Ionic Digital Appoints Andy Stewart as Chief Executive Officer

Marking Ionic Digital's Next Phase of Growth, Innovation, and Value Creation

AUSTIN, Texas--(BUSINESS WIRE)--Following a unanimous vote, the Board of Directors (the “Board”) of Ionic Digital Inc. (“Ionic Digital” or the “Company”), a digital infrastructure company supporting the expanding needs of AI and high-performance computing, today announced the appointment of Andy Stewart as Chief Executive Officer (“CEO”), effective immediately. Stewart succeeds Anthony McKiernan, whose steady leadership as Interim CEO reinforced the Company’s foundation and supported its momentum for growth.

Stewart’s appointment reflects confidence in his nearly 25 years of executive experience in digital infrastructure. Most recently, as CEO of Evoque Data Center Solutions (“Evoque”), he successfully optimized the company’s portfolio of data centers and refocused sales on hyperscale, edge, and large enterprise deployments. With a demonstrated ability to unlock value through strategic repositioning and disciplined execution, Stewart transformed Evoque’s complex portfolio of assets into a high-performing platform and secured more than $300 million in new capital commitments to support future growth. His deep leadership and strategy experience, together with his current roles as Senior Advisor at Morgan Stanley Infrastructure Partners and Board Member at Flexential, uniquely positions him to accelerate Ionic Digital’s transformation and seek to deliver liquidity for shareholders during this period of generational disruption brought by AI.

“Andy’s success scaling data center platforms makes him the ideal leader for Ionic Digital at this critical juncture in AI infrastructure,” said Elizabeth LaPuma, Chair of the Board of Directors. "His expertise in optimizing complex infrastructure portfolios and securing capital for growth will be critical as we meet the surging demand from AI and hyperscale customers. The Board is confident he will unlock substantial value for shareholders."

“On behalf of the Board, I want to thank Anthony for his partnership and stewardship in guiding Ionic Digital through a critical period, including our successful transaction with Nscale,” added LaPuma.

Prior to Evoque, Stewart was a key executive at TierPoint. As Chief Financial Officer, he led 11 acquisitions and secured more than $2 billion in financing. He subsequently drove strategy, product development, and service delivery as the company's Chief Strategy Officer.

“I am excited to join Ionic Digital at this pivotal moment,” said Stewart. “Our position at the intersection of energy, infrastructure, and innovation gives us a powerful edge in this era of AI-driven disruption. We will shape how digital platforms create value through our strategy of developing powered land, advancing high-performance computing, and leveraging Bitcoin mining as a complementary monetization tool. My immediate priority is to build a world-class team capable of accelerating Ionic Digital’s growth and unlocking shareholder liquidity.”

Stewart began his career in New York at JP Morgan and later worked for American Express, Charter Communications, and Cequel III. He earned a BA from Denison University and holds an MBA from the Olin School of Business at Washington University in St. Louis.

About Ionic Digital

Ionic Digital Inc. is a digital infrastructure company that develops strategic powered land assets for data centers, high-performance computing (HPC), and cryptocurrency mining. Learn more at www.ionicdigital.com or follow us on X @IonicDigital.