Ionic Digital Inc., a bitcoin mining firm restructured from Celsius Mining, has confidentially submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for a potential initial public offering (IPO). The company, which rebranded in early 2024, reported a net profit of $40.1 million and $138.4 million in bitcoin mining revenue for the 11 months ending December 31, 2024. Ionic Digital's financials also include an adjusted EBITDA of $85 million and holdings of $271.8 million in cash and Bitcoin, equivalent to 2,393 BTC. The IPO filing comes amid a strategic lease agreement in Texas with AI cloud provider Nscale, which has a significant $14 billion computing deal with Microsoft, reflecting broader industry trends.