Hello and welcome to Virtual Investor Conferences. On behalf of Virtual Investor Conferences, we are very pleased you have joined us for our AI and Technology Conference. Our next presentation is from Digi Power X. Please note you may submit questions for the presenter in the box to the left of the slides. You can also view a company's availability for a one-on-one meeting by clicking "Book a Meeting" in the top toolbar. At this point, I'm very pleased to welcome Edward Karr of Digi Power X, which trades on the NASDAQ under the symbol DGXX and on the TSXV under the symbol DGX. Welcome, Edward. Thanks. Thank you so much for having us. We're really excited to be here today at your AI Technology Conference and have a chance to tell everyone about the Digi Power X story. This is a real exciting time in the history and the evolution of Digi Power X. We really, really appreciate everyone's attention and tuning in to watch this presentation. As Greg mentioned, you can see right here on your screens that, you know, we do trade on both the NASDAQ and up in Canada. We are a Canadian corporation. We're first listed up there. DGX in Canada is the symbol, DGXX on the NASDAQ. During my presentation today, I'm certainly going to be making a lot of forward-looking statements. I would draw your attention to this slide. What are we? At Digi Power X, just to give a little overview of the company, we're an energy infrastructure company and we believe we've got a really nice portfolio of assets that positions us perfectly both as a technology company and to take advantage of this new trend towards artificial intelligence, high-performance computing, tier three data centers. We effectively have several Bitcoin mining operations. In addition, we own our own power plant. That power plant is a combined cycle power plant. I'll talk more about that. Really valuable asset for the company. We specialize in acquiring, building, and managing infrastructure both for tier one and tier three high-performance computer data centers. Just taking a little quick look at this slide, this box on the top right, looking at kind of our market capitalization share structure. I noticed this morning at last I looked, the share price on Digi Power X was around $2.47 USD on the NASDAQ. You see our issued outstanding shares are just over 36.3 million. It gives us about a $90 million market cap in real time today. Importantly to point out, look at that cash and cash equivalents. Have about $13.5 million in cash and cash equivalents. Those cash equivalents are Bitcoin that we hold long on the balance sheet as we mine those. If you look at our press release we put out early July talking about our production in the end of, throughout the end of June, you could see we're at $13.5 million. No long-term debt in the company. That's really important. This company's been run quite conservatively over the years. Our CEO is a gentleman named Michel Amar. He is the founder of Digi Power X. Michel has run this company almost like his own family office over the years because he has a lot of his own personal money in the company. You can see that insider ownership, 20% of the company. I believe Michel has approximately $8 million of his own money. I don't think he's ever sold a share in the history of Digi Power X. He really believes in the company. He has built this company conservatively through raising equity at attractive levels, building out infrastructure, acquiring valuable assets that he can pick up at a discount. He, being a major stockholder, doesn't like dilution like any shareholder should. If you look out there in the industry today, a lot of these cryptocurrency, the Bitcoin miners, they go out and they take on tremendous amounts of debt. They all have ATMs in place where they're constantly diluting their shareholders because they're raising capital, raising capital to put back into new computers to mine Bitcoin. They produce a lot of Bitcoin that are big competitors, but they also have a lot of debt. This can work out really well. Bitcoin's been rallying. We're at about $112,000 we hit this morning. That's an all-time high. If anyone's watching out there on Bitcoin, I mean, all of us in the industry are bullish. This is a volatile asset. When Bitcoin turns over and comes down, which it has many times, those companies that have a lot of debt, they can really, really turn down precipitously as well. I think that Digi Power X is in a nice position for that. Just going on to the next slide, looking at the history of the company, I mentioned the company is a Canadian company, originally set up a couple of operations in the northern New York area around Niagara Falls, was looking there in the early days. The company was called Digi Host back then and was looking for some cheap electricity, hydropower, clean, green, cheap electricity coming off Niagara Falls, really built the first foundation of a couple of the Bitcoin farms set up. The company went public up in Canada on the TSX Venture around 2021. 