Ionic Digital Announces May 2025 Mining and Operations Update

AUSTIN, Texas--(BUSINESS WIRE)--Ionic Digital Inc. (“Ionic” or the “Company”), a digital infrastructure and cryptocurrency mining company, today issued its unaudited Mining and Operations Update for May 2025.

For the month of May, Ionic mined 132.90 Bitcoin (“BTC”) after hosting fees of 1.07 BTC, operating at a Daily Average Hash Rate of 8.24 (EH/s), and achieving an Efficiency of 30.4 (J/THs). Despite a 1.64% decrease in BTC production from April, stemming from a rise in network difficulty, partially offset by an extra operating day in the period, Ionic has continued to enhance its operational performance – reflecting the Company’s focus on optimizing fleet efficiency and uptime. Consistent with the Company’s commitment to diligent cash and risk management, Ionic continues to maintain its zero-debt position and advance its HODL strategy, while strategically monetizing a portion of its mined BTC to maintain a robust liquidity position. The Company sold 97 BTC at an average price of $101,207 per coin, generating net proceeds of $9,817,079, and held 2,520.2 BTC on its balance sheet as of May 31, 2025, an increase of 1.44% over the prior month. For our owned sites, the average cost of electricity for the trailing 6-month period ended April 30, 2025, was 3.79 cents per kWh without curtailment credits, and 3.14 cents per kWh with the curtailment credits factored in. Within that total, Cedarvale's trailing six-month average ended April 30, 2025, was 3.59 cents per kWh without curtailment credits and 2.94 cents per kWh with the curtailment credits factored in.

Looking ahead, the Company remains focused on advancing its 2025 strategic initiatives with momentum with the goal of providing value maximizing liquidity solutions for stockholders. Ionic intends to keep stockholders updated regarding its exploration of stockholder liquidity solutions, pursuant to applicable securities law. Certain filings may be required to be confidential at the outset.

The Company, along with its independent auditor BDO, is finalizing its FY 2024 audit. The Company intends on releasing earnings as follows with the goal of adopting a public company earnings release schedule:

1. Mining and Operating Metrics Summary: The key metrics disclosed in the mining and operating metrics summary are unaudited
2. Capacity: Total capacity at hosted and directly owned sites as of May 31, 2025
3. BTC Mined: After hosting fees of 1.07 BTC
4. Average BTC Mined/Day: Average BTC/Day in prior month was 4.51
5. Daily Average Hash Rate: The reported Hash Rate is derived from internal performance data. Hash Rate values reflect miner downtime and voluntary curtailment
6. Efficiency: Represents the capabilities of 119,049 active miners during the reporting period
7. BTC Sold: For an average net price of $101,207 per BTC
8. Total BTC Holdings: At the end of prior month was 2,484.3 BTC

About Ionic Digital

Ionic Digital is a prominent Bitcoin miner and emerging innovator in energy monetization. With facilities across the United States and more than 110,000 active miners, Ionic expects to drive the next generation of energy efficient, low-cost computing through sustainable Bitcoin mining. For more information, visit ionicdigital.com and follow us on X at @IonicDigital.