Ionic Digital Files for Nasdaq Listing Amid Growing Demand for AI Data Centers
Ionic Digital, a company that develops and operates digital infrastructure while running bitcoin mining operations, has filed for a direct listing on the Nasdaq Global Select Market under the ticker IOND. The filing registers the resale of up to 10,800,164 shares of Class A common stock by existing shareholders.
The company's flagship Ward County, Texas campus has been leased under a 126-month triple-net agreement to Nscale for use as a hyperscale AI campus, with monthly fixed lease payments beginning in August 2026. The site has expansion potential to support up to roughly 700 MW and is expected to generate contracted revenues of approximately $1.95 billion, potentially rising to about $2.6 billion if an additional 89 MW is energized.
Ionic operates four Midland, Texas sites totaling 112 MW, which currently support bitcoin mining and are being evaluated for HPC/AI development. The company intends to monetize its powered land and substation assets through long-term leases that produce predictable cash flows, while maintaining bitcoin mining where profitable.