2021 and 2022, the price of Bitcoin had a really, really big rally. All of these publicly traded Bitcoin mining stocks rallied very nicely as well. During that time period, Michel Amar was very, very fortuitous. The price of Digi Host stock up in Canada went from an initial listing of around CAD 4 Canadian a share up to CAD 15. He used that appreciation to raise a bunch of capital, about $80 million. He put that money to work into infrastructure. He acquired in September 2022 our power plant, which is located just outside of Buffalo, New York. He got a real good deal on that asset. If you remember 2022, that was like the depths of COVID. A lot of these assets had gotten good value and also built out a bunch of other operations that we have. Fast forward on this slide all the way to today to where we are. We are currently in the position with Digi Power X right now. We are transitioning a couple of our sites from Bitcoin miners, what we call tier one facilities, to high-performance computing, AI tier three data centers. It's a real exciting time in the industry. I'm going to talk a lot more about that. Our core business strategy today, you know, three different things. We drive consistent revenues through our utility assets. I mentioned we own our own power plant. I'll talk a lot more about it. We also have a bunch of Bitcoin mining operations. A lot of those are co-location. We partner up with major bigger firms and we provide the energy, we manage the whole operation. We're using all of our operational know-how. Again, our team knows how to run federally regulated power plants. We've got a real deep bench of operators and they've got a lot of know-how in operations, construction to help us convert a couple of our facilities to tier three data centers. That's kind of what we're all about. When you look at this AI, artificial intelligence, data centers, high-performance computing, I tell you, not a day goes by, probably not an hour goes by where I don't see a headline from The Wall Street Journal, Bloomberg, the Financial Times talking about new data center projects. This industry is booming, as everyone knows. The current administration, the Trump administration, President Trump and his sons are probably the most favorable administration the United States has ever had towards crypto, towards artificial intelligence. President Trump wants to really onshore a lot of manufacturing back into the United States, make America great again. Data centers are a big part of that. He was in the Middle East a couple of months ago talking to some of the Gulf sovereign wealth funds, striking big deals to bring capital back into the United States. They announced a massive project called Stargate where Oracle, SoftBank, OpenAI are some of the core investors in that. Massive data centers are springing up all around the United States. This has become a big land rush that's happening right now. This trend is forecasted to continue to grow, continue to boom. We're probably in the early days and there are a lot of smart analysts out there that say this boom in artificial intelligence could be bigger than the whole internet or mobile phones. We just have to watch and see. When we look at Bitcoin mining, Bitcoin, as I mentioned, $112,000 it touched today. That's an all-time high. This is probably the most friendly administration in Washington, D.C. that we've ever had towards digital assets. Bitcoin, all of the cryptocurrencies, very, very friendly. We're starting to see this real merger now between TradFi and DeFi. A lot of things coming together, the Circle IPO with their stablecoin, huge success. I think we're going to see a lot more of this going forward. Bitcoin, we're very bullish on the price. All of us in the industry, we think it's going to continue to do very, very well in the future. Mining co-location, that's a big part of our story. We really believe in this. It's CapEx-like for us. We can partner up with some of the bigger companies out there, bring their machines onto our facilities. I'll talk specifically about that in our power plant. This trend is really growing and continues to grow in the future. When you look at the company today, Digi Power X, we're pretty unknown. That's why we're here at this conference trying to get the word out. I think we only have one research analyst that follows the company today. There are a couple others that are sniffing around and you might see more coverage in the future. We're pretty, pretty unknown, a $90 million market cap company. A lot of our competitors, you look at this chart, they're multi-billion dollar market cap companies when you look at the maras and the riots of this industry. We're just trying to get the word out there. What we're trying to convey by this chart is we are, we believe, quite undervalued. The reason we're undervalued, there's a couple of different ways you can look at this industry. What's your enterprise value compared to your exahash? I just like a very easy metric myself. What's your enterprise value compared to how many MW of Bitcoin you're currently mining? If you look down on the bottom right there, currently today at Digi Power MW, we've got about 100 MW of energized facilities mining Bitcoin, self-mining and co-location. Our market cap today, as I mentioned, is about $90 million in real time. That's about $0.90 per MW. This little universe of comparisons up above us, they're trading at about $5.64 today. When you look at that, we're about six times, seven times undervalued just on an apples-to-apples basis. If we could just bubble up to that relative market cap, you could be looking at five times appreciation on our market capitalization. We think we're going to get there. Today, our power portfolio distribution, the majority of our power is used in co-location. Then we've got some self-mining and we also have utility power sales. We actually sell power from our power plant we own. Look at where we're going on this bigger pie chart on the right. We are going to start moving towards, obviously, co-location, a real big part of our story. We're getting into these tier three location