Ionic Digital

About Ionic Digital

Ionic Digital Inc. is a digital infrastructure company that emerged in January 2024 from the bankruptcy of Celsius Network, acquiring the assets of Celsius Mining. Initially a Bitcoin mining operator, the company has strategically pivoted to address the growing demands of high-performance computing (HPC) and artificial intelligence (AI) by developing and leasing its powered land assets. This transition leverages its history in energy-intensive cryptocurrency infrastructure to solve key industry challenges like power scarcity and long development timelines for data centers. The company's formation was part of Celsius Network's reorganization plan, with former Celsius creditors becoming the inaugural shareholders of Ionic Digital. Headquartered in Austin, Texas, the company is led by CEO Andy Stewart, who was appointed in November 2025 and has extensive experience in digital infrastructure. The executive team has been further strengthened with the appointments of industry veterans to drive strategy and development. Ionic Digital's business model is shifting from primarily Bitcoin mining revenue to more predictable, long-term cash flows from leasing its digital infrastructure assets. A key milestone in this transition was a 126-month triple-net lease agreement with AI infrastructure provider Nscale, signed in October 2025. This agreement, covering Ionic's 234-megawatt data center campus in Ward County, Texas, represents approximately $1.95 billion in contracted revenue and involves converting the former mining facility into an AI and HPC data center. While pivoting, the company continues to run limited cryptocurrency mining operations. Ionic Digital serves hyperscalers, NeoClouds, and large enterprises by providing power-ready, scalable data center sites. In June 2026, the company completed a $400 million private placement at a $2 billion pre-money valuation to support the development of its digital infrastructure assets. Shortly after, it filed for a direct listing on the Nasdaq under the ticker symbol "IOND", aiming to provide liquidity for its existing shareholders, including the former Celsius creditors.