# EDGAR Filing Document

**Accession Number:** 0001854368
**File Stem:** 0001213900-25-127175
**Filing Date:** 2025-12
**Character Count:** 5960
**Document Hash:** 8055caf403ba6a750658eeed7670ecfb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-127175.hdr.sgml**: 20251231

**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

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Ciullo Paul Anthony<br><sub>(Last) (First) (Middle)</sub><br>28 BERGEN PLACE<br><sub>(Street)</sub><br>NISKAYUNA, NY 12309<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>Digi Power X Inc. [ DGXX ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2025-12-31 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [ ] 10% Owner<br>[X] Officer (give title below)   [ ] Other (specify below)<br>_Chief Financial Officer_ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |
| Subordinate Voting Shares | 93245 | D |  |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| Employee stock option (right to buy) | 2021-09-25 | 2026-03-25 | Subordinate Voting Shares | 16333<sup>(1)</sup> | 5.46<sup>(2)</sup> | D |  |
| Employee stock option (right to buy) | 2021-11-17 | 2026-05-17 | Subordinate Voting Shares | 8333<sup>(1)</sup> | 5.46<sup>(2)</sup> | D |  |
| Employee stock option (right to buy) | 2021-12-22 | 2026-06-22 | Subordinate Voting Shares | 3333<sup>(1)</sup> | 3.07<sup>(3)</sup> | D |  |
| Employee stock option (right to buy) | 2025-11-19 | 2030-11-19 | Subordinate Voting Shares | 15000<sup>(1)</sup> | 3.58<sup>(4)</sup> | D |  |
| Restricted Stock Units | <sup>(5)</sup> | <sup>(5)</sup> | Subordinate Voting Shares | 16667<sup>(6)</sup> | $0 | D |  |
| Restricted Stock Units | <sup>(7)</sup> | <sup>(7)</sup> | Subordinate Voting Shares | 20000<sup>(6)</sup> | $0 | D |  |

---

### Footnotes:

(1) The options are fully vested.

(2) 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.

(3) 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.

(4) 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.

(5) The restricted stock units vest in two equal annual installments beginning on February 9, 2026.

(6) Represents restricted share units issued pursuant to Digi Power X Inc.'s Restricted Share Unit Plan.

(7) The restricted stock units vest in two equal annual installments beginning on December 1, 2026.

**Signature:** /s/ Paul Ciullo  
**Date:** 2025-12-31

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**