Ionic Digital seeks Nasdaq listing after $400 million private placement
The Bitcoin miner completed a $400 million equity raise at a $2 billion pre-money valuation, backed by Attestor, Oaktree, Sachem Head, Citadel and Weiss, while highlighting its asset base and infrastructure-leasing growth.
Bitcoin miner Ionic Digital applied for a Nasdaq direct listing under the ticker IOND after completing a $400 million equity private placement that implied a $2 billion pre-money valuation. The company said it sold about 7.55 million Series A convertible preferred shares at $53 each with three warrant tranches. Ionic reported first-quarter 2026 revenue of $51.4 million, including $44 million from digital infrastructure leasing and $7.4 million from Bitcoin mining, held about 2,815 Bitcoin, and said it had $554 million in assets and no debt. The financing was led by Attestor, Oaktree Capital Management and Sachem Head Capital Management, with Citadel and Weiss Asset Management also participating.
- direct listing: A stock market listing without the company raising capital through a traditional IPO.
- Series A convertible preferred shares: Preferred stock that can be converted into common shares under specified terms.
- pre-money valuation: Company value before new investment is added.