Datacentrex — Third Quarter 2026 Earnings Summary

Financial Performance:

• Revenue was approximately $1.7 million for the quarter, a 29% decrease from $2.4 million in the third quarter of 2025.
• Gross profit was approximately $80,000 (4.6% margin), compared to $1.5 million (59.2% margin) in the prior-year period.
• Total operating expenses were approximately $4.9 million, up from $3.1 million in the prior-year period, driven by $3.3 million in depreciation and amortization, $669,000 in stock-based compensation, and $936,000 in general and administrative expenses.
• GAAP net loss was approximately $2.6 million ($0.06 per share), compared to a net loss of $1.5 million in the third quarter of 2025.
• Adjusted EBITDA was positive at approximately $1.3 million, compared to $770,000 in the third quarter of 2025 and a loss of $1.3 million in the second quarter of 2026; this figure included $2.2 million in net realized and unrealized gains on digital assets.
• Net Cash Burn was approximately $867,000, compared to net cash generation of $411,000 in the prior-year period.
• Cash and digital assets totaled approximately $29.3 million as of September 30, 2026 ($27.5 million cash, $1.7 million digital assets), with no outstanding debt.
• Stockholders' equity was approximately $72.6 million.
• The $30 million investment in Eagle LNG was carried at $30.0 million under the ASC 321 measurement alternative with no impairment recognized.

Guidance and Future Outlook:

• Management targets an approximately 21% increase in online Scrypt hashrate upon full deployment of the prepaid mining fleet expansion.
• Upon full energization of the new miners, online hashrate is expected to increase from approximately 43.2 TH/s to 52.2 TH/s, and deployed power capacity from 12.2 MW to 14 MW, without additional hardware-acquisition expenditures.
• Eagle LNG capacity expansion, including its permitted Jacksonville export facility, is subject to financing and execution.
• Eagle LNG's space propulsion growth depends on customer programs, vehicle readiness, and launch activity.

Business Segments and Product Lines:

• Digital Asset Mining: Operated 3,085 Scrypt ASIC miners across four U.S. colocation facilities as of September 30, 2026, with 43.2 TH/s aggregate nameplate hashrate and 12.2 MW deployed power capacity.
• In August, secured colocation capacity for more than 500 additional ElphaPex DG2 Scrypt ASIC miners that had been prepaid in a prior period.
• Energization of the mining fleet expansion began on October 14.
• Eagle LNG Investment: Acquired a 10.5% equity interest in ELNG Equity LLC for $30 million in August.
• Eagle LNG has produced over 300 million gallons of LNG since 2018 and completed over 750 marine bunkering operations.
• Eagle LNG supply agreements include terms of 10 years or longer with take-or-pay provisions.
• Eagle LNG serves marine, utility, and space propulsion customers, including aerospace-specification liquid methane suppliers for next-generation commercial launch vehicles.

Market and Competitive Landscape:

• Eagle LNG's integrated infrastructure (liquefaction, storage, delivery) supports customers requiring reliable fuel supply and specialized logistics.
• Existing production constraints limit Eagle LNG's ability to meet additional marine and Caribbean demand.
• The company faces risks related to volatility in digital asset prices (Dogecoin, Litecoin, Bitcoin), Scrypt network difficulty increases, and competition in mining markets.

Risks and Challenges:

• Potential delays or failures in the delivery, installation, or energization of mining equipment.
• Risk that deployed equipment does not perform at manufacturer-rated hashrate or efficiency.
• Changes in colocation availability, power rates, or contracted power capacity.
• Volatility in digital asset prices and potential regulatory developments affecting digital assets.
• Risks associated with the investment strategy, including cybersecurity, custody of digital assets, and potential changes in accounting standards.

Management Commentary and Tone:

• CEO Parker Scott stated that the positive Adjusted EBITDA and substantial liquidity provide flexibility to support mining operations and pursue opportunities creating long-term stockholder value.
• Management views the Eagle LNG investment as a strategic complement to digital asset operations, providing exposure to established energy infrastructure with growth in marine fuel, Caribbean power, and space propulsion.
• Scott expressed confidence that serving additional demand for Eagle LNG can strengthen earning power and increase the long-term value of the investment.

Other Key Points:

• On August 28, completed the purchase of $30 million of Class A Common Units in ELNG Equity LLC, representing a 10.5% equity interest.
• An affiliate of The Energy & Minerals Group invested an additional $10 million in ELNG Equity LLC at the same value per unit.
• Eagle LNG's operating results are not consolidated into Datacentrex's results.
• Net cash used in operating activities for the nine months ended September 30, 2026, was $7,516,521.
• The company intends to pursue selective investments, partnerships, and acquisitions to drive innovation and value creation.