Digi Power X Announces ARMS 200 Commissioning and Timetable for Generating its First AI Revenues

Executive Summary

• Digi Power X announced the first ARMS 200 modular data‑center system will go live in March 2026 and expects GPU‑as‑a‑Service revenue to begin in April 2026.
• The company disclosed ~US$80 million of liquidity (cash, BTC & ETH) and a 2026 capital deployment plan targeting total CapEx of ≈US$33.1 million, with 10 MW of AI‑ready capacity slated for Q3 2026 (~US$150 million annualized revenue potential).
• Additional material items include a non‑binding LOI for a strategic partnership with a 1.3 GW power plant, the addition of former Verizon CEO Hans Vestberg as senior advisor, and uplisting to Cboe Canada.

Key Details

• ARMS 200 Deployment
• First system at Alabama site commissioned for live operations (third week March 2026); full commissioning & GPU‑as‑a‑Service revenue expected by early April 2026.
• Target: 10 MW of pods operational at Alabama by Q3 2026.

• Five additional ARMS 200 units completed for North Tonawanda, NY; commissioning anticipated by end of Q2 2026.

• Revenue Projections

• Anticipated revenue ≈US$15 million per MW deployed (based on current market pricing & near‑capacity utilization).

• With 10 MW by Q3 2026, projected annualized revenue ≈US$150 million.

• Liquidity (as of Feb 27 2026)

• Cash: ~US$62 million
• BTC holdings (≈12 BTC @ $66,000): ~US$12 million
• ETH holdings (≈6,000 ETH @ $2,000): ~US$6 million

• Total liquidity: ~US$80 million

• 2026 Capital Deployment Plan

• Infrastructure CapEx YTD (through Feb 28 2026): ≈US$13.1 million

• Expected total CapEx by end of Q3 2026: ≈US$33.1 million (additional ~US$20 million forecast).

• Energy Curtailment

• Participated in load‑curtailment programs during Jan–Feb 2026 to support grid reliability amid high energy costs.

• Strategic Partnership LOI

• Non‑binding LOI with Omnis Pleasants LLC (owner of 1.3 GW Pleasants Power Station, WV).
• Intent: conduct load and interconnection study for up to 1.3 GW; explore long‑term lease of up to 200 acres for AI/compute infrastructure deployment.

• Due diligence extended by 120 days; further updates forthcoming.

• Senior Advisor Appointment

• Hans Vestberg, former Verizon Chairman & CEO, joins Digi Power X’s Advisory Board as senior advisor.

• Focus areas: AI infrastructure scaling, edge‑compute architecture, strategic hyperscaler partnerships, power optimization, Tier 3 reliability, international expansion.

• Cboe Canada Uplisting

• Effective Feb 27 2026, uplisted from TSX Venture to Cboe Canada; shares continue trading on Nasdaq (DGXX) and Cboe Canada (DGX).
• Remains a reporting issuer under Canadian securities laws.

Notable Quotes

• “Our transition from Bitcoin mining to AI infrastructure is now tangible – the first ARMS 200 unit will be live this month, marking the start of our GPU‑as‑a‑Service revenue stream.” – Michel Amar, CEO
• “The partnership with Omnis Pleasants positions us to secure massive power capacity essential for scaling high‑performance AI workloads.” – Hans Vestberg, Senior Advisor

Materiality: Material – Positive (significant operational milestones, substantial liquidity disclosure, forward‑looking revenue potential, strategic partnership and advisory appointments).