Digi Power X secures $200 million debt commitment to complete 40 MW Alabama AI data center

Digi Power X (NASDAQ: DGXX) announced on 13 October 2026 that it has received a commitment letter for $200 million in project-level debt financing to complete its 40 MW AI data center campus in Columbiana, Alabama^[1].

The financing structure

The financing is syndicated by Goldman Sachs and is expected to close within 90 days, subject to definitive documentation and the lender's completion of due diligence. The lender has not been named.

The debt will be structured at a project special purpose vehicle level, with an unsecured company guarantee through project completion. The announcement does not disclose an interest rate, repayment term, or drawdown schedule, and gives no remaining construction-cost estimate, so it does not establish whether the commitment covers the entire funding requirement.

Digi Power X says the intended use of proceeds would help preserve corporate liquidity and mitigate shareholder dilution. As of 13 October, the company held approximately $135 million in cash and had invested approximately $153 million in capital expenditures year to date in 2026.

The Columbiana campus

The Columbiana campus is being built in two phases: Phase 1 delivering 15 MW of IT load, targeted ready-for-service by December 2026, and Phase 2 adding a further 25 MW by the end of Q1 2027.^[1]

Power infrastructure is already in place. The dedicated on-site substation serving Phase 1 has been completed, grid interconnection has been finalized, and a power delivery agreement with the local utility is in place. That removes two of the most common development-risk factors for large-load projects at this stage.

Formerly known as Digihost, Digi Power X was previously focused on mining cryptocurrencies and placing mining hardware at power plants. Like many other crypto firms, the company is pivoting to host AI hardware amid a capacity crunch, and in 2025 launched US Data Centers to focus on AI and HPC colocation. The company rebranded from Digihost to Digi Power X in March 2025.

The Cerebras anchor

Cerebras Systems signed a 10-year colocation agreement with Digi Power X on 4 May 2026, taking the full 40 MW of capacity at the Columbiana campus. The contract has an initial term of 10 years and is valued at $1.1 billion, with the potential to be extended to a total value of $2.5 billion. Pursuant to the agreement, Cerebras holds an exclusive license to access the data center for the duration of the contract.

The anchor lease is what makes the project-level debt viable: a single creditworthy tenant committed to the full capacity before construction financing was in place.

What to watch

The financing commitment is conditional - lender diligence and definitive documentation still need to close within the 90-day window. Construction at the 40 MW Alabama campus remains on target, with Phase 1 expected to be completed in December 2026 and Phase 2 in March 2027. Whether the debt closes on schedule, and whether the undisclosed lender terms leave a residual funding gap, will determine whether those delivery dates hold.