SCHEDULE 13G/A: Michel Amar and Affiliates Report 17.5% Beneficial Ownership in Digi Power X Inc.

Michel Amar, along with entities he controls, has filed an amended Schedule 13G reporting a combined beneficial ownership of 17.5% of Digi Power X Inc.'s Subordinate Voting Shares as of March 31, 2025.

Summary

• Michel Amar, individually and through controlled entities (Bit.Management, LLC, NYAM, LLC, and Bit Mining International LLC), beneficially owns 6,465,414 Subordinate Voting Shares of Digi Power X Inc., representing 17.5% of the class.
• This aggregate ownership includes 1,513,219 shares held directly by Mr. Amar, 626,544 shares by Bit Mining International LLC, 2,165,889 shares by Bit.Management, LLC, and 1,493,162 shares by NYAM, LLC.
• Additionally, 666,600 Subordinate Voting Shares issuable upon conversion of 3,333 Proportionate Voting Shares held by NYAM, LLC are included in Mr. Amar's beneficial ownership calculation.
• Mr. Amar also holds 808,333 restricted stock units (RSUs) that are scheduled to vest in tranches between December 2025 and December 2027.
• Bit.Management, LLC separately reports beneficial ownership of 2,165,889 Subordinate Voting Shares, representing 6.0% of the class.
• NYAM, LLC separately reports beneficial ownership of 2,159,762 Subordinate Voting Shares, representing 5.8% of the class, which includes 666,600 shares convertible from Proportionate Voting Shares.
• The percentage calculations are based on 36,974,470 Subordinate Voting Shares outstanding for Mr. Amar and NYAM, LLC, and 36,307,870 shares for Bit.Management, LLC, as of March 31, 2025.

Sentiment

Score: 5

Explanation: The filing is a standard disclosure of beneficial ownership, indicating a significant and ongoing stake by a key individual and related entities. It does not contain information that would significantly alter sentiment positively or negatively beyond the implications of concentrated ownership.

Positives

• Significant insider ownership by Michel Amar and his controlled entities, totaling 17.5%, indicates strong alignment of interests with the company's performance.
• The continued holding of a substantial stake suggests confidence in the company's long-term prospects by a key individual.

Negatives

• Concentrated ownership by a single individual and related entities could potentially reduce liquidity for other shareholders or influence corporate decisions disproportionately.

Risks

• Concentrated Ownership: Michel Amar's significant beneficial ownership (17.5%) through direct holdings and controlled entities (Bit.Management, LLC, NYAM, LLC, and Bit Mining International LLC) could allow him substantial influence over corporate actions, potentially to the detriment of other shareholders.
• Control Risk: Mr. Amar's control over multiple entities holding shares means that a large block of voting power is concentrated, which could impact corporate governance and decision-making processes.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of beneficial ownership and does not provide specific industry context or trends. It indicates a significant, ongoing stake by a key individual in the company.

Related Party Transactions

• Michel Amar controls Bit.Management, LLC, NYAM, LLC, and Bit Mining International LLC, which collectively hold a significant portion of the reported beneficial ownership. Mr. Amar is a majority equityholder of Bit.Management, LLC and NYAM, LLC, and a minority equityholder of BIT Mining International, LLC.

Stakeholder Impact

• Shareholders: The significant beneficial ownership by Michel Amar and his controlled entities (17.5%) means that a large block of voting power is concentrated, potentially influencing corporate decisions and reducing the relative voting power of other shareholders.
• Management: The substantial stake held by Mr. Amar, who controls multiple entities, suggests a strong alignment of interests between a key individual and the company's strategic direction.

Key Dates

Keywords

Digi Power X Inc., Subordinate Voting Shares, Michel Amar, Beneficial Ownership, Schedule 13G, SEC Filing, Shareholder, Institutional Investor, Corporate Governance, Ownership Stake