Alpha Compute Corp, a technology company, engages in the acquisition, deployment, and leasing of high-performance graphics processing units in data center facilities to power artificial intelligence in North America and Europe. The company operates through Digital & Compute and Immuno-Oncology segments. It also provides GPU-as-a-Service and AI confidential compute solutions to enterprise customers, technology companies, AI research laboratories, and decentralized AI ecosystems. The company was formerly known as AlphaTON Capital Corp. and changed its name to Alpha Compute Corp in April 2026. Alpha Compute Corp is based in Tortola, the British Virgin Islands.
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Alpha Compute to buy Pennsylvania land and gas rights for $55 million data center campus
AI infrastructure company Alpha Compute has signed a binding term sheet to acquire land and natural gas rights in Pennsylvania for $55 million to develop a 200-megawatt data center campus, CEO Brittany Kaiser told Reuters. The northern Pennsylvania site, which would include gas-fired power generation, is expected to begin operating in the third quarter of 2027 and could eventually be expanded to generate one gigawatt of power. The deal includes undeveloped Marcellus gas rights covering about 1,800 mineral acres and gives the British Virgin Islands-incorporated company an exclusive option to acquire the assets, subject to due diligence, financing, permitting and final agreements. Kaiser expects to close the deal after a 60-day diligence period, with the build-out of the campus, including electrical connections, to cost about $500 million spread out over years. The project would be Alpha Compute's first data center development in the United States.
Crypto Treasury Firms Pivot to AI as Investor Demand Collapses
A growing number of digital-asset treasury companies are pivoting to artificial intelligence businesses in an effort to regain investor interest, but the strategy has largely failed to halt steep share-price declines. K Wave Media Ltd., a former Bitcoin accumulator that shifted to data center development, has fallen 71% since rebooting in May; Lixte Biotechnology Holdings Inc. dropped 33% since agreeing to merge with a battery firm in June; and AlphaTON Capital Corp., which held alternative cryptocurrencies, has declined 33% since rebranding as Alpha Compute Corp. in April. These firms are among at least a dozen DATs that have turned to AI-related ventures amid a crypto slump that has seen Bitcoin fall 49% from its October 2024 peak and US and Canadian DAT stocks post a median decline of 43% this year. Law firms that previously handled private placements for DATs report a complete halt in such deals since October, with companies now seeking opportunities in data centers, space exploration, and small nuclear reactors. While some Bitcoin miners like CoreWeave, Hut 8, Iren, and TeraWulf have seen better results retooling for AI, the broader pivot has not reversed the exodus from the crypto treasury model.
Alpha Compute Moves to Revenue Generation with $21-23 Million Run Rate
Alpha Compute Corp. has transitioned to a live AI compute operator with a $21 million to $23 million annualized revenue run rate, driven by its operational ALPHA-01 cluster and the recent GAMEE acquisition. The company's first enterprise-scale deployment, ALPHA-01, comprises 504 NVIDIA B200 GPUs under a two-year, $32.2 million contract with a frontier AI research lab, generating $16.1 million of annual contracted revenue and supported by a $7.5 million upfront reservation payment. ALPHA-02, a 576-GPU B300 cluster in Sweden, is targeted for late third-quarter 2026 deployment and is expected to roughly double the operating fleet, while a $200 million-plus qualified pipeline of late-stage enterprise opportunities supports further scale-up. The acquisition of a 60% controlling interest in GAMEE adds approximately 120 million registered users and a consumer application layer that could create internal demand for ALP's compute infrastructure. Management's outlook and the current valuation of 0.65 times annualized run-rate sales, compared with a peer average of 7.52 times, leave room for rerating as revenue, margins, and deployment milestones are delivered.
Alpha Compute Corp. has appointed Enzo Villani as President, effective July 16, 2026. Villani, who already serves as Executive Chairman and Chief Investment Officer, will take on broader responsibility for corporate strategy, capital allocation, and operational execution while continuing his CIO duties under the newly formed Presidents Office. He will work alongside CEO Brittany Kaiser and the executive leadership team, and the CIO office will continue to report to him. The company does not expect the leadership transition to result in any change to its previously disclosed strategy, operations, or financial guidance.
Alpha Compute Corp to host Earnings Call on July 15, 2026
Alpha Compute Corp has scheduled its earnings conference call and webcast for Wednesday, July 15, 2026 at 1:00 PM ET. During the call, Alpha Compute management will discuss the unaudited financial and operational results, followed by a question-and-answer session. The company will release its results before the call at approximately 8:00 AM ET on July 15, 2026, with the earnings release available on its Investor Relations website.
Alpha Compute Corp. Completes Wind-Down of Legacy Digital Asset Treasury, Returns TON Holdings
Alpha Compute Corp. has initiated the return of the final tranche of locked and liquid Toncoin holdings, worth approximately $6 million, to affiliates of Animoca Brands, completing the orderly wind-down of its legacy Digital Asset Treasury and formally closing that line of business. The company will no longer hold digital assets as a balance-sheet treasury position, and going forward will hold Telegram GRAM tokens solely as earned consideration for AI confidential compute delivered to Telegram’s Cocoon AI network. The move completes Alpha Compute’s transformation from the treasury-oriented model of its predecessor, AlphaTON Capital Corp., into an operating company focused on sovereign AI compute infrastructure. Following the wind-down, the company projects unaudited assets of $73.4 million, equity of $20.5 million, debt of $0.4 million, GPU lease liabilities of $34.4 million, a twelve-month revenue forecasted run rate of $23 million, and 72 million shares outstanding. Alpha Compute remains a committed infrastructure provider to Telegram’s Cocoon network, delivering Trusted Execution Environment-secured inference through its Shroud confidential-compute product.