Digi Power X (TSE:DGX)
NEO-L:DGX
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Digi Power X
(NEO-L:DGX)
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Rating:46Neutral
Price Target:
C$3.50
▼(-7.65% Downside)
Action:ReiteratedDate:01/17/26
The score is primarily held back by weak financial performance—persistent losses, negative gross profit, shrinking equity, and renewed cash burn. Technicals are mixed/neutral with some near-term strength but negative MACD and resistance at longer moving averages. Valuation remains uncertain due to the negative P/E and no dividend yield data.
Positive Factors
Low leverage
Very low reported debt (about $0.2M in 2024) reduces near-term financial risk and interest burden, giving management more runway to repair operations or obtain financing. Low leverage supports resilience during restructuring and limits forced asset sales while other issues are addressed.
Negative Factors
Negative gross profit and losses
Sustained negative gross profit across multiple years indicates core unit economics are broken: revenue is insufficient to cover direct costs. That prevents operating leverage from restoring profitability and means top-line growth alone won't fix margins without structural changes to costs or pricing.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low reported debt (about $0.2M in 2024) reduces near-term financial risk and interest burden, giving management more runway to repair operations or obtain financing. Low leverage supports resilience during restructuring and limits forced asset sales while other issues are addressed.
Read all positive factors
Digi Power X (DGX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$265.66M
Dividend YieldN/A
Average Volume (3M)4.70K
Price to Earnings (P/E)―
Beta (1Y)2.11
Revenue Growth-23.85%
EPS Growth35.05%
CountryCA
Employees15
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)-0.42
Shares Outstanding69,807,450
10 Day Avg. Volume0
30 Day Avg. Volume4,699
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)2.14
Price to Sales (P/S)1.25
P/FCF Ratio-2.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$8.34Price Target Upside119.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.28
Revenue Forecast (FY)C$48.90M
Digi Power X Business Overview & Revenue Model
Company Description
Digi Power X Inc., an energy infrastructure company, develops data centers to drive the expansion of energy assets in the United States. The company operates in three segments: Cryptocurrency Mining, Sales of Energy, and Colocation Services. It al...
How the Company Makes Money
Digihost Technology makes money primarily through its cryptocurrency mining operations. The company's revenue model revolves around the mining of digital currencies, particularly Bitcoin, which is achieved by solving complex mathematical problems ...
Digi Power X Earnings Call Summary
Earnings Call Date:Nov 15, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The earnings call reflected a positive outlook with substantial revenue growth and diversification into colocation services and energy sales. However, this was somewhat offset by a decrease in digital mining revenue and operational downtime due to maintenance. Overall, the company is positioned well for future growth amidst challenges.Positive Updates
Revenue Growth and Expansion
Revenue grew 104% year-over-year to $31.4 million for the 9 months ended September 30, 2024. Expansion of megawatt footprint and colocation agreements with U.S.-based Bitcoin miners are expected to drive future growth.
Negative Updates
Digital Mining Revenue Decline
Digital mining business saw a year-over-year revenue decline from $13.5 million to $10.3 million, primarily due to a reduction in Bitcoin mine following the halving event.
Read all updates
Q3-2024 Updates
Positive
Negative
Revenue Growth and Expansion
Revenue grew 104% year-over-year to $31.4 million for the 9 months ended September 30, 2024. Expansion of megawatt footprint and colocation agreements with U.S.-based Bitcoin miners are expected to drive future growth.
Read all positive updates
Company Guidance
In the third quarter of 2024, Digihost reported significant growth and strategic developments. The company's revenue surged by 104% year-over-year, reaching $31.4 million for the nine months ending September 30, 2024, driven by expanding their megawatt footprint and strengthening partnerships with prominent U.S.-based Bitcoin miners. The adjusted EBITDA for the year stood at $3 million, with a positive $5.5 million EBITDA showing a 3.5x increase from the previous year. Digihost's energy infrastructure strategy has led to a consolidated power capacity of approximately 100 megawatts, with a mining hash rate of 3 EH, and plans to expand this capacity significantly in the coming months. Looking forward, the company aims to enhance its high-performance computing capabilities, expecting high-performance computing to be a primary value driver for its power assets. Additionally, Digihost is advancing infrastructure at its Colombiana, Alabama plant, aiming to expand capacity from 22 megawatts to 55 megawatts, and anticipates regulatory approval in New York to double its capacity from 60 megawatts to 120 megawatts.Digi Power X Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 37.00M | 26.11M | 24.19M | 24.95M | 3.55M |
| Gross Profit | -11.35M | -9.67M | -6.80M | 11.13M | -4.00M |
| EBITDA | 8.91M | -6.52M | 13.83M | 2.78M | -2.35M |
| Net Income | -6.80M | -21.89M | 4.33M | 289.35K | -5.19M |
Balance Sheet | |||||
| Total Assets | 34.32M | 42.15M | 52.60M | 80.03M | 16.52M |
| Cash, Cash Equivalents and Short-Term Investments | 1.70M | 341.27K | 1.85M | 915.72K | 31.25K |
| Total Debt | 204.36K | 1.45M | 1.42M | 0.00 | 5.09M |
| Total Liabilities | 12.34M | 12.90M | 5.42M | 41.77M | 6.08M |
| Stockholders Equity | 21.70M | 29.25M | 47.17M | 70.20M | 10.44M |
Cash Flow | |||||
| Free Cash Flow | -21.32M | 2.68M | -18.10M | -42.78M | -3.40M |
| Operating Cash Flow | -17.53M | 5.69M | -3.41M | -8.86M | -2.25M |
| Investing Cash Flow | 14.72M | -7.26M | -14.51M | -34.72M | -1.27M |
| Financing Cash Flow | 4.18M | 56.11K | 18.86M | 44.47M | 2.25M |
Digi Power X Technical Analysis
Positive
3.79
Price Trends
3.63
Positive
4.12
Negative
4.20
Negative
Market Momentum
0.03
Positive
56.53
Neutral
74.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DGX, the sentiment is Positive. The current price of 3.79 is below the 20-day moving average (MA) of 3.79, above the 50-day MA of 3.63, and below the 200-day MA of 4.20, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 56.53 is Neutral, neither overbought nor oversold. The STOCH value of 74.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:DGX.
