Svmuu News Bitcoin Mining company Ionic Digital has filed for a direct listing on Nasdaq under the ticker symbol “IOND.” The company also disclosed that it has completed a $400 million private placement.Financial data shows that Ionic Digital generated $51.4 million in revenue in the first quarter of this year, with its digital infrastructure leasing (AI/HPC) business contributing $44 million—exceeding the $7.4 million generated by its Bitcoin mining operations for the first time.
Ionic Digital stated that it has repurposed its data centers for AI and high-performance computing (HPC) infrastructure and has signed a 126-month long-term lease agreement with Nscale, representing approximately $1.95 billion in contract revenue;If the planned 89 MW of additional capacity is approved and comes online, total contract revenue is expected to increase to approximately $2.6 billion.Meanwhile, Ionic Digital continues to scale back itsBitcoinmining operations. As of the end of March this year, it owned approximately 120,600 mining rigs, but only about 23,200 were operational, with total hash rate dropping to 2.0 EH/s. (Bitcoin News)