AlphaTON Capital Corp. (NASDAQ:ATON) rebranded as Alpha Compute Corp. on Monday, with shares set to begin trading under the new ticker “ALP,” marking a strategic pivot to AI GPU-as-a-service and confidential computing amid surging enterprise demand for privacy-first AI infrastructure.
“We believe that AI should be privacy-centric,” CEO Brittany Kaiser said while speaking to Benzinga. “We are really declaring that making privacy-centric AI accessible should be a right.”
From Biotech To Blockchain To AI Infrastructure
Originally incorporated as Portage Biotech Inc., the company rebranded as AlphaTON Capital in September 2025, pivoting to a digital asset treasury strategy focused on the Telegram and The Open Network ecosystem. The latest rebrand to Alpha Compute marks the third and most consequential shift, one Kaiser says was always rooted in the same core mission of bringing privacy-centric tools to market.
The transition accelerated after Telegram introduced Cocoon AI, a confidential computing network available to over a billion users.
Privacy-First Compute As A Structural Play
To support this direction, Kaiser stated that Alpha Compute assembled a team capable of deploying NVIDIA (NASDAQ:NVDA) GPUs, including H200, B200, and B300 models, within confidential computing systems.
“We gathered a team that was able to put Nvidia GPUs on confidential computing, which encrypts all the way down to the hardware level so that no data can be taken by third parties,” Kaiser said.
She also noted that demand for GPUs is rising by more than 60% annually, citing NVIDIA's latest reports.
According to the company’s press release, Alpha Compute runs NVIDIA Blackwell B200 and B300 GPU clusters inside trusted execution environments (TEEs), encrypting data in use, in transit and at rest, with operational infrastructure backed by binding agreements for the deployment of over 1,000 Blackwell-generation GPUs. Fortune Business Insights projects over 70% of enterprise AI workloads will involve sensitive data by 2026.
Fortune Business Insights estimates suggest that by 2026, over 70% of enterprise AI workloads will involve sensitive data.
Not The AI Bandwagon
Last week, several small-cap companies rallied on AI-related announcements, including pivots toward automation, AI infrastructure and agent-based software models.
When asked whether Alpha Compute anticipates a similar market reception, Kaiser said the opportunity is “hard to do.” “There is a moat to being able to execute the amount of fundraising, procurement, hardware management and execution in terms of data centers,” she said. “There’s not a lot of companies that are doing this end to end.”
In response to concerns about companies entering AI without sufficient expertise, Kaiser pointed to her experience. “I have been in the data center industry for 15 years. I started Bitcoin mining in 2011,” she said. She also noted that her previous NASDAQ-listed company, Griffin Digital Mining, was acquired by energy infrastructure platform Hut 8 (NASDAQ:HUT) and now operates as American Bitcoin (NASDAQ:ABTC).
The CEO also confirmed to Benzinga that all GPU orders placed by the company are NVIDIA GPUs, purchased either through Super Micro Computer (NASDAQ:SMCI) or Dell (NYSE:DELL).
On the issue of data privacy, Kaiser warned that users of closed-source AI systems may not fully understand how much information they give up. With Alpha Compute’s confidential computing architecture, she said, users retain full control over their data.
“You can mathematically prove that no one has access to it — not even me, not Nvidia, not any of the other infrastructure providers,” she said.
What Stays, What Changes
Regarding the company's assets, Kaiser explained that while digital tokens remain on the balance sheet, they are no longer the primary focus. “Our core balance sheet assets are Nvidia GPUs,” she said. “We’re continuing to buy those in a very large amount.” More details about GPU holdings are expected in a future earnings report.
In January, SkyBridge Capital founder Anthony Scaramucci, who also serves as strategic advisor to AlphaTON Capital, named Toncoin (CRYPTO: TON) among his top three altcoin picks alongside Solana (CRYPTO: SOL) and Avalanche (CRYPTO: AVAX) for 2026.
According to the company announcement, all existing agreements remain unchanged, including a $43 million infrastructure and financing partnership with Vertical Data Inc., a launch partnership with Telegram's Cocoon AI and the acquisition of mobile gaming platform GAMEE.
The company also stated that existing shareholders are not required to take any action in connection with the ticker or name change.
Trading Metrics
AlphaTON has a market capitalization of $7.50 million, with a 52-week high of $15.82 and a 52-week low of $0.28.
The stock is down 58.44% year to date.
Benzinga's Edge Stock Rankings indicates AlphaTON stock has a negative price trend across all time frames.
Photo Courtesy: Gorodenkoff on Shutterstock.com
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