Alpha Compute Wraps Up Treasury Wind-Down with $6M Toncoin Return
Alpha Compute Corp. has completed the wind-down of its Digital Asset Treasury by returning $6 million in Toncoin to affiliates of Animoca Brands. The company will retain $200,000 worth of TON for a final legacy shareholder through Telegram’s Novation agreements. This move marks the end of Alpha Compute’s earlier model as AlphaTON Capital Corp., which focused on holding Telegram-ecosystem tokens. The company has now shifted its focus to GPU-as-a-Service and confidential computing, rebranding in April 2026.
Alpha Compute provided unaudited financial projections showing assets of $73.4 million, equity of $20.5 million, and debt of $0.4 million. Despite a weak financial health score, the stock appears undervalued based on Fair Value metrics. The company forecasted a twelve-month revenue run rate of $23 million with 72 million shares outstanding. It currently trades at a market capitalization of $5.69 million.
In other recent developments, Alpha Compute completed a $18 million acquisition of GAMEE, a gaming and digital rewards platform with 120 million registered users. The company also secured a $32.2 million GPU lease agreement with an AI research laboratory and a $31.9 million non-recourse loan facility. Additionally, Alpha Compute is targeting a May 8, 2026, launch for its first large-scale GPU cluster in Canada, delayed due to supply-chain issues.
Enzo Villani, Executive Chairman and Chief Investment Officer, stated, 'When we were AlphaTON Capital, a digital asset treasury fit what the company was. Alpha Compute is a different company with a different mandate.' The company remains committed to providing infrastructure for Telegram’s Cocoon AI network, serving over one billion users.