<SEC-DOCUMENT>0001213900-25-127175.txt : 20251231
<SEC-HEADER>0001213900-25-127175.hdr.sgml : 20251231
<ACCEPTANCE-DATETIME>20251231184116
ACCESSION NUMBER:		0001213900-25-127175
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251231
FILED AS OF DATE:		20251231
DATE AS OF CHANGE:		20251231

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Ciullo Paul Anthony
		CENTRAL INDEX KEY:			0002101320
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40527
		FILM NUMBER:		251618318

	MAIL ADDRESS:	
		STREET 1:		28 BERGEN PLACE
		CITY:			NISKAYUNA
		STATE:			NY
		ZIP:			12309

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Digi Power X Inc.
		CENTRAL INDEX KEY:			0001854368
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		ORGANIZATION NAME:           	09 Crypto Assets
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		110 YONGE STREET, SUITE 1601
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 1T4
		BUSINESS PHONE:		647-259-1790

	MAIL ADDRESS:	
		STREET 1:		110 YONGE STREET, SUITE 1601
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 1T4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Digihost Technology Inc.
		DATE OF NAME CHANGE:	20210331
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-12-31</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001854368</issuerCik>
        <issuerName>Digi Power X Inc.</issuerName>
        <issuerTradingSymbol>DGXX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002101320</rptOwnerCik>
            <rptOwnerName>Ciullo Paul Anthony</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>28 BERGEN PLACE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NISKAYUNA</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>12309</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Subordinate Voting Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>93245</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.46</value>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2021-09-25</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-03-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Subordinate Voting Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>16333</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.46</value>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2021-11-17</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-05-17</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Subordinate Voting Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>8333</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.07</value>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2021-12-22</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-06-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Subordinate Voting Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3333</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.58</value>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2025-11-19</value>
            </exerciseDate>
            <expirationDate>
                <value>2030-11-19</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Subordinate Voting Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Subordinate Voting Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>16667</value>
                    <footnoteId id="F6"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F7"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Subordinate Voting Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                    <footnoteId id="F6"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The options are fully vested.</footnote>
        <footnote id="F2">Represents an exercise price of $7.47 Canadian dollars, converted to U.S. dollars at the daily average exchange rate of $1.00 to CAD$1.3693 reported by the Bank of Canada on December 30, 2025.</footnote>
        <footnote id="F3">Represents an exercise price of $4.20 Canadian dollars, converted to U.S. dollars at the daily average exchange rate of $1.00 to CAD$1.3693 reported by the Bank of Canada on December 30, 2025.</footnote>
        <footnote id="F4">Represents an exercise price of $4.90 Canadian dollars, converted to U.S. dollars at the daily average exchange rate of $1.00 to CAD$1.3693 reported by the Bank of Canada on December 30, 2025.</footnote>
        <footnote id="F5">The restricted stock units vest in two equal annual installments beginning on February 9, 2026.</footnote>
        <footnote id="F6">Represents restricted share units issued pursuant to Digi Power X Inc.'s Restricted Share Unit Plan.</footnote>
        <footnote id="F7">The restricted stock units vest in two equal annual installments beginning on December 1, 2026.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Paul Ciullo</signatureName>
        <signatureDate>2025-12-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