Digi Power X Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | C$2.84B | 43.05 | 3.01% | ― | -9.05% | ― | |
62 Neutral | C$208.98M | -322.84 | 1.08% | ― | -5.56% | -124.69% | |
59 Neutral | C$179.70M | -28.58 | -2.82% | ― | -4.34% | 31.52% | |
46 Neutral | C$265.66M | -8.03 | -26.68% | ― | -23.85% | 35.05% | |
45 Neutral | C$5.84M | -0.41 | ― | ― | -13.42% | -126.00% | |
45 Neutral | C$8.66M | -3.84 | 286.87% | ― | 17.18% | 79.56% |
* Utilities Sector Average
TSE:DGX
Digi Power X
3.79
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159.59%
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Digi Power X Corporate Events
Business Operations and StrategyProduct-Related Announcements
Digi Power X Advances AI Infrastructure Strategy with PTC 2026 Presence and ARMS 200 Rollout
Positive
Jan 20, 2026
Digi Power X announced its participation in the PTC 2026 conference in Honolulu, where President Alec Amar will engage with global digital infrastructure leaders to highlight the company’s role in building energy and data center backbones fo...
Business Operations and StrategyProduct-Related Announcements
Digi Power X Targets AI Infrastructure Growth With PTC Appearance and ARMS 200 Rollout
Positive
Jan 20, 2026
Digi Power X announced its participation in the PTC 2026 conference in Honolulu, positioning the company among global digital infrastructure decision-makers as it seeks to deepen relationships with industry leaders, potential partners, and institu...
Business Operations and StrategyLegal ProceedingsPrivate Placements and Financing
Digi Power X Reaches Settlement With H.C. Wainwright Over Financing Dispute
Negative
Jan 10, 2026
Digi Power X Inc. has entered into a settlement agreement with H.C. Wainwright Co., LLC to resolve a dispute over compensation related to a registered direct financing completed in July 2025. Under the terms of the agreement, Digi Power X will pa...
Business Operations and Strategy
Digi Power X Signs LOI for 1.3 GW Power Plant Partnership to Power AI Infrastructure
Positive
Jan 7, 2026
Digi Power X has entered into a non-binding letter of intent with Omnis Pleasants LLC, owner of the 1.3 GW Pleasants Power Station in West Virginia, to pursue a strategic partnership aimed at supporting large-scale AI and high-performance computin...
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Digi Power X Leverages 1,150% Liquidity Surge to Accelerate Shift into AI Data Centers
Positive
Jan 6, 2026
Digi Power X reported a 1,150% year-over-year increase in liquidity to approximately $100 million as of January 1, 2026, driven by cash, crypto holdings, and deposits, while remaining debt-free. This strengthened balance sheet is intended to self-...
Business Operations and StrategyExecutive/Board Changes
Digi Power X Appoints New CTO to Boost AI Infrastructure
Positive
Dec 8, 2025
Digi Power X has appointed Jagan Jeyapaul as its new Chief Technology Officer, a move expected to enhance the company’s technological capabilities and strengthen its position in the AI infrastructure sector. With Jeyapaul’s extensive e...
Business Operations and StrategyProduct-Related Announcements
Digi Power X Advances AI Infrastructure with New GPU Cluster and NeoCloudz Launch
Positive
Dec 3, 2025
Digi Power X announced the deployment of its first NVIDIA B200 GPU cluster in Alabama, marking a significant step in its AI infrastructure roadmap. The company plans to launch its NeoCloudz platform in Q1 2026, providing scalable GPU compute acces...
Business Operations and Strategy
Digi Power X Grants Stock Options and RSUs to Key Personnel
Positive
Nov 20, 2025
Digi Power X announced the grant of 1,430,000 stock options and 700,000 restricted share units to its officers, directors, management, key consultants, and employees. This move is part of the company’s stock option and restricted share unit ...
Business Operations and StrategyFinancial Disclosures
Digi Power X Achieves Profitability and Advances AI Infrastructure Plans
Positive
Nov 13, 2025
Digi Power X reported positive net earnings for Q3 2025, marking a significant turnaround from the previous year, with a strong balance sheet and no long-term debts. The company expanded its digital currency holdings and invested heavily in AI inf...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.