EX-99.1

2 ionicdigitalq32026ex991.htm

EX-99.1

Document

Exhibit 99.1

Ionic Digital Announces Third Quarter 2026 Results

Received provisional Batch Zero Baseload Pathway (b) classification from ERCOT in September 2026 for 466 gross MW large-load request

Management team with extensive data center experience, focused on monetizing remaining ~5001 gross MW near-term power pipeline

Backed by a flexible, debt-free balance sheet, ~$630M of liquidity, and cash-flowing Ward County site

WASHINGTON – November 4, 2026 – Ionic Digital Inc. (Nasdaq: IOND) (“Ionic Digital” or the “Company”) today announced financial results for the third quarter ended September 30, 2026.

“In the third quarter, we made steady progress toward our priority of leasing the remaining capacity across our Ward County and Midland sites,” said Andy Stewart, Chief Executive Officer. “Customer interest built across our portfolio during the quarter, reflecting the value the market places on near-term power at a time when many projects face uncertainty. Our 466 MW large-load request at Ward County received provisional Batch Zero Baseload Pathway (b) classification, which ERCOT reserves for projects that are not considered new because they have already achieved initial energization. We continue to expect energization in late 2027 as ERCOT completes its final classification process in December. We look forward to working with the new administration in Texas and continue to support responsible data center development that protects ratepayers and benefits our local communities.

“We believe our ability to offer significant grid power, together with our team’s experience developing, constructing, and contracting data centers, provides us a compelling opportunity to generate attractive risk-adjusted returns. As we evaluate potential leases, whether turnkey or powered shell, we are prioritizing high-quality counterparties and terms that support a prudent capital structure. Looking ahead, I am excited about the opportunity for Ionic Digital to deliver long-term value as data center customers place a greater premium on power certainty, execution capability, and financial strength.”

Third Quarter 2026 Key Results

•Total revenue was $49 million, an increase of 32% year-over-year, with digital infrastructure leasing revenue representing approximately 90% of total revenue.

•Gross profit (loss) was $39 million, compared to $(7) million in the prior year period. Adjusted gross profit was $44 million, compared to $11 million in the prior year period, driven by revenue mix shift from cryptocurrency mining to digital infrastructure leasing.

•Net income was $17 million, which includes a $73 million non-cash gain on fair value of cryptocurrency, offset by a $66 million non-cash charge related to an increase in the fair value of warrants issued in June 2026.

1Consists of 499 gross MW: (i) 377 gross MW of the 466 gross MW of provisional Baseload capacity at our Ward County site, expected to energize in late 2027, subject to remaining regulatory approvals and completion of utility infrastructure projects; (ii) 112 gross MW across our Midland sites, which are energized; and (iii) additional 10 gross MW at one of our Midland sites, expected to energize in 2027. Excludes the remaining 89 gross MW at our Ward County site, which is already under contract and therefore not available for new customers.

•Adjusted EBITDA was $35 million, compared to less than $1 million in the prior year period, due to the shift of the Company’s operations to higher-margin digital infrastructure leasing.

•Capital Expenditures were $7 million, primarily related to equipment for the ongoing expansion of the Company’s substation at the Ward County campus.

Liquidity

As of September 30, 2026, Ionic Digital had on hand $381 million in cash and cash equivalents and 2,954 bitcoin valued at $247 million at that date. The Company had no outstanding borrowings as of September 30, 2026.

“Our third quarter results were in line with our expectations, including $44 million of digital infrastructure leasing revenue, or $7 million on a cash basis, with cash rent continuing to ramp through February 2028,” said Chris Hickman, Chief Financial Officer. “We ended the quarter with approximately $630 million of liquidity and no debt. Since the end of the quarter, we have sold approximately 25% of our bitcoin for approximately $62 million in cash, ahead of our expected development ramp next year. Given the capital needs to develop AI infrastructure and data centers, we believe we are well positioned with our Nscale lease supported by Microsoft demand and a guarantee from Nvidia, and a strong balance sheet that gives us clear visibility to funding the development of our existing sites.”

2026 Outlook

Ionic Digital is reaffirming its full-year 2026 outlook. Given year-to-date results, the Company expects cryptocurrency mining revenue to meet or exceed the mid-point of its range below.

