Bitcoin mining company Ionic Digital reported a 32% year-on-year increase in revenue for the third quarter

According to TheEnergyMag, Ionic Digital, which has transformed from a Bitcoin mining company to a data center operator, announced its third-quarter performance, with total revenue increasing by 32% year-on-year to $48.9 million. Among this, digital infrastructure leasing revenue was approximately $43.9 million, accounting for nearly 90% of total revenue; mining revenue fell from $37.1 million in the same period last year to about $5.1 million, a decrease of 86%. Adjusted EBITDA was about $35 million, compared to $154,000 in the same period last year.

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