BlockchAIn Digital Infrastructure reports operating data center

NEW YORK - BlockchAIn Digital Infrastructure, Inc. (NYSE American:AIB) disclosed Tuesday that its 40 MW operating data center campus in South Carolina generated approximately $22.9 million in revenue and approximately $5.7 million in net income in 2024, according to a press release statement. The company currently trades at a market capitalization of $144.7 million, with shares at $1.54—near their 52-week low of $1.21 and down sharply from a 52-week high of $45.75.

The company, which develops and operates digital infrastructure for artificial intelligence and high-performance computing workloads, announced two non-binding letters of intent. The first involves a 5 MW AI infrastructure deployment with an international private equity firm, expected to represent more than $100 million in total contract value over a 10-year term if a definitive agreement is executed. The second is for a 20 MW build-to-suit data center lease with a global cloud infrastructure provider in the Southeastern U.S., expected to represent more than $400 million in total contract value over a 10-year lease term upon execution of definitive documentation.

The two letters of intent represent 25 MW of prospective capacity and more than $500 million in expected initial contract value, subject to execution of definitive agreements. The stock has declined 83.7% over the past year and is down 85.6% year-to-date, reflecting investor concerns about execution risk. InvestingPro analysis reveals the company suffers from weak gross profit margins and maintains a "WEAK" overall financial health score, with 10 additional ProTips available to subscribers.

Chief Executive Officer Jerry Tang stated in a shareholder letter that the company has established a collaboration with Super Micro Computer, Inc. to improve access to high-density AI data center hardware. The company also announced a strategic collaboration with Power and Data Management LLC for access to electrical infrastructure including transformers and switchgear.

As of the date of the letter, BlockchAIn has 37,629,058 shares outstanding, with approximately 4.4 million currently freely trading.

The company stated it plans to report FY2025 earnings and file Form 10-K, followed by a virtual webinar to review the business and strategic priorities. The press release noted that the letters of intent are non-binding and subject to execution and customer commitment risks.

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