Bitcoin miner-grew to grow to be-AI infrastructure firm Ionic Digital has filed for a Nasdaq enlighten itemizing that will maybe maybe give outdated faculty Celsius creditors a public market for shares they got thru the bankrupt lender’s restructuring.
Registered stockholders could maybe sell as a lot as 10.8 million Class A shares below the proposed IOND ticker, in accordance to a registration voice filed with the US Securities and Trade Commission on Monday.
Ionic became fashioned in 2024 to impress Celsius Mining’s sources thru the bankrupt lender’s restructuring. Within the filing, Ionic acknowledged it began repositioning itself in 2025 from a pure-play Bitcoin miner correct into a broader digital infrastructure firm serving man made intelligence and excessive-efficiency computing (HPC) workloads.
The proposed enlighten Nasdaq itemizing will no longer elevate unusual capital for Ionic, in line with the filing. As a replacement, the itemizing will set a public market for existing shareholders, in conjunction with outdated faculty Celsius creditors who got Ionic shares thru the monetary disaster belief.
Ionic repurposes Bitcoin mining position for AI
Ionic’s AI pivot revolves spherical its 234-megawatt Ward County property in Texas, before all the pieces developed for Bitcoin mining. In October 2025, the firm leased the positioning to AI infrastructure provider Nscale below a 126-month agreement representing nearly $2 billion in gotten smaller earnings.
Ionic acknowledged the agreement could very successfully be expanded to consist of a further 89 MW if the firm secures the required capability and approvals. This doubtlessly will increase its gotten smaller earnings to about $2.6 billion, in line with the firm.
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The shift has began to appear in Ionic’s monetary outcomes. The firm recorded $44 million in digital infrastructure leasing earnings within the first quarter of 2026, whereas Bitcoin mining earnings fell 82% year over year to $7.4 million because it repurposed Ward County and diminished the series of inviting miners, in line with its SEC filing on Monday.
Ionic Digital’s reported earnings. Supply: SEC filing
The filing follows Ionic’s completion of a $400 million equity non-public placement on Friday. Ionic acknowledged the proceeds would be extinct for overall company purposes, whereas its CEO, Andy Stewart, acknowledged the funds would toughen the persisted pattern of its digital infrastructure sources.
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