AIB Data Centers Inc.

What they do

AIB operates a 40 MW data center facility in Spartanburg County, South Carolina, providing power infrastructure, hosting services, and equipment leasing to customers in blockchain computing, AI, and high-performance data processing. The Company says it currently generates substantially all of its revenue from bitcoin hosting arrangements at this site, and that the site has been de-energized as part of its repurposing. AIB is developing the CLT-01 Campus at the same location, targeting approximately 65 MW, through a special-purpose subsidiary, AIB CLT1 LLC, formed on June 23, 2026.

Revenue drivers

• Bitcoin hosting at the legacy 40 MW South Carolina facility — The Company states it currently generates substantially all of its revenue from bitcoin hosting arrangements at the existing site; this is the only revenue source identified in the excerpts.
• Equipment leasing at the existing facility — The Company leases equipment along with space, power capacity, and hosting services to customers requiring computing power, per the 10-K business description.
• Future AI/HPC hosting and colocation at the CLT-01 Campus — Management says it expects future revenue to be generated primarily from long-term AI/HPC hosting and colocation contracts at the CLT-01 Campus and additional greenfield projects; no contracted revenue is quantified in the excerpts.

Recent performance

Revenue was $4.9 million for the quarter ended March 31, 2026 and $2.9 million for the quarter ended June 30, 2026, down from $4.5 million and $4.7 million in the comparable 2025 quarters. The Company attributes the historical results to the de-energized site and states they may not be indicative of future results following commissioning of the CLT-01 Campus. As of June 30, 2026, total assets were $90.4 million, total liabilities were $7.7 million, shareholders' equity was $82.7 million, and cash and equivalents were $52.8 million. The Company completed a June 2026 underwritten public offering of common stock generating approximately $63.25 million in gross proceeds, which it says materially strengthened its balance sheet. Effective June 25, 2026, the Company changed its name from BlockchAIn Digital Infrastructure, Inc. to AIB Data Centers Inc.

Strategy

AIB describes a strategic and operational transformation over the past twelve months from a legacy bitcoin mining hosting business into a developer and operator of purpose-built AI/HPC data center infrastructure. The plan centers on the CLT-01 Campus in South Carolina, an approximately 65 MW development at the site of the existing 40 MW facility, which the Company is repurposing with site improvements. The Company formed AIB CLT1 LLC on June 23, 2026 as the project subsidiary and executed a new long-term electric service agreement providing for 65,000 kVA of contract demand at the campus. AIB listed on NYSE American under the ticker symbol AIB in connection with the March 2026 business combination and rebranded on June 25, 2026. The Company states it may also pursue additional greenfield AI/HPC development projects.

Risks

• Execution and commissioning risk on the CLT-01 Campus — Substantially all of the Company's expected future revenue depends on completing and commissioning the approximately 65 MW CLT-01 Campus and signing long-term AI/HPC contracts, neither of which is reflected in actual results yet.
• Revenue concentrated in legacy bitcoin hosting — The Company states it currently generates substantially all of its revenue from bitcoin hosting arrangements at a single South Carolina site that has been de-energized for repurposing.
• Recent reverse business combination and limited operating history — The March 2026 business combination resulted in One Blockchain securityholders owning approximately 88.3% of the company and is followed by a name change, new listing, and new project subsidiary, with historical results management says may not be indicative of future performance.
• Earnout share issuance tied to 2026 EBITDA target — The business combination agreement provides for earnout shares to One Blockchain securityholders, up to 3,863,460 shares subject to adjustment, if 2026 EBITDA equals or exceeds $25 million.

Outlook

Management states the Company's future revenue is expected to come primarily from long-term AI/HPC hosting and colocation contracts at the CLT-01 Campus and at additional greenfield AI/HPC development projects it may pursue. The Company warns that historical results reflect the de-energized site and may not be indicative of results following commissioning of the CLT-01 Campus. No specific timeline, contracted capacity, or revenue guidance for the AI/HPC business is provided in the excerpts. The Company completed a roughly $63.25 million gross public offering in June 2026, which it describes as materially strengthening its balance sheet for this transition.