DarkHorse Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Contracted power doubled to approximately 100 MW after signing a 50 MW Kentucky contract
- ➤Q3 revenue $3.0 million, versus $2.6 million in Q3 2025
- ➤Q3 net loss narrowed to $5.8 million from $13.8 million in Q2
- ➤Cash and equivalents rose to $8.8 million after financing and asset-sale proceeds
- ➤$5.0 million PIPE closed at $3.00 per unit, a 29% premium
Expert Statements
Joel Block, Chief Executive Officer of DarkHorse Technologies Inc.
“We had a very productive quarter”
Joel Block, Chief Executive Officer of DarkHorse Technologies Inc.
“We doubled our contracted power capacity to approximately 100 MW, completed Bitdeer installations across three sites and advanced engineering for our planned superintelligence factories, including an initial basis-of-design package for a Kentucky project and boundary surveys at two of our Kentucky development sites. Additionally, we sold non-core assets and raised capital as we continued to shift the business toward power and data center infrastructure.”
Joel Block, Chief Executive Officer of DarkHorse Technologies Inc.
“At our sites in Kentucky and Tennessee, we have long-standing working relationships with the local communities, utilities and officials. Power, land and local support are what determine whether a project actually gets built, and we are building trust site by site rather than assuming it will just be there.”
Joel Block, Chief Executive Officer of DarkHorse Technologies Inc.
“We believe the race in AI infrastructure is to bring usable compute capacity online in 2027”
Joel Block, Chief Executive Officer of DarkHorse Technologies Inc.
“Our focus is inference, where trained AI models serve everyday applications. We see an opportunity to combine modular builds with existing industrial sites and established power infrastructure to bring capacity into service faster. Our goal is to turn those sites into operating superintelligence factories that serve customers and generate revenue.”
Contracted power doubled to approximately 100 MW Bitdeer installations completed across three sites
Wilmington, Delaware--(Newsfile Corp. - November 6, 2026) - DarkHorse Technologies Inc. (Nasdaq: DRK) (the "Company" or "DarkHorse") today reported financial results for the third quarter ended September 30, 2026. During the quarter, the Company doubled its contracted power capacity to approximately 100 MW. Of the 100 MW, approximately 50 MW is currently operating and the remaining 50 MW relates to a facility under development. The Company also completed Bitdeer mining machine installations across three sites and advanced engineering and site work for planned superintelligence factories focused on AI inference, including an initial basis-of-design package for a Kentucky project and boundary surveys at two Kentucky development sites. Across its sites in Kentucky and Tennessee, the Company continued to work with its utilities and local officials on the utility coordination, civil infrastructure and permitting required before construction can begin.
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