Ionic Digital's Q3 Revenue Rises 32% YoY, AI Data Center Leasing Becomes Main Revenue Source

Nov. 5 – According to TheEnergyMag, Ionic Digital, a Bitcoin miner that has pivoted to data center operations, reported third-quarter results, with total revenue up 32% year-over-year to $48.9 million. Digital infrastructure leasing revenue came to about $43.9 million, nearly 90% of total revenue; crypto mining revenue fell from $37.1 million a year earlier to about $5.1 million, a drop of 86%. As a result, adjusted EBITDA reached about $35 million, compared with just $154,000 in the year-earlier period.

Notably, although leasing revenue reached $43.9 million in the third quarter, actual cash rent received was only about $7 million. In addition, the company reiterated its full-year 2026 guidance, expecting total revenue of between $190 million and $195 million, and is seeking customers for nearly 500 megawatts of additional power capacity at its Texas properties.