=Increased Contracted Power Capacity at Existing CLT-01 Facility to 65 MW to Support AI and HPC Growth
Strengthened Balance Sheet with $52.8 Million of Cash to Support Continued Growth
Ended Quarter with $82.7 Million of Stockholders' Equity
NEW YORK, Aug. 14, 2026 (GLOBE NEWSWIRE) -- AIB Data Centers Inc. (NYSE American: AIB) ("AIB" or the "Company"), formerly BlockchAIn Digital Infrastructure, Inc., a developer and operator of digital infrastructure focused on artificial intelligence ("AI") and high-performance computing ("HPC") workloads, today reported financial results for the second quarter ended June 30, 2026.
"This quarter we secured the two foundations that matter most at our stage: power and capital," said Jerry Tang, CEO of AIB Data Centers. "We enhanced our power position with a 65 megawatts 15-year electric service agreement, raised $63.3 million to strengthen our balance sheet, and completed our rebrand to AIB Data Centers. Now we're focused on turning it into signed, long-term AI and HPC contracts."
Second Quarter 2026 and Recent Operational Highlights
-- Contracted power capacity at the CLT-01 data center with 65 MW 15-year
electric service agreement. The 65MW power supports site improvements to
the existing data center and expands AIB's ability to serve growing AI
and HPC infrastructure demand at the site.
-- Strengthened financial position with the completion of an underwritten
public offering that generated approximately $59 million in net proceeds,
including the full exercise of the underwriter's overallotment, ending
the quarter with $52.8 million in cash, $82.7 million in stockholders'
equity, and no traditional debt.
-- Completed the Company's strategic rebrand to AIB Data Centers Inc.,
reflecting its continued transition toward developing and operating
infrastructure designed for AI and high-performance computing workloads.
The Company's common stock continues to trade on the NYSE American under
the ticker symbol "AIB."
-- Advanced development opportunities for future AI infrastructure capacity,
including a non-binding letter of intent and a $1.2 million refundable
land deposit, made to a related party, in connection with the evaluation
of an approximately 75 MW AI-focused data center campus, or MSP-01. No
definitive acquisition, lease, or development agreements have been
executed as of quarter end.
-- Identified approximately 505 MW of prospective AI and HPC capacity across
five additional sites under evaluation, none of which is subject to a
definitive lease, purchase or development agreement. Together with the 65
MW of contracted power capacity at the Company's existing CLT-01 data
center, this represents approximately 570 MW of identified capacity
potential.
-- Expanded the Company's data center execution and commercial organization
with the appointments of Christopher Iannacone as Director of
Construction Execution, Gary Heitz as Vice President of Sales, Nicholas
Ukachi as Project Manager, Joshua Fernandez as Senior Procurement Manager,
Alex Ocello as Strategic Partner, Christopher Wong as VP Finance &
Corporate Controller, and Ashwin Sewdass as VP Finance, Operations &
Projects. The new additions to the team bring decades of combined
experience across mission-critical infrastructure, hyperscale data center,
and commercial development. Wong and Sewdass also bring significant
financial and operational experience to the Company.
-- Continued diversifying the Company's customer base as it transitions
toward long-term AI and HPC infrastructure contracts, reducing historical
customer concentration and positioning AIB for a broader commercial
platform.
-- Temporarily de-energized the Company's legacy operations on June 5, 2026.
The Company is working to redeploy the site's existing power and
infrastructure to support higher-density AI and HPC workloads.
-- Enhanced visibility within the investment community, including its
addition to the Russell Microcap$(R)$ Index, presentations at leading
investor conferences, the NYSE Opening Bell ceremony commemorating the
Company's rebrand and listing, and initiation of equity research coverage
by Lucid Capital Markets and Maxim Group.
Second Quarter 2026 Financial Results
-- Strengthened its financial position with $52.8 million of cash and $82.7
million of total stockholders' equity as of June 30, 2026, compared to
$15,265 of cash and $7.9 million of stockholders' equity as of December
31, 2025, following the successful completion of the Company's June 2026
underwritten public offering.
-- Revenue was $2.9 million, compared to $4.7 million in the prior-year
period, a decrease of $1.8 million, or 39%, reflecting the Company's
strategic transition away from a single-anchor-tenant hosting model
toward a broader portfolio of AI and HPC infrastructure customers and the
June 5, 2026 temporary de-energization of the site.
-- Cost of revenues was $3.4 million, compared to $4.2 million in the
prior-year period, a decrease of $0.8 million, or 18%.
-- Gross loss was $0.5 million, or a gross margin of (18)%, compared to
gross profit of $0.5 million, or a gross margin of 12%, in the prior-year
period, primarily reflecting higher per-kWh energy costs absorbed by the
Company and lower billable energy volume following temporary
de-energization of the site.
