AIB BlockchAIn Digital Infrastructure, Inc.
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Executive Summary
BlockchAIn Digital Infrastructure (AIB) released an investor presentation on May 19, 2026, detailing Q1 2026 results and a multi-year development pipeline. Revenue grew 9% YoY to $4.9M, but gross margin compressed to 12% (from 27%), and adjusted EBITDA swung negative to $(0.2)M from $0.8M. The presentation also outlines a ~395 MW pipeline and a GP/LP development model targeting $21.7B in stabilized EV, though these are based on illustrative forward-looking assumptions, not hard guidance.
Actionable Insight
The filing rehashes Q1 2026 results already known since May 15, 2026, with no new hard guidance. The path to profitability depends on converting the 395 MW pipeline into contracted, cash-flowing assets. Monitor for binding lease agreements and construction starts on the MSP and DFW sites to validate the GP/LP development model.
Key Facts
- Q1 2026 revenue of $4.9M, +9% YoY ($4.5M in Q1 2025)
- Gross margin compressed to 12% from 27% YoY due to energy cost headwinds
- Adjusted EBITDA of $(0.2)M vs $0.8M in Q1 2025, a 119% decline
- Net loss of $(0.3)M in Q1 2026 vs net income of $0.5M in Q1 2025
- Operating cash flow $1.3M in Q1 2026 vs $0.4M in Q1 2025
- Cash on hand $1.3M vs $15K at Dec 31, 2025; stockholders' equity $27.2M
- ~40 MW live and cash-flowing, ~90 MW under development, ~395 MW pipeline
- $400M+ TCV LOI signed for build-to-suit capacity; 25 MW of signed non-binding LOIs
- Q1 2026 per-kWh energy cost rose ~22% to $0.056, implied spread compressed 53% to $0.008/kWh
- Zero traditional debt; $27.2M in stockholders' equity
Financial Impact
Q1 2026 revenue $4.9M (+9% YoY); gross profit $0.57M (-54% YoY); net loss $0.3M vs prior-year income of $0.5M; operating cash flow $1.3M.
Risk Factors
- Gross margin pressure from rising energy costs (implied spread compressed 53% YoY)
- Negative adjusted EBITDA and net loss in Q1 2026
- Forward-looking pipeline and GP/LP economics are illustrative, not contracted, requiring significant capital to execute
- Material weaknesses in internal controls identified post-business combination, per 10-Q language
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-058746 |
| Document: ea0291382-8k_blockchain.htm | 0001213900-26-058746 |
| Document: 0001213900-26-058746-index-headers.html | 0001213900-26-058746 |
| Document: 0001213900-26-058746-index.html | 0001213900-26-058746 |
| Document: 0001213900-26-058746.txt | 0001213900-26-058746 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 9, 2026
today
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Press Release
| — | awaiting T+1 | — | — |
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Jun 5, 2026
4d ago
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Press Release
| $1.86 awaiting T+1 | awaiting T+1 | — | $1.62 (+12.90%) |
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Jun 5, 2026
4d ago
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EFFECT
| $1.71 awaiting T+1 | awaiting T+1 | — | $1.62 (−5.26%) |
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Jun 1, 2026
8d ago
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8-K
| $2.50 $2.07 | ▼ −17.20% | ▼ −16.48% | $1.62 (−35.20%) |
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May 19, 2026
21d ago
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8-K
| $1.74 $1.78 | ▲ +2.30% | ▲ +1.26% | $1.62 (−6.90%) |
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May 15, 2026
25d ago
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Press Release
| $1.44 $1.79 | ▲ +24.31% | ▲ +24.37% | $1.62 (+12.50%) |
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Apr 15, 2026
7w ago
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8-K
| $1.58 $1.65 | ▼ −4.43% | ▼ −4.18% | $1.62 (−2.53%) |
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Mar 31, 2026
10w ago
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Press Release
| $1.04 $1.00 | ▼ −3.85% | ▼ −4.59% | $1.62 (+55.77%) |
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Mar 24, 2026
11w ago
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Press Release
| $1.34 $1.26 | ▼ −5.97% | ▼ −6.54% | $1.62 (+20.90%) |
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Mar 16, 2026
12w ago
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Press Release
| $2.90 $3.32 | ▲ +14.48% | ▲ +15.88% | $1.62 (−44.14%) |
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