Ionic Digital Q2 Revenue Up 31% YoY, AI Leasing Replaces Bitcoin Mining as Core Business

August 20 news, according to The Energy Mag, Bitcoin miner Ionic Digital, which has pivoted to AI infrastructure, released its first post-listing earnings report. Q2 revenue rose 31% year-over-year to $48.6 million, with AI infrastructure leasing contributing $43.8 million (90% of total), while Bitcoin mining revenue fell from $37.2 million to $4.8 million. Adjusted EBITDA increased from $3.8 million to $37.6 million. The company posted a net loss of $35.3 million, primarily due to a $28.2 million non-cash loss from changes in the fair value of crypto assets. Ionic held $415.7 million in cash and 2,882 BTC (valued at $168.7 million) at quarter-end, with no outstanding borrowings. Ionic listed directly on Nasdaq on July 28.