Ionic Digital Unleashes Ambitious Expansion Plans as North America’s Premier Bitcoin Miner

AUSTIN, Texas – 03/02/2024 – (SeaPRwire) – Ionic Digital, the newly established bitcoin mining powerhouse in North America and an emerging force in energy monetization, made a groundbreaking announcement today regarding its strategic expansion. Through a deal with Celsius Mining LLC, Ionic Digital is set to acquire an impressive fleet of approximately 127,000 bitcoin mining machines and infrastructure, boasting 87 megawatts (MW) of self-mining capacity across four existing facilities. Additionally, it secures 142 MW of capacity for hosted bitcoin mining at third-party sites and is developing the Cedarvale site, aiming for a staggering capacity of 240 MW. With this robust fleet, Ionic Digital anticipates reaching a hash rate of 12.7 exahash per second (EH/s), solidifying its position as one of the leading players in North America dedicated to securing the Bitcoin network.

CEO Matt Prusak expressed, “Ionic Digital, equipped with a substantial mining fleet, strategic infrastructure managed in partnership with Hut 8, and a seasoned leadership team, is poised to emerge as a top-tier bitcoin miner. Our commitment revolves around transparency and acting in the best interests of our shareholders. We’re driven to convert energy into value reliably and responsibly.”

Strategically locating its mining sites primarily in Texas, Ionic Digital capitalizes on the state’s favorable regulatory environment and robust energy market. The company emphasizes plans to implement energy-efficient strategies aligned with the Electric Reliability Council of Texas (ERCOT) standards, actively participating in energy management programs to curtail costs.

Mr. Prusak continued, “Our deep commitment extends beyond mining operations to community engagement and local employment. We’re committed to supporting grid resiliency and are fully prepared to adjust our power consumption in collaboration with partners like ERCOT. This adaptability not only ensures grid stability but also underscores our commitment to being a responsible and responsive participant in our communities’ energy ecosystem.”

Under the leadership of Mr. Prusak, a seasoned industry veteran, and Joel Block, Chief Financial Officer, Ionic Digital is set to forge impactful partnerships in both the crypto and energy sectors. Mr. Block, with over 15 years of diverse financial experience, emphasized the company’s financial strategy focused on navigating the complexities of the digital asset landscape.

Mr. Block remarked, “At Ionic Digital, our financial strategy revolves around leveraging our assets for the benefit of our shareholders. We’re focused on maintaining operational agility in a dynamic market, prudently allocating capital, and vigilantly managing operational expenditures. This approach ensures economic resilience and sets new standards in financial acumen and sustainable business expansion within the bitcoin mining industry.”

With a solid balance sheet and expert management, Ionic Digital positions itself to execute a growth strategy in bitcoin mining while remaining agile for potential infrastructure repurposing to support high-performance computing in the future.

About Ionic Digital

Ionic Digital emerges as North America’s leading bitcoin miner and a pioneer in energy monetization. With a presence across North America, Ionic is gearing up to deploy up to 12.7 exahash to the Bitcoin Network. For more information, visit ionicdigital.com and follow on Twitter at @IonicDigital.

SOURCE Ionic Digital

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