Ionic Digital Revenue Jumps 31% as AI Leasing Takes the Lead

Ionic Digital reported strong second-quarter revenue of $48.6 million, a 31% increase from the same period last year.

The company's digital infrastructure leasing business supplied 90% of total revenue, with a significant jump from no revenue in the prior year.

The results also included a net loss of $35.3 million for the quarter, which included a non-cash fair-value loss on Bitcoin holdings and an income tax provision.

Ionic's Ward County campus in Texas is now generating revenue after the first data center reached energization, with 234 megawatts under contract. The company plans to expand the site to 700 megawatts by the end of 2027.