TechFlow reported on June 17 that Ionic Digital has released its mining and operations update for May 2026. According to the update, the company mined 24.77 Bitcoin during the month, representing a 21.1% increase from the previous month. Its average daily hashrate reached 1.74 EH/s, up 15.3% month on month. The two operating indicators both showed improvement compared with the prior reporting period.
Midland Site Performance Drives the May Increase
Ionic Digital said the improvement in average daily hashrate was mainly driven by better capacity and operating performance at the Midland mining area. During the reporting period, Midland was the company’s only operating mining facility. The site is composed of four locations, and in May it had total available capacity of 112.0 megawatts. The miner efficiency reported for the period was 29.1 J/THs.
No Bitcoin Sold and Zero Debt Maintained
As of May 31, 2026, Ionic Digital had not sold any Bitcoin during the month and continued to maintain a zero-debt position. The company held 2,861.0 Bitcoin at month-end, an increase of approximately 24 Bitcoin from the previous month. The reported change in holdings corresponds with the company’s May mining production and reflects its treatment of Bitcoin during the reporting period.
The May update focused on a defined set of operating and balance-sheet indicators: Bitcoin production, average daily hashrate, available mining capacity, miner efficiency, Bitcoin holdings, Bitcoin sales activity, and debt status. Based on the disclosure, Midland remained Ionic Digital’s only operating mining area, and improvements at that site were the main explanation provided for the month-on-month increases in production and hashrate.