For Ionic Digital Inc. (IOND), Sachem Head Capital Management LP, Uncas GP LLC and Scott D. Ferguson each report shared beneficial ownership of 4,500,125 Class A shares (9.99%); Sachem Head GP LLC reports 3,180,125 shares (7.1%). The 4,500,125-share amount includes 4,450,000 shares held by the Sachem Head Funds and 50,125 shares issuable on warrants; 855,533 additional warrant shares are excluded under the Ownership Limitation.
On June 26, 2026, the Funds paid approximately $120 million for 2,264,150 Series A preferred shares and warrants to purchase 905,658 common shares; the preferred shares converted one-for-one on July 28, 2026. The Funds also acquired 2,185,850 shares in open-market transactions for approximately $142.2 million, excluding brokerage commissions.
The warrants have three tranches of 301,886 shares each, with exercise prices of $63.60, $74.20 and $87.45, and are exercisable until June 26, 2031, subject to a 9.99% ownership limit. A lock-up restricts transfers of specified securities until 180 days after July 28, 2026, with an exception for sales above $70.00 per share that releases a pro rata portion of warrants. The Funds also report cash-settled swaps referencing 1,500,000 shares and intend discussions with Ionic Digital’s management and board.
Ionic Digital Inc.'s amended ownership disclosure lists positions reported by Sachem Head Capital Management LP, Uncas GP LLC, Sachem Head GP LLC and Scott D. Ferguson. As of September 30, 2026, the Sachem Head Funds held 4,450,000 Class A shares and warrants to purchase 905,658 shares.
The 9.99% ownership limit means 50,125 warrant shares are included in reported positions. The aggregate disclosure excludes 855,533 warrant shares; Sachem Head GP LLC's reported position excludes 587,975 shares issuable under warrants held by SH and SHM. Sachem Head Capital Management LP, Uncas GP LLC and Scott D. Ferguson each reported beneficial ownership of 4,500,125 shares, or 9.99%; Sachem Head GP LLC reported 3,180,125 shares, or 7.1%. The percentages use 44,996,175 shares outstanding as of August 25, 2026, plus 50,125 warrant shares. The reporting persons state that the disclosure is not an admission of beneficial ownership.
Richard M. Carson, Ionic Digital Inc.’s General Counsel, acquired 46,545 performance-vesting restricted stock units (PRSUs) after the compensation committee certified that the $2.5 billion average daily weighted stock price threshold had been achieved on September 29, 2026. The units are scheduled to vest on March 25, 2027, subject to continued employment and the award terms. His reported share position following the transaction was 93,090 shares; separately, 93,091 PRSUs remain outstanding and may be earned if performance conditions are met.
Ionic Digital Inc. reported that Chief Development Officer Mark Lambourne earned 46,717 performance-vesting restricted stock units (PRSUs) after the compensation committee certified achievement of the $2.5 billion threshold, based on the average daily weighted stock price and the award agreement’s valuation methodology. The PRSUs are scheduled to vest on March 25, 2027, subject to continued employment and the award terms, as amended. The transaction row reports 93,435 shares held directly following the transaction; separately, 93,436 PRSUs remain outstanding and may be earned upon achievement of the applicable performance conditions.
Ionic Digital Inc. Chief Financial Officer Chris Hickman earned 70,076 performance-vesting restricted stock units (PRSUs) on September 29, 2026, after the compensation committee certified that the $2.5 billion threshold had been achieved.
The PRSUs are scheduled to vest on March 25, 2027, subject to continued employment and the award terms. The 2026 grant was for 210,230 PRSUs; 140,154 remain outstanding and may be earned if the applicable performance conditions are met.
Ionic Digital Inc. (IOND) reported that Chief Strategy Officer Antonio Piraino acquired 32,711 performance-vesting restricted stock units (PRSUs) on September 29, 2026, after the compensation committee certified achievement of the $2.5 billion threshold. Each PRSU represents a contingent right to receive one share of Class A common stock. The units are scheduled to vest March 25, 2027, subject to continued employment and award terms; 65,424 PRSUs remain outstanding and may be earned upon applicable performance conditions.
Ionic Digital Inc. (IOND) reported that CEO and director Andy Stewart earned 186,875 performance-vesting restricted stock units (PRSUs) after its compensation committee certified on September 29, 2026, that the $2.5 billion threshold had been achieved under the award’s stock-price and valuation methodology. The units are scheduled to vest on March 25, 2027, subject to his continued employment and the award terms; 373,750 PRSUs remain outstanding and may be earned upon applicable performance conditions.
Ionic Digital Inc. (IOND) reported that the Electric Reliability Council of Texas (ERCOT) has provisionally classified the company’s remaining 466 megawatt energization request for its Ward County campus as Base Load within ERCOT’s Batch Zero process. This remaining tranche, if energized, would bring the Ward County campus to a total aggregate demand of 700 MW.
The company continues to target energization of this final 466 MW tranche by the end of 2027. The classification remains provisional and is subject to ERCOT’s verification, audit process and final determination, with oversight by the Public Utility Commission of Texas. Ionic Digital describes itself as a provider of high-performance computing and data center infrastructure for AI workloads.
Ionic Digital Inc. (IOND) filed a prospectus supplement covering 10,800,164 shares of Class A common stock and incorporating its Quarterly Report for the quarter ended June 30, 2026. The company now operates two segments: cryptocurrency mining and digital infrastructure solutions.
For the first half of 2026, Ionic reported total revenue of $100.1 million, up from $78.3 million a year earlier, driven by $87.9 million of digital infrastructure leasing revenue as a new segment scaled up. Cryptocurrency mining revenue fell to $12.2 million from $78.3 million. The company recorded a net loss of $48.3 million versus net income of $3.9 million in the prior-year period, largely due to an $81.5 million loss on the fair value of bitcoin. Cash and cash equivalents rose to $415.7 million after a $400 million private placement of Series A convertible preferred stock and warrants, while bitcoin holdings had a fair value of $168.7 million.
Ionic Digital Inc. (IOND) reported a sharp business mix shift for the quarter ended June 30, 2026. Total revenue was $48.6 million, up from $37.2 million a year earlier, driven by new digital infrastructure leasing revenue of $43.8 million that largely replaced legacy cryptocurrency mining revenue.
Cryptocurrency mining revenue fell to $4.8 million from $37.2 million, while a $28.2 million loss on bitcoin fair value contributed to an operating loss of $8.2 million and a net loss of $35.3 million versus $31.9 million of net income in the prior-year quarter. Year‑to‑date, the company posted a net loss of $48.3 million.
Liquidity increased substantially: cash and cash equivalents were $415.7 million at June 30, 2026, up from $43.5 million at year‑end, primarily from a $400 million private placement of Series A convertible preferred stock and associated warrants. Bitcoin holdings had a fair value of $168.7 million, down from $237.9 million as market prices declined. Ionic recorded $87.9 million of digital infrastructure leasing revenue in the first half and disclosed $1.9 billion of fixed lease payments expected through 2037, while recognizing a significant income tax expense of $27.2 million this quarter driven by valuation allowances despite pre‑tax losses.