-- Total costs and operating expenses were $6.5 million, compared to $5.3
million in the prior-year period, an increase of $1.2 million, or 23%,
primarily reflecting increased investments in public company
infrastructure, advisory services, consulting arrangements, and
transaction-related expenses.
-- Operating loss was $3.6 million, compared to an operating loss of $0.5
million in the prior-year period.
-- Net loss was $3.5 million, or $(0.07) per basic and diluted share,
compared to a net loss of $0.5 million, or $(0.01) per basic and diluted
share, in the prior-year period.
-- Adjusted EBITDA loss was $3.1 million, compared to Adjusted EBITDA loss
of $0.1 million in the prior-year period.
-- Ended the quarter with no traditional indebtedness, providing additional
financial flexibility to execute the Company's AI and HPC infrastructure
growth strategy.
First Six Months of 2026 Financial Results
-- Revenue was $7.8 million, compared to $9.2 million in the prior-year
period, a decrease of $1.4 million, or 15%, primarily attributable to the
Company's ongoing transition toward long-term AI and HPC infrastructure
opportunities, including the June 5, 2026 temporary de-energization of
the site.
-- Gross profit was less than $0.1 million, or a gross margin of 1%,
compared to gross profit of $1.8 million, or a gross margin of 19%, in
the prior-year period.
-- Net loss of $3.8 million, or $(0.09) per basic and diluted share,
compared to a net loss of $0.1 million, or $(0.00) per basic and diluted
share, in the prior-year period.
-- Adjusted EBITDA loss was $3.2 million, compared to Adjusted EBITDA of
$0.7 million in the prior-year period.
-- Net cash used in operating activities was $4.7 million, compared to $1.0
million in the prior-year period, primarily reflecting changes in
accounts payable and contract liabilities.
-- Net cash provided by financing activities was $58.4 million, primarily
reflecting approximately $59.0 million of net proceeds from the June 2026
underwritten public offering.
"Our financial position has been fundamentally transformed," said Jolienne Halisky, Chief Financial Officer of AIB Data Centers. "We ended the quarter with $52.8 million of cash, $82.7 million of stockholders' equity, and no traditional debt, providing the capital and financial flexibility to execute our growth strategy. We are deploying these resources toward securing contracted power, procuring long lead-time equipment, and improving our existing infrastructure to support AI and HPC customers."
Leadership Update
Eyal Rozen has notified the Company of his decision to resign as Chief Operating Officer, effective August 14, 2026. Mr. Rozen is assisting with an orderly transition of his responsibilities. The Company has commenced a search for a Chief Operating Officer with large-scale data center and operations experience.
Valuation Relative to AI and HPC Infrastructure Peers
As of July 28, 2026, AIB's market capitalization equated to approximately $2 million per energized, operating megawatt, compared with a median of approximately $26 million per megawatt across a peer group of seven publicly traded digital infrastructure and AI and HPC operators. The Company believes this gap reflects the early stage of its transition and does not yet capture the approximately 570 MW of identified capacity potential described above.
Operating megawatts reflect energized capacity as reported in each company's most recent Form 10-Q, Form 10-K or earnings release; contracted and planned capacity is excluded. TeraWulf megawatts reflect energized HPC critical IT capacity only. Market capitalizations are based on intraday prices as of July 28, 2026 (Yahoo Finance). Peer group: Applied Digital (APLD), Cipher Mining $(CIFR)$, CoreWeave (CRWV), Core Scientific (CORZ), Hut 8 (HUT), IREN $(IREN)$ and TeraWulf $(WULF)$.
Note About Non-GAAP Financial Measures
Adjusted EBITDA is a key factor in how we assess the operating performance of our data center and develop growth strategies and expansion decisions. We define Adjusted EBITDA as net income or loss excluding income tax expense, interest income, interest expense, other income and expense items, gain or loss on asset sales, depreciation, amortization, transaction costs, and non-recurring legal and professional fees, as presented below:
Reconciliation of GAAP Net Loss to Adjusted EBITDA
Three Months Ended June 30, Six Months Ended June 30,
---------------------------- --------------------------
2026 2025 2026 2025
--------------- ----------- ------------ ------------
NET
(LOSS)/INCOME (3,481,233) (541,812) (3,754,431) (53,033)
Add/(Deduct):
Other (income)
expense (98,770) -- (102,898) 5,360
Depreciation
and
amortization 250,910 193,809 501,011 356,981
Transaction
costs 75,000 255,913 1,279,573 471,924
Reimbursement
of
transaction
costs -- -- (1,330,000) --
Non-recurring
legal and
professional
fees 180,766 -- 180,766 --
Gain on asset
sales -- -- -- (67,714)
----------- ---------- ----------- ---------
ADJUSTED EBITDA (3,073,327) (92,090) (3,225,979) 713,518
----------- ---------- ----------- ---------
Non-GAAP financial measures are not a substitute for financial information prepared in accordance with GAAP. Non-GAAP financial measures should not be considered in isolation, but should be considered together with the most directly comparable GAAP financial measures and the reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures. We have presented non-GAAP financial measures to provide investors with an additional tool to evaluate our results of operations in a manner that focuses on what management believes to be our core, ongoing business operations.
