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Bitcoin Miner Ionic Digital Plans IPO

Bitcoin (BTC) mining company Ionic Digital is preparing to list its shares in an upcoming initial public offering (IPO).

The company, best known for buying the Bitcoin mining assets of bankrupt digital lender Celsius, has hired John Penver as its new chief financial officer (CFO) and given him a mandate to oversee an upcoming IPO.

Penver has nearly 20 years of data centre technology and cryptocurrency experience, said Ionic Digital in a written statement.

"As CFO, Mr. Penver will focus on driving the (public) listing process for Ionic Digital…” reads the statement.

Several private crypto mining companies are planning to go public later this year after Bitcoin’s price hit a record high in March of this year.

Miners that are also considering an IPO in coming months include Swan Bitcoin, Genesis Digital Assets, and two of Northern Data's business units.

Ionic is led by Matt Prusak, the former chief commercial officer of Bitcoin miner Hut 8 (HUT).

Earlier this year, Ionic Digital acquired all of Celsius' mining assets as part of that bankrupt lender's emergence from Chapter 11.

This past February, Ionic Digital said that it plans to go public within the next 12 months.

The price of Bitcoin has gained 30% this year and is currently trading at $57,300 U.S.