DarkHorse Technologies reported Q3 2026 results

Item 2.02. Results of Operations and Financial Condition.

On November 6, 2026, we issued a press release announcing our financial results for our third fiscal quarter ended September 30, 2026.¹ The information contained in the press release is incorporated herein by reference and furnished as Exhibit 99.1.²

Item 7.01. Regulation FD Disclosure.

The information contained in Item 2.02 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 7.01.

The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, except to the extent such other filing specifically incorporates such information by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number

Description

99.1

Press Release dated November 6, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: November 6, 2026

DARKHORSE TECHNOLOGIES INC.

By:

/s/ Kurt Kalbfleisch

Kurt Kalbfleisch

Chief Financial Officer

DarkHorse Reports Third Quarter 2026 Financial Results

Contracted power doubled to approximately 100 MW

Bitdeer installations completed across three sites

Wilmington, Delaware, November 6, 2026 - DarkHorse Technologies Inc. (Nasdaq: DRK) (the "Company" or "DarkHorse") today reported financial results for the third quarter ended September 30, 2026. During the quarter, the Company doubled its contracted power capacity to approximately 100 MW.^{3 3}Of the 100 MW, approximately 50 MW is currently operating and the remaining 50 MW relates to a facility under development.³ The Company also completed Bitdeer mining machine installations across three sites and advanced engineering and site work for planned superintelligence factories focused on AI inference⁴, including an initial basis-of-design package for a Kentucky project and boundary surveys at two Kentucky development sites. Across its sites in Kentucky and Tennessee, the Company continued to work with its utilities and local officials on the utility coordination, civil infrastructure and permitting required before construction can begin.

CEO Commentary

"We had a very productive quarter," said Joel Block, Chief Executive Officer of DarkHorse. "We doubled our contracted power capacity to approximately 100 MW, completed Bitdeer installations across three sites and advanced engineering for our planned superintelligence factories, including an initial basis-of-design package for a Kentucky project and boundary surveys at two of our Kentucky development sites. Additionally, we sold non-core assets and raised capital as we continued to shift the business toward power and data center infrastructure." Block continued, "At our sites in Kentucky and Tennessee, we have long-standing working relationships with the local communities, utilities and officials. Power, land and local support are what determine whether a project actually gets built, and we are building trust site by site rather than assuming it will just be there."

"We believe the race in AI infrastructure is to bring usable compute capacity online in 2027," Block added. "Our focus is inference, where trained AI models serve everyday applications. We see an opportunity to combine modular builds with existing industrial sites and established power infrastructure to bring capacity into service faster. Our goal is to turn those sites into operating superintelligence factories that serve customers and generate revenue."

AI Inference Strategy

DarkHorse is focused on developing infrastructure for AI inference, the use of trained models to perform tasks in everyday software and business applications.⁵ Large frontier-model training projects can require several hundred megawatts at a single location. Management believes growing inference demand creates an opportunity for smaller sites, including those under 50 MW, that can be developed and deployed more rapidly.

The Company plans to use modular builds at suitable existing industrial sites, including locations with power infrastructure already in place. Management believes this approach can shorten development timelines, support phased deployment and help bring capacity into service sooner.

Strategic and Business Updates

● Doubled contracted power to approximately 100 MW. On September 30, 2026, a subsidiary of the Company signed a 50 MW Data Center Project Power Contract with Hopkinsville Electric System in Kentucky. The agreement doubled the Company's contracted power capacity to approximately 100 MW. The additional capacity supports a proposed data center under development.

● Completed installations for Bitdeer hosting. During the latter part of the third quarter, installation was completed at three sites covered by the Company's 30 MW hosting arrangement with Bitdeer Technologies. The sites are located in Tennessee and Kentucky. The agreements provide for hosting with profit-share while the Company evaluates future uses of its infrastructure, including AI workloads.

● Advanced engineering for planned AI facilities. The Company advanced engineering for planned superintelligence factories in the Tennessee Valley Authority region. Work included an initial basis-of-design package for a Kentucky project and boundary surveys for two Kentucky development sites. These activities remain part of pre-construction development. DarkHorse is building a repeatable development program that brings together engineering, utility coordination, procurement, financing and delivery.

● Completed $5 million PIPE with insider participation. On September 8, 2026, the Company entered into a securities purchase agreement for a $5.0 million private investment in public equity (PIPE) financing, which closed on September 11, 2026.⁶ Affiliates of the Company, including the Chairman of the Board and the Chief Executive Officer, purchased an aggregate of 333,332 units for approximately $1.0 million.⁷ The Company sold units at $3.00 each, a 29% premium to its closing share price on September 4, 2026, the last trading day prior to signing. Each unit contained one common share and one five-year warrant exercisable at $3.50 per share. Net proceeds totaled approximately $4.8 million. The Company intends to use these funds for working capital and general corporate purposes, including AI and HPC development in the TVA region.⁸

● Sale of non-core assets. On September 1, 2026, the Company entered into a definitive agreement