Ionic Digital Revives IPO Plans with Massive Bitcoin Reserves in Play

Ionic Digital has revived its IPO plans after appointing BDO USA as its auditor, aiming to enhance financial transparency and shareholder confidence.

The bitcoin mining company holds 2,102 BTC, valued at $135.3 million as of September 2024, and plans to sell part of its holdings to fund infrastructure expansion. It recently energized a second facility in Texas, adding 15,552 miners and increasing its load to 140 megawatts, with two more buildings under construction.

This move comes as mining firms, facing higher operational costs and reduced rewards due to Bitcoin’s halving, focus on optimizing resources and balancing cash flow.

Clever Robot News Desk 22^th October 2024