Bitcoin mining company Ionic Digital completes $400 million private placement, has applied to list on Nasdaq.

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Deep Tide TechFlow update: On July 02, according to Bitcoin News, bitcoin mining firm Ionic Digital disclosed that it has completed a $400 million private placement. Financial data shows that the company recorded revenue of $51.4 million in the first quarter of this year, with its digital infrastructure leasing (AI/HPC) business contributing $44 million—surpassing revenue from its bitcoin mining business for the first time.

Ionic Digital said that it has converted its data centers for AI and high-performance computing (HPC) infrastructure, and signed a 126-month long-term lease agreement with Nscale, corresponding to contract revenue of approximately $1.95 billion. If the newly added 89MW capacity is approved in the future and put into operation, total contract revenue is expected to rise to about $2.6 billion. At the same time, Ionic Digital is continuing to reduce its bitcoin mining business. As of the end of March this year, it had approximately 120,600 mining machines, but only about 23,200 were in operation, and its total hashrate fell to 2.0 EH/s.

Previously, Ionic Digital had applied for a direct listing on Nasdaq, with the stock code “IOND”.

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