Bitcoin Miner Ionic Digital Hires CFO to Shepherd IPO
Ionic’s CEO Matt Prusak (Ionic Digital)
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Ionic’s CEO Matt Prusak (Ionic Digital)
Private equity firms are now looking at bitcoin miners in a much more different way after Core Scientific signed 200MW deal with CoreWeave in June, the company’s CEO said in an exclusive interview with CoinDesk.
Bitcoin miners are showing signs of capitulation, an event that is typically tied to a market bottom following a 13% decline over the past 30-days.
The deal will be all-stock based and has been approved by both companies’ board members.
The miner has mined 93 million worth of KAS tokens since Sept. 2023.
The funding came from Coatue Management, which is also an investor in CoreWeave, a cloud-computing firm looking to take over miner Core Scientific.
Riot is Bitfarms’ largest shareholder, owning 14.9% of the firm.
Iris Energy is best positioned to take advantage of the HPC/AI opportunity, the report said.
Hashrate for Bitcoin network typically becomes flat or declines during North American summer time, industry experts say.
The company revealed that its also running Bitcoin and Lightning network nodes.