Ionic Digital Secures Transformational Lease Agreement of Cedarvale Facility with Nscale

Lease Agreement Diversifies Operations and Establishes Ionic Digital as an Emerging Energy Infrastructure Provider

Agreement Expected to Strengthen Operating Margins and Advance Long-Term BTC HODL Strategy

AUSTIN, Texas--(BUSINESS WIRE)--Ionic Digital Inc. (“Ionic Digital” or the “Company”), a digital infrastructure and cryptocurrency mining company, today announced a landmark lease agreement (the “Agreement”) with Nscale, a vertically integrated AI cloud provider, for Ionic Digital’s Cedarvale facility in Barstow, Texas (“Cedarvale”). The transformational agreement positions Ionic Digital as an emerging innovator at the intersection of energy, Bitcoin mining, and advanced compute infrastructure.

Under the general terms of the Agreement, Nscale will lease the full 234 MW capacity of the facility to support its partnerships with global technology platforms that anchor the modern computing and AI ecosystem. For more information on the lease and related partnerships, please see Nscale’s announcement.

The Agreement is structured as a 10-year, triple-net lease with total contracted revenues of approximately $2 billion, which is expected to provide predictable cash flows while minimizing operating risk, allowing the Company to maintain its zero-debt position, strengthen its financial foundation, diversify operations, and monetize its energy and infrastructure assets while continuing to mine Bitcoin.

“This agreement demonstrates the strength of Ionic Digital’s infrastructure and our ability to facilitate opportunities for the top players in AI and high-power computing,” said Anthony McKiernan, Interim CEO of Ionic Digital. “By monetizing our energy assets, we are generating revenue independently of our Bitcoin mining operations while maintaining our zero-debt position, ultimately, increasing our HODL potential and positioning the Company for sustainable growth in both Bitcoin mining and next-generation compute markets, as we remain focused on maximizing value for our shareholders. With top industry players utilizing Cedarvale’s scale and reliability to support advanced compute workloads, the Agreement underscores the adaptability of Ionic Digital’s facilities for high-performance applications.”

“This agreement with Ionic Digital marks a major step in advancing Nscale’s global AI infrastructure network,” said Josh Payne, Founder and CEO of Nscale. “Cedarvale’s scale, efficiency, and location make it ideal for advanced AI workloads, strengthening our ability to deliver sustainable, high-performance compute for our enterprise customers.”

The cash flows generated from the Agreement will support Ionic’s fleet upgrades, ongoing operational optimization, and fund potential expansion opportunities at Cedarvale and beyond. The Company intends to repurpose a majority of its Cedarvale mining fleet to its Midland, Texas facility.

About Ionic Digital

Ionic Digital is a digital infrastructure and cryptocurrency mining company. We are an established Bitcoin miner, developing practical and innovative approaches to energy monetization. With facilities across the United States, we focus on delivering the next generation of energy-efficient, cost-effective computing through sustainable Bitcoin mining while supporting grid flexibility by adapting operations to changing energy demand. Follow us on X @IonicDigital.

About Nscale

Nscale is the global hyperscaler engineered for sovereign-grade AI infrastructure, delivering compute to the generative AI market at scale. Through its fully vertically integrated suite of AI solutions and GW+ greenfield data centres across Europe and North America, Nscale enables customers to run efficient and scalable AI training, fine-tuning, and inferencing workloads.