Welcome back, everyone. Next, we have an update from Digi Power X. It trades on the Nasdaq under the symbol DGXX. It's an innovative energy infrastructure company that develops tier three certified modular AI data centers and drives the expansion of sustainable energy assets. Happy to welcome CFO Paul Ciullo. Welcome back, Paul. Thank you, Anna. All right. So your 2025 annual report was just released yesterday. Can you discuss the financial results? Yes. Thank you, Anna. Our 2025 results underscore a transformational year in which the company was able to really strengthen its balance sheet. Our cash position went from $1.7 million in 2024 to $78.5 million in 2025, an increase of over 4,000%. Our working capital position is $86.3 million at year-end, compared to a -$3.1 million in the prior year. This balance sheet strength is not incidental. It is the result of the company's strategy purposely planned by the company to fund its next phase of growth without reliance on dilutive equity offerings or high-cost debt. We have the balance sheet to fund our initial growth and infrastructure to scale it. Our shareholders' equity expanded 453% to $123 million from $22.3 million at the end of fiscal 2024. We have no long-term debts outside of our normal course payables, and our colocation revenue grew 11% to $17.5 million, and energy revenue rose 186% to $13.2 million. These are not legacy segments. They are the foundation upon which the company's AI data center build-out is anchored. And let's talk about that. Discuss the decision the company made in 2025 to strategically pivot and transition from crypto mining to AI data centers. Yes. Digi Power X transitioned from Bitcoin mining to AI infrastructure due to a strategic shift aimed at leveraging its existing power infrastructure to generate higher revenues. This pivot allows Digi Power X to leverage its infrastructure to get a much higher multiple through AI data centers. The company also owns its own power generation, which supports both energy sales and AI infrastructure growth. And can you discuss how the company positioned to capture AI infrastructure demand at scale as compared to conventional colocation and cloud competitors? Yes. There's a few fold answer. Number one, today we have a strong balance sheet and working capital position. Two, the company received regulatory approval for 60 MW of hydroelectric power capacity in upstate New York, available for immediate deployment. Clean, low cost, and highly reliable hydropower is among the most sought-after power sources for AI workloads as hyperscalers and enterprise AI customers increasingly commit to sustainable mandates. Power is the gating constraint for AI data center expansion globally. Digi Power X's secured hydro allocations represent a scarce, reliable resource that provides both a cost advantage and a commercial differentiation when competing for anchor tenants who prioritize green energy service level agreements. And three, Digi Power X's GPU fleet expansion is designed to be fully financed through customer deposits and equipment lease financing, meaning the company expects to generate positive cash flows from the first day of GPU deployment. And how is the company planning to fund its expansion in 2026 and beyond? Our current balance sheet enables the company to commit to longer-term customer contracts from a position of financial credibility, self-fund the initial capital expenditure program of $40 million in fiscal 2026 and beyond, and move quickly with on-site acquisition and permitting without the friction of third-party lender approval. The company's zero debt status is a meaningful competitive moat at a time when interest costs and refinancing risk are top of mind for infrastructure investors. And how much available capacity does the company have in terms of power in W at its various sites? Yep. We have sites in Alabama with 70 MW approved, with 50+ acres, upstate New York, 60 MW of hydro approved, and North Carolina with 40 acres. Digi Power X has assembled, I guess with those three sites, a geographically diversified AI infrastructure portfolio that spans the power-rich southeastern and northeastern United States. Each site has secured power approval, the single most critical and difficult to obtain prerequisite for AI data center deployment. With total power capacity available across its sites of 400 MW, this represents a substantial asset base that management is systematically activating. Perfect. And can you discuss some of the company's key accomplishments from the past year, specifically surrounding site expansion, the establishment of US Data Centers, and investments in AI infrastructure? Yes. So we received regulatory approval for 60 MW of hydroelectric power capacity in upstate New York, available for immediate deployment, a scarce and coveted resource in the AI infrastructure market. North Carolina expansion, we acquired an additional 20 acres in North Carolina, bringing our total acreage site to 40 acres with zoning approval for advanced AI data center deployment. The Alabama site, 50+ acres of land, 70 MW approved, and we are contracted to acquire 33 additional acres adjacent to our current property, bringing a total site acreage to over 50 acres with full 70 MW power capacity approved. US Data Centers Inc, we established this with Digi Power X holding a majority equity stake as of December 31st, 2025, and meaningful upside as USDC raises independent growth capital without diluting Digi shareholders. And with $11 million in infrastructure invested in AI infrastructure in 2025, including $6.6 million in tier three asset projects in Columbiana, Alabama, the operational foundation for our ARMS 200 platform and NeoCloudz's GPU-as-a-Service revenues. And let's look ahead. When does the company expect to begin generating its first AI revenues? Yeah, we're really excited about this. Digi Power X expects to generate its first AI revenues as early as the end of April 2026, following completion of GPU testing currently underway at the Columbiana, Alabama facility. In parallel, the company is in final discussions on a co-location agreement that, upon execution, would represent a significant milestone in the company's transition to recurring infrastructure scale AI revenues. The company has also executed a non-binding letter of intent, and the parties are currently engaged in the negotiation and legal review of proposed definitive documentation. The execution of a definitive agreement and any transactions remain subject to, among other things, completion of due diligence. So we're kind of going through that period right now. And how many megawatts of total live AI infrastructure across the company's multi-site portfolio does it expect to activate in 2026 and 2027? That's the company's strategic goal for 2026 and 2027 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. Perfect. Paul, do you have any closing remarks for our viewers today? No. Thank you everybody for your time, and I know we're excited for the future of Digi Power X, so, stay tuned. Perfect. Thank you so much, and thank you all for watching and listening. We will be right back with our next presenter. Thank you, Anna.
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