Deals. $119B of disclosed HPC and AI contract value, announced by 11 of the 18 miners in the 18 months to Sep 29, 2026.

5 companies were checked and have no HPC or AI agreement: a finding, not a blank. The documents were read, and this is what they say.

• KEEL

  No HPC or AI colocation, lease or hosting contract signed, as of Aug 10, 2026.

  Active negotiations at three sites with deepening commercial engagement

  Keel (formerly Bitfarms) has decommissioned all US bitcoin mining for HPC construction and reports a 2.2 GW pipeline, but the Q2 2026 release describes prospective tenants negotiating, not a signed lease. Adjacent agreements that are not customer deals: a $128.7 million binding purchase commitment for critical IT equipment and building materials for 18 MW gross (November 2025), a $300 million Macquarie credit facility for Panther Creek HPC development (April 2025), a 21 MW third-party ASIC hosting contract at Panther Creek, a partnership with builder T5 Data Centers to advance HPC/AI development at Panther Creek (August 2025), and a Hydro-Sherbrooke agreement for the conditional transfer of 96 MW (August 2026).

  3 documents checked: 1, 2, 3.

• ARBK

  No HPC or AI colocation, lease or hosting contract signed, as of Sep 3, 2026.

  The Company is actively evaluating opportunities in high-performance computing and artificial-intelligence data center infrastructure.

  Argo Blockchain files as a foreign private issuer (20-F). Its only hosting agreements in the window are bitcoin ASIC hosting with Merkle Standard (9,315 miners at Memphis, up to 4,000 in Washington State), which ended in March and April 2026. HPC and AI appear in the 20-F only as competition for power. No 2026 interim 6-K with an HPC contract was found in the corpus checked. Its 6-K of Sep 3, 2026, on the departure of its chief executive, still describes AI and HPC as opportunities it is evaluating.

  2 documents checked: 1, 2.

• VIP

  No HPC or AI colocation, lease or hosting contract signed, as of Sep 10, 2026.

  The Company's post-transaction priorities include securing customers for up to 104 MW of near-term capacity at its owned sites, advancing development of those assets progressing approximately 510 MW of additional future capacity and pursuing acquisitions of additional energized assets and powered land.

  Vulcan Infrastructure and Power (formerly Greenidge Generation) has a pipeline, not a contract. Watch out for the CoreWeave lease in its August 2026 investor presentation: the 100 MW Lancaster lease to CoreWeave and the 19-year 178 MW triple-net lease are case studies of what its new strategic investors (Machine Investment Group and Atlas) did before investing in Vulcan, not Vulcan contracts. Also in the window: a proposed NYSEG interconnection agreement for 60 MW of non-curtailable power at Dresden (May 2026).

  4 documents checked: 1, 2, 3, 4.

• DRK

  No HPC or AI colocation, lease or hosting contract signed, as of Sep 14, 2026.

  The Company has no contracted artificial intelligence or high-performance computing revenue.

  Sphere 3D closed its business combination with Cathedra Bitcoin in 2026 and took the name DarkHorse Technologies Inc. on Sep 16, 2026; its shares have traded as DRK since Sep 17, 2026. Its September 2026 investor deck says it has no contracted AI or HPC revenue, and its release of Sep 16, 2026 calls the AI and HPC uses of its sites potential, none of them contracted. After agreeing to sell its Iowa site and its legacy mining fleet it expects about 50 MW across four sites in Tennessee and Kentucky and has proposed a new 50 MW data center at Hopkinsville, Kentucky. Its capacity contracts are co-mining agreements with Bitdeer covering 30 MW, which are bitcoin mining, not AI or HPC.

  5 documents checked: 1, 2, 3, 4, 5.

• BGDE

  No HPC or AI colocation, lease or hosting contract signed, as of Sep 24, 2026.

  Under the terms of the agreement, Endeavor will purchase and deliver approximately 25,000 mining computers, and Big Digital will provide Endeavor with approximately 75MW of compute capacity.

  Big Digital Energy (formerly Mawson Infrastructure) signs colocation agreements, but they are bitcoin ASIC colocation: 9 MW, 20 MW and 64 MW enterprise agreements (September 2025), a related-party 75 MW agreement with the Endeavor Group (April 2026) and a roughly 50 MW framework with Consensus/NYDIG (June 2026). Its AI work in the window is a GPU pilot on a decentralised AI network (October 2025) and an AI colocation plan for the Texas Load House site (July 2026), neither of which is a signed AI customer contract. Its only 8-K since, of Sep 24, 2026, exchanges a credit line owed to Endeavor for shares and names no AI or HPC agreement.

  5 documents checked: 1, 2, 3, 4, 5.

Listed apart: no agreement in its own name, but a consolidated subsidiary holds agreements. This is not a finding that the group has none.

• BTBT

  No HPC or AI agreement in its own name is on file: every one it reports was signed by WhiteFiber or a WhiteFiber subsidiary, which Bit Digital consolidates, as of Aug 13, 2026.

  In November 2025, WhiteFiber's wholly owned subsidiary, Enovum NC-1 Bidco, LLC, entered into the Services Agreement with Nscale Services US Inc.

  Bit Digital's quarterly report for the quarter ended June 30, 2026 stated that it owned about 69.6 percent of WhiteFiber and consolidated it, so this is not a finding that Bit Digital's group has no agreements: WhiteFiber alone reports more than $540 million of new cloud contracts. Bit Digital's Schedule 13D/A with an event date of August 21, 2026 states 59.9 percent of the class. WhiteFiber issued new shares and Bit Digital's own 27,043,750 shares did not change, so the later, lower figure is dilution, not a sale. WhiteFiber is a separate company and the agreements are its own. A WhiteFiber subsidiary signed the Nscale agreement at NC-1. WhiteFiber's own filings describe the Cerebras agreement at MTL-3, the DNA Fund agreement (which WhiteFiber ended in November 2025) and the first customer's GPU agreement. Bit Digital's own release and deck present the 24 MW at NC-1, the $175 million and the $540 million of cloud contracts as WhiteFiber's. None is shown here as Bit Digital's, and nothing is added up for Bit Digital.

  5 documents checked: 1, 2, 3, 4, 5.