revenues. These are the AI data centers. We are retrofitting one of our sites right now that we're really, really excited about. Let's talk kind of on this slide about the real operational footprint of Digi Power X. This is our core, our three different producing assets today and a development property all the way over on the right. Going to start in Alabama, the left-hand side of the slide. Our Columbia, Alabama operation, nice operation. We're currently at 22 MW energized at our Bitcoin mining operation there. It's both tier one, it's co-location and a couple of self-mining machines. Importantly, in Alabama, we are rated for 55 MW. We've got an additional 33 MW of capacity that we can still bring online. Fantastic location, great, great, great facility. In our center column, North Tonawanda, this is our power plant. Currently it is producing at 60 MW. We are co-location there. We also sell power back to the grid and get capacity payments. I'll talk more about that. Fantastic asset, really our core flagship asset right now in Digi Power X. Third column, Buffalo, New York. We have a former industrial site that is getting power from Niagara Falls. It's hydroelectric, it's clean, it's green. We're co-location and self-mining there. On the far right, we have a very valuable piece of property. This is a development project. It is in North Carolina. The reason it's valuable, there's no infrastructure on it yet on our ground. We are literally right next door to a Duke substation. Duke is the big utility. The substation has the transformers, high voltage to low voltage. The substation's right there. There is a lot of infrastructure. We have a load study approved for this project for 200 MW of power. That's a pretty nice power allocation. In addition, our neighbor right next door is a brand new state-of-the-art tier three AI data center, 200 MW data center owned by Google. That is a big facility. Google's demand for data centers and tier three is insatiable. They might want to come over one day, knock on our door and say, "Hey, little Digi Power X, would you be willing to sell us that piece of land?" If we were, Michel probably could get us a very, very nice value for that. We think it's very valuable. Let's talk a little more about the assets here that we have. Going to start on our flagship, North Tonawanda. This is our power plant. Our power plant is located just outside of Buffalo, New York. In fact, if I wanted to take you on a site visit, you could fly into Buffalo. We could pick you up there. In about 10 minutes later, if you look at this photograph of the facility, you'd be driving down that main road. You'll hook a left up our driveway. You can see those Christmas trees right on our front lawn there. As you drive up our driveway past those Christmas trees, you would drive past these containers. Those containers are our Bitcoin mining operations. We are currently co-locating and generating and producing Bitcoin on the facility. This power plant today, it's a natural gas steam-generated turbine power plant. It is rated today for 60 MW. We've been undergoing a load study here to increase the output to 120 MW. This is really important. Being located in New York, New York is what I call kind of a regulatory heavy state, takes time to get through these load studies. We've been working on this for about 18 months in conjunction with attorneys, our local consultants, electrical engineers, town hall meetings, everything like that. We think we're very, very close to getting this load study approved. As soon as this load study is approved, we will be able to double our Bitcoin mining capacity. It's going to be a major, major catalyst for the company. We believe in the second half of this year. Continue to watch the press releases on that. The power plant itself is a fantastic asset. I mentioned before that Michel Amar had bought this asset back in September of 2022, kind of at the depths of COVID, distressed asset sale, got a great deal on it. Importantly, this power plant was built in 1992, so it's been around more than 30 years. The operational team, we have over 30 employees at this power plant, extremely experienced team. We're very proud of them, from Plant Managers to Electrical Engineers, Systems Managers, et cetera. These guys have been, a lot of them, about half our team have been working here since the power plant was built. Over 30 years of experience. This is a federally regulated, FERC and PSC approved power plant. How it works with these, what we call behind-the-meter generation power plants, is this power plant can produce electricity up to 60 MW by burning natural gas. You see down below our cost of electricity is around $0.04 per kW. That's quite competitive and works out very, very well for Bitcoin because Bitcoin mining is hugely dependent upon a low price of electricity. Here we're competitive. The power plant makes other revenues as well. Number one, we get capacity payments. Just having the ability to produce electricity, the New York grid actually pays Digi Power X around $3 million to $5 million a year in payments just to be on standby. What happens is if there's different times in the year where the grid gets really stressed. Think about it, that can happen usually two times a year in Buffalo, New York. Winter, this happened in February, a big Arctic cold air, high-pressure system descends in from Canada. It goes to 20 degrees below zero in Buffalo, New York. What happens? Everyone gets cold. They all turn up the heat. Huge demand on the grid for electricity. At that point, the