Ionic Digital Completes $400 Million Financing, Applies for Nasdaq Listing

According to Bitcoin News, Ionic Digital has completed a $400 million private financing round and has applied for a Nasdaq listing under the ticker symbol IOND. The company reported first-quarter revenue of $51.4 million, with $44 million coming from its AI/HPC business. Ionic Digital has signed a 126-month lease agreement with Nscale, with contract revenue estimated at approximately $1.95 billion. If an additional 89MW capacity is approved, total contract revenue is expected to increase to $2.6 billion. As of the end of March, Ionic Digital owned 120,600 mining machines, of which 23,200 were operational, with a total hash rate of 2.0 EH/s.