Accordingly, Adjusted EBITDA is not meant to be considered in isolation of, and should be read in conjunction with, the information contained in our condensed consolidated financial statements, which have been prepared in accordance with GAAP.
Our primary non-GAAP financial measure is Adjusted EBITDA, which excludes depreciation and amortization expense as these do not reflect our current or future cash spending levels to support our business. In addition, depreciation is also based on the estimated useful lives of our data center assets. These estimates could vary from actual performance of the asset, are based on historical costs incurred to build out our data center and are not indicative of current or expected future capital expenditures. Therefore, we exclude depreciation and amortization in computing Adjusted EBITDA. We also exclude gain or loss on asset sales as it represents profit or loss that is not meaningful in evaluating the current or future operating performance. Additionally, we exclude transaction costs and related reimbursement to enhance the comparability of our financial results to our historical operations. The transaction costs and reimbursement relate to expenses we incurred in connection with the Business Combination transaction with Signing Day Sports, including advisory, legal, accounting, valuation, and other professional or consulting fees. We also exclude non-recurring legal and professional fees, which represent legal and professional fees incurred in connection with corporate transaction and financing activities, including a terminated financing transaction and advisory arrangements related to the Business Combination, and which management does not consider indicative of ongoing operating performance. Such charges generally are not relevant to assessing our long-term performance. In addition, the frequency and amount of such charges vary significantly based on the size and timing of the transactions. Management believes items such as impairment charges, gain or loss on asset sales and transaction costs are non-core transactions; however, these types of costs may occur in future periods. Future transaction costs will depend on the Company executing additional transactions, which cannot be anticipated or estimated.
About AIB Data Centers
AIB Data Centers Inc. is a developer and operator of digital infrastructure focused on AI hosting and high-performance computing workloads. The Company's platform combines access to reliable, scalable power resources with modular infrastructure deployment designed to accelerate the development of next-generation compute capacity.
For more information, visit https://www.aib.us/.
Forward-Looking Statements
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "may," "could," "will," "should," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "project" or "continue" or the negative of these terms or other comparable terminology and include, but are not limited to, statements regarding the anticipated benefits of the business combination with Signing Day Sports, Inc., the anticipated use of proceeds from the Company's June 2026 public offering, the expected timing and availability of electric service under the Company's electric service agreement, and the potential development of the Company's planned Minnesota data center campus. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, including without limitation, the ability to integrate the respective businesses post-merger, obtain sufficient funding to maintain operations and develop additional services and offerings, market acceptance of the Company's current products and services and planned offerings, competition from existing or new offerings that may emerge, impacts from strategic changes to the Company's business on net sales, revenues, income from continuing operations, or other results of operations, the Company's ability to attract new users and customers, the Company's ability to retain or obtain intellectual property rights, the Company's ability to adequately support future growth, the Company's ability to attract and retain key personnel to manage its business effectively, the risk that non-binding letters of intent may not result in definitive documentation, the risk that required permits and approvals are not obtained on the anticipated timeline, and the identified material weaknesses in the Company's internal control over financial reporting. These risks, uncertainties and other factors are described more fully in the section titled "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 31, 2026. These risks, uncertainties and other factors are, in some cases, beyond the Company's control and could materially affect results. If one or more of these risks, uncertainties or other factors become applicable, or if these underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
Phone: (949) 491-8235
AIB@mzgroup.us
www.mzgroup.us
AIB Data Centers Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended June
30, Six Months Ended June 30,
-------------------------- ----------------------------
2026 2025 2026 2025
Revenues (Note 5) $ 2,915,460 $ 4,744,627 $ 7,828,661 $ 9,244,269
Costs and
operating
expenses:
Cost of
revenues 3,432,555 4,196,007 7,775,997 7,469,329
Depreciation
and
amortization
(Note 3) 250,910 193,809 501,011 356,981
Selling,
general and
administrative
expenses 2,710,592 896,623 3,307,576 1,533,346
Advertising
expense 101,406 -- 101,406 --
---------- ---------- ---------- ----------
Total costs
and
operating
expenses 6,495,463 5,286,439 11,685,990 9,359,656
---------- ---------- ---------- ----------
Loss from
operations (3,580,003) (541,812) (3,857,329) (115,387)
Other income
(expense)
Gain on
disposal of
assets held
for sale (Note
3) -- -- -- 67,714
Other income
(expense) 98,770 -- 102,898 (5,360)
---------- ---------- ---------- ----------
Total other
income 98,770 -- 102,898 62,354
---------- ---------- ---------- ----------
Net loss
attributable to
common
stockholders $(3,481,233) $ (541,812) $(3,754,431) $ (53,033)
---------- ---------- ---------- ----------
Basic and diluted
loss per share $ (0.07) $ (0.01) $ (0.09) $ (0.00)
Basic and diluted
weighted average
number of shares
outstanding 46,840,272 37,646,133 42,268,601 37,646,133
AIB Data Centers Inc.
