3 weeks ago
Bitcoin miner-turned-AI infrastructure institution Ionic Digital has filed for a Nasdaq nonstop listing that could springiness erstwhile Celsius creditors a nationalist marketplace for shares they received done the bankrupt lender’s restructuring.
Registered stockholders whitethorn merchantability up to 10.8 cardinal Class A shares nether the projected IOND ticker, according to a registration connection filed with the US Securities and Exchange Commission connected Monday.
Ionic was formed successful 2024 to get Celsius Mining’s assets done the bankrupt lender’s restructuring. In the filing, Ionic said it started repositioning itself successful 2025 from a pure-play Bitcoin miner into a broader integer infrastructure institution serving artificial quality and high-performance computing (HPC) workloads.
The projected nonstop Nasdaq listing volition not rise caller superior for Ionic, according to the filing. Instead, the listing volition found a nationalist marketplace for existing shareholders, including erstwhile Celsius creditors who received Ionic shares done the bankruptcy plan.
Ionic repurposes Bitcoin mining tract for AI
Ionic’s AI pivot revolves astir its 234-megawatt Ward County spot successful Texas, primitively developed for Bitcoin mining. In October 2025, the institution leased the tract to AI infrastructure supplier Nscale nether a 126-month statement representing astir $2 cardinal successful contracted revenue.
Ionic said the statement could beryllium expanded to see an further 89 MW if the institution secures the required capableness and approvals. This perchance increases its contracted gross to astir $2.6 billion, according to the company.
Related: Celsius’ Mashinsky gets imperishable trading prohibition successful CFTC settlement
The displacement has started to look successful Ionic’s fiscal results. The institution recorded $44 cardinal successful integer infrastructure leasing gross successful the archetypal 4th of 2026, portion Bitcoin mining gross fell 82% twelvemonth implicit twelvemonth to $7.4 cardinal arsenic it repurposed Ward County and reduced the fig of progressive miners, according to its SEC filing connected Monday.
Ionic Digital’s reported revenue. Source: SEC filing
The filing follows Ionic’s completion of a $400 cardinal equity backstage placement connected Friday. Ionic said the proceeds would beryllium utilized for wide firm purposes, portion its CEO, Andy Stewart, said the funds would enactment the continued improvement of its integer infrastructure assets.
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