Digi Power X Touts $78.5M Cash Surge, AI Pivot, and Hydropower Approval

CFO highlights transformational year with strengthened balance sheet and strategic shift from crypto mining to AI data centers.

Apr. 1, 2026 at 11:12pm

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Digi Power X's Chief Financial Officer Paul Ciullo reported the company's fiscal 2025 results reflected a 'transformational year,' marked by a significantly strengthened balance sheet and a strategic pivot away from Bitcoin mining toward artificial intelligence-focused data center infrastructure. Ciullo highlighted the company's surging cash position, growing revenues, and regulatory approvals for hydroelectric power capacity as key drivers of the transition.

Why it matters

Digi Power X's shift from crypto mining to AI infrastructure demonstrates the company's ability to adapt to changing market conditions and leverage its existing power generation assets to capture higher-growth opportunities. The focus on AI data centers and clean hydropower positions Digi Power X to meet growing demand for sustainable, high-performance computing.

The details

Ciullo reported Digi Power X's cash position increased over 4,000% to $78.5 million in 2025, with working capital of $86.3 million. Shareholders' equity rose 453% to $123 million. The company also received regulatory approval for 60 megawatts of hydroelectric power capacity in upstate New York. Digi Power X plans to self-fund an initial $40 million capex program in fiscal 2026 to expand its AI data center footprint across sites in Alabama, New York, and North Carolina, totaling 400 MW of available power capacity.

  • Digi Power X expects to generate its first AI revenues as early as the end of April 2026.
  • The company's strategic goal is to activate 90 MW of colocation capacity and 10 MW of GPU-as-a-Service capacity, representing 100 MW of total live AI infrastructure, across its multi-site portfolio in 2026 and 2027.

The players

Paul Ciullo

Chief Financial Officer of Digi Power X.

Digi Power X

A blockchain technology company that focuses on digital currency mining in the United States.

US Data Centers Inc.

A majority-owned subsidiary of Digi Power X that offers independent growth capital opportunities.

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What they’re saying

“Digi Power X transitioned from Bitcoin mining to AI infrastructure as part of a strategy to use its existing power infrastructure to generate higher revenues. He said the pivot is intended to allow the company to 'get a much higher multiple through AI data centers' by leveraging existing infrastructure.”

— Paul Ciullo, Chief Financial Officer

“Ciullo said the company's working capital position and balance sheet provide flexibility as it pursues growth.”

— Paul Ciullo, Chief Financial Officer

What’s next

Digi Power X is in final discussions on a colocation agreement that, if executed, would be a milestone in the transition to recurring AI infrastructure revenues. The company has signed a non-binding letter of intent, and negotiations and legal review of definitive documentation are ongoing.

The takeaway

Digi Power X's strategic pivot from crypto mining to AI data centers, coupled with its strengthened balance sheet and access to clean, low-cost hydropower, positions the company to capitalize on the growing demand for sustainable, high-performance computing infrastructure.