grid can call on Digi Power X to actually sell power back to the grid. What's nice is when that happens, usually spot electricity prices spike. We are generating power at $0.04, maybe spot prices spike to $0.11 or $0.12. You're making a pretty nice margin when you're selling this power back to the grid. By March, it might warm up, the grid gets back to normal, and we can then use the electricity for the Bitcoin mining operations. The Bitcoin mining, those containers on the front lawn, they're really nice too because you can literally turn them on and off like a light switch. Once they're energized and they have electricity, they're obviously, the computers are running, it's loud. They are producing Bitcoin on a daily basis. If you have to shut them down, they're just not producing any Bitcoin, but we're getting the revenue from the grid. The other time of year that this tends to happen can be August. August, you get one of those Mississippi or Floridian, you know, hot, humid systems, low pressure that comes up over Buffalo, becomes 100 degrees and humid. Everyone cranks the air conditioner. Those are the two times a year where the grid tends to be a little stressed. We can sell power back to the grid, and it's a real nice, fantastic asset. In addition, this is a wonderful location for a future tier three data center. The reason is tier three data centers need 24/7 power. You need 24/7 power, and you need 24/7 backup. Here at our power plant, we produce power, and we have a direct grid connection. We could also pull down power. If you see in this picture again, you're driving up our driveway, you see this land on the right that is just undeveloped forest. Digi Power X owns about 14 acres there. We've got enough land that we could potentially in the future build a tier three data center. This will be an absolute wonderful location for it. In addition, we have announced, if you look at our press releases, we're pretty excited about this. We've got a strategic collaboration with NANO Nuclear Energy. NANO Nuclear, they trade on the NASDAQ, their symbol is NNE. They've been a pretty hot stock, the whole sector, the small nuclear, small modular reactors, micro reactors. It's been a pretty hot sector. The whole world knows that we need more electricity, not just in the United States, but around the world. The grids are pretty stressed. People don't want to construct more coal-fired power plants because of the environmental hazards. Nuclear, it's clean, it's green. The technology is way beyond, you know, those old legacy massive reactors that we still have around. These small modular reactors are definitely going to be the future. Digi Power X has announced a partnership with NANO Nuclear. It's super exciting. We put out a press release on this December of last year. You can go back and read that. We, in conjunction with NANO Nuclear, are doing a feasibility level study on looking at the potential of deploying one of their small modular reactors, one of their SMRs, to power our data centers in the future. Small modular reactors, you know, they're still a couple of years away from commercialization. If the technology proves viable, it could be zero carbon emission, very cheap energy, 24/7 baseload energy, fantastic for the whole data center trend. We're going to publish these results when they're finished. We've also got that memorandum of understanding with them, as we could expand to more data centers, expand the technology. This collaboration is really, really exciting for both companies. We plan to build on this tremendously in the future. When you look at tier three data centers, just to give you a little idea, we hear a lot about them, but what if you wanted to go out today and just build your own tier three data center? You certainly can, and it takes a considerable amount of time, planning, energy, and effort. First thing you have to do when you're looking at a tier three data center is find the land. I don't think today you probably want to go to Northern Virginia because it's all crowded. There are tons of data centers there, a big data center cluster. You have to find the land, and it should be close to a metropolitan area. You don't want it on a flood plain. We see what just happened in Texas or New Mexico with these flash floods. You don't want to be in an earthquake zone. You don't want to be in Tornado Alley. It becomes important. Where are we going to position this valuable asset? You want to have security. You want to have access to the fiber network, a lot of things. You have to get the regulatory approval. That really depends state by state. A state like California, New York, Massachusetts can take longer. Some of the southern states or a state like maybe Alabama or Wyoming, they might be faster. You have to go through your load study. You have to look at building out the actual infrastructure. There is so much demand right now for tier three data centers that the supply chain for this industry is as dry as the Sahara Desert. I mean, if you went out right now and you called any of the big manufacturers and you said, "Okay, we need five transformers," pick up the phone, I challenge you, call Siemens, call ABB. Yeah, I'd like to order five transformers. They'll say, "Okay, fantastic." They'll definitely take your order, but they'll deliver them in 2027 because they're all sold out. We actually have all the equipment at Digi Power X. We have extra transformers. We've got extra cable. We've got extra generators. Why? All comes through our power plant, North Tonawanda. Plus, we have the