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Ionic Digital Reports $40.1 Million Net Income for 2024

The firm closed the year with over 2,393 bitcoins worth $271.8 million and $138.4 million in Bitcoin mining revenue.

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Summary

Ionic Digital posted a net income of $40.1 million for 2024. As of year-end, the company held 2,393.4 bitcoins valued at $271.8 million. The firm generated $138.4 million in Bitcoin mining revenue over the year.

Terms & Concepts
  • Bitcoin Mining: The process of validating Bitcoin transactions and adding them to the blockchain, rewarded with newly minted bitcoins and transaction fees.
  • Net Income: The total profit of a company after all expenses, taxes, and costs have been deducted from total revenue.
  • Bitcoin Holdings: The quantity of Bitcoin owned by an individual or entity, which can be valued based on current market prices.