Ionic Digital Acquires Celsius Mining Assets, Targets Market Leadership Via Public Listing
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Ionic Digital Acquires Celsius Mining Assets, Targets Market Leadership Via Public Listing

  • Ionic Digital is set to acquire Celsius’ bitcoin mining assets and aims for a significant mining capacity of 12.7 EH/s, positioning itself as a major North American miner.
  • The company is also gearing up for a public listing, with a strategic partnership with Hut 8 for mining management, enhancing its operational strength and market presence.

Ionic Digital is poised to make a significant impact in the North American bitcoin mining industry as it acquires the mining assets of the bankrupt lender, Celsius, and prepares for a public listing.

With an ambitious plan to hit a mining capacity of 12.7 exahash per second (EH/s), the company is gearing up to become a formidable player in the competitive mining landscape.

See Also: Celsius Network Turns To Bitcoin Mining to Resolve Bankruptcy and Repay Customers

Acquiring Assets And Expanding Capacity

Ionic Digital’s strategic acquisition includes approximately 87 megawatts (MW) of self-mining capacity and 142MW of hosted bitcoin mining at third-party sites from Celsius. 

Furthermore, the inclusion of the Cedarvale site, which is under development to reach a capacity of 240MW, signifies Ionic’s commitment to expanding its mining operations significantly. 

Currently operating at about 6 exahash per second (EH/s), Ionic is on a fast track to more than double its capacity to 12.7 EH/s once its fleets are fully operational within the year.

Ionic Digital has embarked on a significant journey to transition into a publicly-traded entity. 

The initial phase of this transformational strategy was set into motion with the company’s recent submission of Form-10 to the U.S. Securities and Exchange Commission (SEC) on January 26.

However, this initiative transcends the conventional route of going public. 

The company is charting a unique path by weaving a strategic partnership with the creditors of Celsius. 

In a novel approach to corporate restructuring and stakeholder engagement, the company is offering these creditors an opportunity to partake in its growth trajectory. 

See Also: Celsius To Unstake Thousands Of ETH, Will This Ease ETH Selling Pressure?

By allocating common stock as a form of equity, Ionic Digital is not just opening its doors to new investments but is also fostering a collaborative ecosystem where the creditors become an integral part of the company’s evolving story and future successes.

Ionic Digital Navigating Competition And Ensuring Robust Operations

As the bitcoin halving event looms, promising to slash mining rewards by half, Ionic Digital is gearing up to face stiff competition. 

The company is not alone in its pursuit to go public, with entities like Swan Bitcoin’s mining business unit also announcing similar intentions. 

However, Ionic is confident in its preparedness to tackle the growing competition by leveraging its flexibility and robust financial backing.

Ionic Digital has fortified its market position through a strategic alliance with Hut 8 (HUT), which has recently merged with US Bitcoin Corp. (USBTC).

The collaboration entrusts Hut 8 with the management of Ionic’s mining operations, ensuring efficiency and expertise in their mining endeavors. 

The partnership not only signifies a pivotal operational shift but also promises substantial financial benefits for Hut 8, projecting an annual revenue exceeding $20 million, complemented by an allocation of restricted stock and incentive equity, marking a significant milestone in their collaborative journey.


Ionic Digital’s acquisition of Celsius’ mining assets and its aggressive expansion plan reflect the company’s ambition to cement its position as a leading force in the bitcoin mining industry. 

With a significant increase in mining capacity, a strategic path to going public, and robust operational partnerships, Ionic Digital is gearing up to navigate the competitive mining landscape and emerge as a top contender in the North American market. 

As the industry anticipates the bitcoin halving event and its implications, all eyes will be on Ionic Digital’s next moves in the high-stakes domain.

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