Ionic Digital Revenue Rises 32% as Leasing Leads Third-Quarter Results

Ionic Digital's third-quarter 2026 revenue rose 32% year over year to $48.9 million as digital infrastructure leasing supplied nearly 90% of sales, extending the company's shift from Bitcoin (BTC) mining.

Leasing revenue was $43.9 million. Bitcoin mining revenue fell 86% to $5.1 million. Ionic received about $7 million in cash rent during the quarter. Net income was $17.4 million, and adjusted EBITDA was about $35 million.

Leasing accounted for 90% of Ionic's $48.6 million in second-quarter revenue, making it the company's largest revenue stream in both quarters. Ionic held about $628 million in cash and Bitcoin, with no outstanding borrowings.

The company plans to offer potential customers about 499 megawatts of additional power capacity. The planned Ward County buildout could bring site capacity to 700 MW by late 2027, contingent on ERCOT approval and completion of two utility projects.