyard [15] Market Dynamics - **Industry Growth**: The demand for AI and Tier 3 data centers is described as insatiable, with a significant lack of infrastructure to meet current needs [11][19] - **Valuation Differentials**: Tier 3 data centers are trading at approximately 12.5 times enterprise value to EBITDA, compared to 5.6 times for legacy Bitcoin mining operations [31] Future Prospects - **Expected Growth**: Anticipates having 20 megawatts of clients booked by mid-2026 and up to 40 megawatts by the end of 2026 in Alabama [28] - **Potential Valuation**: If the Alabama facility reaches 70 megawatts, it could imply a market cap of $500 million by mid-2026 [29] - **Long-term Vision**: Plans to convert all existing infrastructure (approximately 412 megawatts) into Tier 3 data centers, which could significantly increase company valuation [32] Strategic Collaborations - **Partnership with Supermicro**: Collaboration to design and manufacture modular Tier 3 systems [24] - **Collaboration with NanoNuclear**: Exploring small modular reactor technology for future energy needs [19][20] Revenue Model - **Colocation Pricing**: Expected to be around $150 per kilowatt per month for colocation services [35] - **NeoClouds Pricing**: Competitors charge $15-$20 per hour per chip, with potential for significant monthly revenues [36][37] Conclusion - DigiPower X is positioned to capitalize on the growing demand for AI and HPC infrastructure through its strategic transition from Bitcoin mining to Tier 3 data centers, supported by a robust operational footprint and innovative product offerings. The company is actively pursuing growth opportunities and partnerships to enhance its market position and shareholder value.