Condensed Consolidated Balance Sheets
June 30, December 31,
2026 2025
(Unaudited) (Audited)
------------ --------------
Assets
Current assets:
Cash and cash equivalents $52,784,510 $ 15,265
Accounts receivable 740,224 7,720
Due from related party, net (Note 11) 1,698,329 2,144,506
Loan receivable - related party (Note 11) 1,083,460 1,083,460
Prepaid expenses and other current assets
(Note 11) 1,401,828 218,698
---------- ----------
Total current assets 57,708,351 3,469,649
---------- ----------
Property and equipment, net (Note 3) 8,771,622 8,865,019
Goodwill (Note 4) 23,874,326 4,851,136
Operating lease right-of-use asset (Note
6) 27,268 81,712
Other assets 26,200 --
---------- ----------
Total assets $90,407,767 $ 17,267,516
---------- ----------
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable and accrued expenses $ 2,635,633 $ 3,304,012
Contract liabilities (Note 5) -- 2,330,584
Consideration payable, current portion
(Note 3) 1,166,001 1,166,001
Operating lease liability, current portion
(Note 6) 27,269 81,712
Other current liabilities 3,814,852 1,845,760
---------- ----------
Total current liabilities 7,643,755 8,728,069
---------- ----------
Consideration payable, net of current
portion (Note 3) 97,167 680,166
---------- ----------
Total liabilities 7,740,922 9,408,235
---------- ----------
Commitments and contingencies (see Note 10)
Stockholders' equity:
Preferred stock, $0.0001 par value;
100,000,000 shares authorized; no shares
issued and outstanding as of June 30, 2026
and December 31, 2025 (Note 9) -- --
Common stock, $0.0001 par value;
1,000,000,000 shares authorized;
75,979,466 shares issued and outstanding
as of June 30, 2026; no shares issued and
outstanding as of December 31, 2025 (Note
9) 7,599 --
Additional paid in capital 86,413,677 --
(Accumulated deficit) retained earnings (3,754,431) 7,859,281
---------- ----------
Total stockholders' equity 82,666,845 7,859,281
---------- ----------
Total liabilities and stockholders' equity $90,407,767 $ 17,267,516
---------- ----------
AIB Data Centers Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Six Months Ended June 30,
-------------------------------
2026 2025
Cash flows from operating activities:
Net loss $ (3,754,431) $ (53,033)
Adjustments to reconcile net loss to net
cash and cash equivalents provided by
operating activities:
Depreciation and amortization 501,011 356,981
Gain on disposal of assets held for
sale (Note 3) -- (67,714)
Non-cash advisory shares (Note 4) 650,642 --
Changes in operating assets and
liabilities:
Accounts receivable (276,781) (525,627)
Prepaid expenses and other current
assets 42,738 36,920
Operating lease right of use asset 54,444 --
Accounts payable and accrued
expenses (1,472,069) 654,086
Contract liabilities (2,332,010) (1,638,517)
Lease liability (54,443) --
Other current liabilities 1,969,092 247,623
---------- ----------
Net cash used in operating activities (4,671,807) (989,281)
---------- ----------
Cash flows from investing activities:
Cash acquired in reverse merger (Note
4) 253,214 --
Payment of land deposit (Note 11) (1,200,000) --
Proceeds from sale of assets held for
sale (Note 3) -- 132,000
Proceeds from loan receivable - related
party -- 996,146
---------- ----------
Net cash (used in) / provided by
investing activities (946,786) 1,128,146
---------- ----------
Cash flows from financing activities:
Contributions -- 1,174,085
Distributions -- (1,442,600)
Proceeds from public offering, net
(Note 9) 58,970,837 --
Repayments of consideration payable (582,999) --
---------- ----------
Net cash provided by / (used in)
financing activities 58,387,838 (268,515)
---------- ----------
Net increase (decrease) in cash and cash
equivalents 52,769,245 (129,650)
Cash and cash equivalents, beginning of
period 15,265 131,107
---------- ----------
Cash and cash equivalents, end of period $ 52,784,510 $ 1,457
---------- ----------
Supplemental disclosure of non-cash
investing and financing activities:
Non-cash additions to construction in
progress included in accounts payable and
accrued expenses $ 400,000 --
Acquisition of property and equipment
through deferred payment arrangement -- $ 2,332,000
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