Outlook

($ in millions

EX-99.1

2 ionicdigiex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

Ionic Digital Provides Financial Outlook

Company Expects Full Year Total Revenue of $190 Million to $195 Million

WASHINGTON

– July 21, 2026 – Ionic Digital Inc. (“Ionic Digital” or the “Company”), a digital infrastructure company supporting the expanding needs of AI and high-performance computing (HPC), today announced its financial expectations for the second quarter ended June 30, 2026 and full-year outlook for the year ending December 31, 2026:

Company Expectation Company Outlook

($ in millions except percentages) Three

Months

Ended

June 30,

2026

Twelve

Months

Ending

December 31,

2026

Total Revenue $47.5 - $48.5 $190 - $195

% Digital infrastructure leasing revenue 92% - 90% 92% - 90%

Adjusted EBITDA $36.0 - $37.0 $137.5 - $142.5

Capital Expenditures (1) $5.5 - $6.5 $45 - $60

(1)excludes potential capital expenditures for new site acquisitions

Non-GAAP Measure

Adjusted EBITDA is a non-GAAP measure. We define

Adjusted EBITDA as net income (loss) before interest, taxes, depreciation, and amortization, further adjusted for certain non-recurring or infrequent items, including realized and unrealized gains and losses on digital assets, unrealized gains or losses on energy derivatives and other investments, one-time gains or losses on litigation settlements, share-based compensation expense, impairment charges on intangible and long-lived assets, costs related to the decommissioning of cryptocurrency mining sites, and other infrequent costs.

We use Adjusted EBITDA to evaluate operating performance, allocate resources, and make strategic decisions, including assessing progress on our transition from Bitcoin mining to digital infrastructure leasing. Adjusted EBITDA is used in internal forecasting and budgeting, in evaluating treasury management decisions, and in board-level discussions regarding capital structure, liquidity, and our ability to fund growth initiatives.

Our exclusion of realized and unrealized gains and losses on digital assets from Adjusted EBITDA does not reverse or modify GAAP recognition and measurement principles. We exclude these amounts because they primarily reflect Bitcoin market price fluctuations and treasury management decisions. We view our Bitcoin holdings primarily as investments used to support liquidity and growth initiatives, rather than as components of our operations. Core operating performance is driven by factors such as hashrate performance, energy costs, miner efficiency, uptime, and revenues from digital infrastructure leasing activities. We include digital assets received as revenue at the market price on the date of receipt, as this reflects value realized from core business activities. Decisions to hold or liquidate these assets are investment decisions, distinct from operating performance.

We present Adjusted EBITDA because we believe it provides useful information to investors and analysts in assessing our financial performance. In particular, the exclusion of realized and unrealized gains and losses on digital assets allows investors to evaluate operating performance on a basis more consistent with management’s view of our core business as we execute our strategic transition.

Net income (loss) is the GAAP measure most directly comparable to Adjusted EBITDA. This non-GAAP measure should not be considered as an alternative to GAAP measures. We encourage you to evaluate each adjustment and the reasons management considers them appropriate. We may incur similar or unusual items in the future that could affect Adjusted EBITDA, and our presentation should not be construed as an inference that future results will be unaffected by such items. There can be no assurance that we will not modify the presentation of Adjusted EBITDA in the future, and any modification may be material. Adjusted EBITDA has important limitations as an analytical tool and should not be considered in isolation or as a substitute for GAAP results. It may be defined differently by other companies, limiting comparability.

In the table below, we reconcile our preliminary estimates of Net loss to Adjusted EBITDA.

Our taxes for the year ending December 31, 2026 cannot be reasonably predicted, and do not necessarily correlate to the performance or operation of our business. Accordingly, we have not reconciled our estimated Adjusted EBITDA outlook to its most directly comparable GAAP measure, as it is not available without unreasonable effort.

Three Months Ended

$ in 000s June 30, 2026

Net loss $(35,000) to $(34,000)

Interest income (185) to (175)

Provision from income taxes 26,500 to 27,500

Depreciation 4,800 to 5,000

Amortization 5 to 5

Share-based compensation expense

9,800 to 10,000

(Gain) loss on fair value of cryptocurrency 27,500 to 28,500

Non-recurring legal expenses

1,350 to 1,300

Realized loss on the sale of property and equipment 830 to 860

Adjusted EBITDA $36,000 to $37,000

Forward Looking Statements

Th