Digi Power X heads into this week carrying a striking split: the stock has more than doubled in a month while short sellers quietly rebuild positions and the borrow pool tightens — a setup worth watching closely.
The most notable shift in the lending market is the rapid tightening of availability. It dropped to 44% this week, down sharply from 70% just five days earlier, and briefly touched a 52-week low of 25.6% on May 15. That low reading — one share available for every four already borrowed — represents the tightest borrow conditions DGXX has seen all year. Cost to borrow has moved in the same direction, climbing 50% over the past week to 1.57% APR, though it remains a modest absolute level. Neither figure signals imminent squeeze pressure on its own, but the direction of travel is clear: the stock is becoming harder and costlier to short.
Short interest, though still modest in absolute terms at 0.2% of free float, is building fast. Shares short rose 31% over the past week and are up 28.5% over the past month — and the bulk of that acceleration happened in the second week of May, as the stock made its big run. That pace of increase against such a low base deserves more attention than the headline percentage suggests. The ORTEX short score has drifted higher to 45.1, roughly the middle of the range, consistent with a market that is noticing the move but not yet decisively pressing the short side.
The Citadel Advisors position is the headline institutional story here. The firm reported 3.55 million shares as of May 5, a position that was essentially built from scratch — last-reported change of 3.35 million shares — making it the second-largest disclosed holder behind Michel Amar's 4.2 million-share stake. Vennlight Capital also added aggressively, growing its holding by 1.17 million shares to 2.9 million. The flip side: Jane Street trimmed by over 1 million shares in Q1, and insiders have been sellers throughout. Alec Amar, President, sold shares on three separate dates between March and May 1, collecting roughly $239k in total proceeds at prices between $2.25 and $3.56 — well below this week's close of $10.46 on the NEOE listing (USD equivalent). The divergence between institutional accumulation at the fund level and insider selling at the company level is the central tension in the ownership picture.
Recent earnings added another layer. The May 14 event produced a one-day move of -10.3%, and the May 15 release saw the stock recover 5.7%. That pair of prints suggests the stock is sensitive to results in both directions. The next event is not scheduled until August 14 — a long gap that leaves the current price action largely untethered from fundamental catalysts in the near term.
The ORTEX stock score note from May 5 flagged momentum at 76.4 and growth at 62.1, with 90-day relative strength of 143.6 and forward EPS momentum turning positive. Those readings remain the bull case backdrop. Peer context complicates it: close correlated names HUT, RIOT, and BTBT each fell 8–19% on the week, while HIVE bucked the trend with a 22% one-day spike. DGXX's -9.7% weekly move sits squarely in the middle of that peer range — neither immune nor the worst performer. The key watch over the coming sessions is whether availability continues to tighten from its 44% level toward the 25% floor hit last Friday, and whether short sellers accelerate the pace of position building as the stock continues to trade far above the prices at which insiders have been selling.
See the live data behind this article on ORTEX.
Open DGX on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
