Bitcoin miner Ionic gets 90% of revenue from AI le
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Bitcoin miner Ionic gets 90% of revenue from AI lease as BTC drives $35M loss
Ionic Digital, a Bitcoin miner repositioning its power sites for AI infrastructure, generated 90% of its second-quarter revenue from leasing. Its Q2 accounts show an uneven transition: operating revenue has shifted away from mining faster than reported earnings have shifted away from Bitcoin.
The Ward County lease with AI infrastructure provider Nscale produced $43.8 million of Ionic's $48.6 million in Q2 revenue, while mining contributed $4.8 million, according to the company's second-quarter filing.
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