Bitcoin Miner Ionic Digital Files for Nasdaq Direct Listing
Summary
- Ionic Digital said it would provide liquidity through a Nasdaq direct listing, the ticker 'IOND', and a structure allowing existing shareholders to sell up to 10.8 million Class A shares.
- The company said it is pursuing an AI and HPC infrastructure transition strategy centered on a 126-month long-term lease of its 234MW Texas data center to Nscale, with the contract value rising to as much as $2.6 billion.
- As results shift toward $44 million in digital infrastructure leasing revenue and $7.4 million in Bitcoin mining revenue (down 82%) in the first quarter of 2026, the company also completed a $400 million private stock sale.
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Ionic Digital, the Bitcoin mining company created through Celsius Network’s bankruptcy process, has filed for a direct listing on Nasdaq. The move is intended to give Celsius bankruptcy creditors a public market for their holdings as the company pivots toward artificial intelligence infrastructure.
Cointelegraph reported on June 30 that Ionic Digital submitted a registration statement to the US Securities and Exchange Commission. The company proposed the ticker symbol “IOND” and structured the listing to let existing shareholders sell up to 10.8 million Class A shares. The direct listing would provide liquidity to current holders without raising new capital.
Ionic Digital was established in 2024 after acquiring the assets of Celsius Mining. Since 2025, it has been shifting away from pure-play Bitcoin mining and repositioning itself as an AI and high-performance computing, or HPC, infrastructure company.
At the center of that transition is a 234-megawatt data center site in Ward County, Texas. Originally developed for Bitcoin mining, the facility was leased in October 2025 to AI infrastructure company Nscale under a 126-month agreement. Ionic Digital said the contract is worth about $2 billion and could increase to as much as $2.6 billion if an additional 89 megawatts of capacity are secured.
The shift is beginning to show in the company’s results. Digital infrastructure leasing revenue totaled $44 million in the first quarter of 2026, while Bitcoin mining revenue fell 82% from a year earlier to $7.4 million.
Before filing for the listing, Ionic Digital completed a $400 million private stock sale on June 27. Chief Executive Officer Andy Stewart said the proceeds would be used to continue developing the company’s digital infrastructure assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.