By Marcus Bennett

Digi Power X has secured a $200 million debt financing commitment for its 40MW data center project in Columbiana, Alabama. Goldman Sachs syndicated the facility, and an unnamed "major lending institution" provides the funds.

The financing backs a two-phase build. Phase one delivers 15MW of IT load by the end of 2026. Phase two adds 25MW incrementally, reaching the full 40MW capacity by the end of Q1 2027. The company says the project remains on track.

Cerebras, the wafer-scale chip company and cloud provider, signed on for the site's full capacity in May.

What does the money actually fund?

The $200 million supports construction at Columbiana, where Digi Power X has already committed serious capital. The company holds approximately $135 million in cash. It has invested approximately $153 million in capital expenditures in 2026, according to its own figures.

The numbers show a company mid-pivot, spending ahead of revenue on AI infrastructure while keeping a cash buffer large enough to finish the build.

From crypto mining to AI hosting

Digi Power X was formerly known as Digihost. The company once focused on mining cryptocurrencies and placing mining hardware at power plants for itself and other operators.

The pivot mirrors a wider industry shift. Crypto firms are moving into AI hardware hosting amid a capacity crunch. In 2025, Digi Power X launched US Data Centers, a unit focused on AI and HPC colocation.

That unit operates modular Arms 200 compute units. One deployment is already running.

The company owns and operates three data center sites:

• Columbiana, Alabama
• Buffalo, New York
• North Tonawanda, New York

It has also acquired an office and laboratory facility in Silicon Valley to develop the technology and operational intelligence behind its AI token factory strategy.

What does this change for the New York sites?

Digi Power X wants to convert its two New York sites into AI data centers. Those plans have hit a legal obstacle. A local data center moratorium, signed into law in June 2026, has impacted the conversion timeline.

The Alabama financing therefore concentrates near-term growth in Columbiana. That site has a committed tenant, a fixed delivery schedule and now dedicated debt capital. New York remains a question mark until the moratorium situation changes.

The mechanism behind the deal

Debt financing of this size, syndicated through Goldman Sachs, signals lender confidence in the underlying contract rather than in the operator's balance sheet alone: Cerebras leased the full 40MW in May, which gives the lender a predictable revenue stream to underwrite against the loan. For a company that renamed itself and switched business models within two years, a full-capacity anchor tenant is the asset that makes the $200 million possible.