operational expertise. Finally, for your tier three data center, you got to find the customer. We've been hearing about the Mag 7. They're kind of hoovering up any availability in the tier three data center space recently. Meta's doing this deal. Amazon's doing that deal. Google is doing this one. And Oracle, whoever it is, you know, the big tech companies seem to be at the leading edge, but a lot of other companies want to get in on the game as well because of these productivity efficiencies that AI can bring. The customer becomes really important. Small companies like Digi Power X, they have, there's been a lot of other cryptocurrency mining companies that have been trying to convert their operations into tier three data centers. They tend to get a massive valuation re-rate once they announce a credible customer. I'll talk more about that here for a second. On our tier three expansion, we are going to start with our facility in Alabama. Alabama's a fantastic state. They're open for business. Very easy. It's kind of regulatory light. They're like, "Fantastic. Let's go." Our facility in Alabama right now, you can see a picture of it on this slide, 22 MW Bitcoin mining operation. We're approved for 55 MW of power. We are going to build a tier three data center here. We've already announced a new subsidiary called US Data Centers. We're doing all this in a brand new subsidiary. Hopefully, in the future, we can spin that out, take it public on its own for the benefit of all the Digi Power X shareholders. This is really exciting. We are going to start incrementally. We'll start with five MW that we anticipate having done pretty quickly. We've already been through a full feasibility level engineering study. Shows us all the costs, all the time, you know, to build this facility. When you're building a tier three data center, the build itself, the building, it's pretty easy. Concrete slab, steel girder construction, sheet metal walls. It looks like a Costco distribution center. The real value comes inside the facility. Inside that facility, that's where you get the chips, the racks, the processors, these new NVIDIA state-of-the-art processors. We're so excited because US Data Centers, our subsidiary of Digi Power X, have announced a strategic collaboration with Supermicro. Supermicro is developing these new modular tier three data center facilities for us. They're called ARMS, which is an AI-ready modular solution. This is going to allow us to scale up very, very quickly because we can start with as little as half a MW, then a MW. It's almost like the Legos, like a plug-and-play solution or like a modular home. We can build up depending on demand. For a little small company like Digi Power X, this becomes important because we don't need to come in with billions of dollars of capital right away. We're not going to go out and dilute our shareholders way down. We're going to start small. We're going to build up with demand. We are in the process right now of designing and building out our Alabama tier three data center. We also believe that we are going to be able to announce a tenant very, very shortly, probably in the second half of this year. That's, again, another major catalyst for the company. Keep watching that. Milestones that we're looking at, again, the updated load study from our North Tonawanda power plant, increasing that from 60 MW -120 MW. That'll be significant. We'll produce more revenues, produce more Bitcoin. These advances on our tier three data center in Alabama, certainly leading to a tenant, those become the big ones. There is a massive valuation disconnect in the market between Bitcoin miners that trade around 5.6x enterprise value to EBITDA to high-performance computing companies that trade almost 22 x. If we're successful in doing this, we think we can have a massive valuation re-rate in the company. When you look at where we are today, we got about 100 MW. You can see how they play out amongst our existing three facilities. Where we're going in the next 24 months, we think we'll be at 220 MW, you know, in Alabama, going up to 55. That load study is approved. North Tonawanda power plant going from 60, doubling to 120, bringing on 20 MW in North Carolina. There's a lot on our plate, very, very ambitious plan. We think it'll generate a tremendous amount of value. If we can do it, and if we're successful in pivoting Alabama to a tier three data center, announcing the tenant, here's how the valuations might potentially look. We could have potentially 198 MW of Bitcoin mining, tier one, 22 MW of tier three high-performance computing. We could potentially be looking at a $374 or $375 million market cap. That's significantly higher than our $90 million market cap today. That is the opportunity for us. You can see how our revenues break down. Really importantly, look here, we get kind of revenues through crypto mining, self-mining, energy sales, and co-location. That was last year. No debt, $13.5 million cash in crypto equivalent position. Company is in really good financial shape. We got a really good team. I talked about Michel, his son Alec is our President. Really good board, experienced operational team. It's been a super pleasure to be here at the AI Technology Conference. Hope this gave you a little bit of an overview towards Digi Power X. If you do have questions, please feel free to reach out to us. We're more than happy to follow up with anyone and love to talk to investors and potential investors anytime. Really appreciate the hosts and thanks so much for having us here today.