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Ionic Digital Adds 21 BTC, Bringing Holdings to 2,882
Ionic Digital
2026-08-01 12:57:36

Ionic Digital lists on Nasdaq after pivot from Bitcoin mining to AI data center leasing

Ionic Digital, a company that emerged from the fallout of Celsius Network’s 2022 bankruptcy, made its Nasdaq debut on July 28, 2026 under the ticker IOND. Shares rose 25% on the first trading day, giving the company a market value of about $2.4 billion. Just weeks earlier, Ionic had closed a $400 million private financing round led by Attestor, Oaktree Capital and Sachem Head, with Citadel participating, at a pre-money valuation of $2 billion. The company’s business has shifted sharply away from Bitcoin mining and toward AI data center leasing in Texas. Its flagship Ward County facility, with 234 megawatts of capacity, has been fully leased to cloud provider Nscale under a 10.5-year agreement worth about $1.95 billion. An expanded agreement signed in February 2026 could raise the total to about $2.6 billion if an additional 89 megawatts are delivered in the second half of 2027. First-quarter 2026 results show how quickly the model has changed. Ionic reported $51.4 million in revenue, including $44 million from data center leasing and $7.4 million from Bitcoin mining. The company still holds 2,861 BTC and had 95.7 BTC of production in the quarter, but mining now accounts for less than 15% of revenue. The company also faces concentration risk, as Nscale represents nearly all of its contracted leasing income, while construction timing remains a key variable for future revenue recognition.

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Ionic Digital lists on Nasdaq after pivot from Bitcoin mining to AI data center leasing
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