Iond Leasing Revenue Surges as Net Loss Widens in Q2

Ionic Digital (IOND) has announced its second quarter results, showing a significant shift in revenue mix from cryptocurrency mining to digital infrastructure leasing.

The company's total revenue for Q2 was $48.6 million, up 31% year-over-year, with 90% coming from digital infrastructure leasing.

Although Ionic Digital reported a net loss of $35.3 million, its Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was $37.6 million, a significant improvement over the prior year period of $3.8 million.