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IONIC TM Ionic Digital Announces Second Quarter 2026 Results August 19 , 2026 Cash payment commenced in August 2026 for 234 megawatts ( MW ) of operating capacity at Ward County campus Progressing substation upgrades and pre - development work to expand capacity to 700 MW at Ward County campus Substantial liquidity and no outstanding borrowings WASHINGTON , Aug. 19 , 2026 ( GLOBE NEWSWIRE ) -- Ionic Digital Inc. ( Nasdaq : IOND ) ( " Ionic Digital " or the " Company " ) today announced financial results for the second quarter ended June 30 , 2026 . " Our first earnings report as a public company follows energization of the first data center at our Ward County campus and the completion of our direct listing on Nasdaq on July 28 , 2026 , " said Andy Stewart , Ionic Digital's Chief Executive Officer . " Digital infrastructure leasing represented 90 % of second quarter revenue , compared with none in the prior - year period , marking our transition from a bitcoin miner to an HPC and Al infrastructure company . " Our focus now turns to growth within the footprint we already control . At Ward County , 234 MW of existing capacity is contracted , and we are progressing the substation upgrades and pre - development work as planned to support expansion of the campus to 700 MW by the end of 2027 , subject to ERCOT approval and completion of two utility infrastructure projects which are under construction . At Midland , we are working to convert 112 MW of existing capacity into data centers purpose - built for Al workloads , while those sites continue to mine bitcoin profitably . Beyond our current footprint , we are targeting metro - scale sites closer to the enterprise , where we believe the next wave of inference and agentic demand will be served . " Second Quarter 2026 Key Results • Total revenue was $ 48.6 million , an increase of 31 % year - over - year , and comprised of 90 % digital infrastructure leasing revenue . • Gross Profit was $ 40.5 million and Adjusted Gross Profit was $ 45.4 million , compared to $ 14.9 million in the prior year period , driven by revenue mix shift from cryptocurrency mining to digital infrastructure leasing . • Net loss was $ 35.3 million , which includes $ 28.2 million non - cash loss on fair value of cryptocurrency and $ 27.2 million Provision for Income Taxes . • Adjusted EBITDA was $ 37.6 million , compared to $ 3.8 million in the prior year period , due to revenue recognition of the Ward County lease . • Capital Expenditures were $ 5.8 million primarily related to equipment for the ongoing expansion of the Company's substation at the Ward County campus . Ward County Expansion and Electric Reliability Council of Texas ( ERCOT ) Update Ionic Digital's Ward County campus has been energized and operating since 2023 , and the capacity to expand the campus to 700 MW was contracted with the Company's interconnecting utility in 2021 , with the initial 234 MW phase of the project approved by ERCOT in 2022. Ionic Digital's request for the incremental 466 MW advances that long - standing agreement rather than seeking a new interconnection , and we believe the site's existing energization satisfies the definition for Base Load under ERCOT's planning criteria . The Company has executed its Engineering , Procurement , and Construction ( EPC ) contract and ordered the long lead - time transformers the expansion requires . Energization is expected by the end of 2027 and remains subject to ERCOT approval and completion of two utility infrastructure projects which are under construction . Ionic Digital supports Governor Abbott's efforts to promote responsible data center development in Texas and has committed to comply with applicable state requirements and to participate fully in the Public Utility Commission of Texas ( PUCT ) and ERCOT verification and audit process . The Company continues to work with ERCOT and the appropriate utilities regarding the remaining capacity associated with its energized facility . Liquidity As of June 30 , 2026 , Ionic Digital had on hand $ 415.7 million in cash and cash equivalents and 2,882 bitcoin valued at $ 168.7 million at that date . The Company had no outstanding borrowings as of June 30 , 2026 . 2026 Outlook