Ionic Digital (IOND)
Market Price (11/5/2026): $56.29 | Market Cap: $2.5 BilSector: Financials | Industry: Diversified Capital Markets
Ionic Digital (IOND)
Market Price (11/5/2026): $56.29Market Cap: $2.5 BilSector: FinancialsIndustry: Diversified Capital Markets
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Crypto & Blockchain. Themes include Cryptocurrency Mining. | Weak multi-year price returns2Y Excs Rtn is -34%, 3Y Excs Rtn is -85% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -54%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -60% Key risksIOND key risks include [1] its potential inability to secure the required energy expansion at its Ward County site for a critical agreement and [2] its reliance on volatile bitcoin holdings to fund that expansion. |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain. Themes include Cryptocurrency Mining. |
| Weak multi-year price returns2Y Excs Rtn is -34%, 3Y Excs Rtn is -85% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -54%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -60% |
| Key risksIOND key risks include [1] its potential inability to secure the required energy expansion at its Ward County site for a critical agreement and [2] its reliance on volatile bitcoin holdings to fund that expansion. |
Qualitative Assessment
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Ionic Digital (IOND) stock has lost about 15% since 7/31/2026 because of the following key factors:
1. Discrepancy between recognized leasing revenue and cash rent collection raised investor concerns regarding cash flow.
In fiscal Q3 2026, which ended September 30, 2026, Ionic Digital reported $43.9 million in digital infrastructure leasing revenue. However, only about $7 million of this amount was collected as cash rent during the period. The company indicated that cash rent collection is expected to "ramp through February 2028." This significant gap between reported revenue and immediate cash realization likely contributed to investor uncertainty regarding the company's short-term liquidity and the quality of its earnings, despite the strategic pivot towards higher-margin infrastructure leasing.
2. Continued net losses, heavily influenced by non-cash items, masked underlying operational profitability.
Ionic Digital reported a net loss of approximately $300 million over the trailing twelve months as of September 2026. While fiscal Q3 2026 showed a net income of $17.4 million, this figure was substantially impacted by non-cash adjustments, including a $73.2 million non-cash gain on the fair value of cryptocurrency, partially offset by a $65.9 million non-cash charge related to an increase in the fair value of warrants issued in June 2026. This suggests that core operational profitability remains a challenge, and the reported net income does not fully reflect the company's cash-generating performance from its primary business activities.
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Ionic Digital (IOND) stock has lost about 15% since 7/31/2026 because of the following key factors:
1. Discrepancy between recognized leasing revenue and cash rent collection raised investor concerns regarding cash flow.
In fiscal Q3 2026, which ended September 30, 2026, Ionic Digital reported $43.9 million in digital infrastructure leasing revenue. However, only about $7 million of this amount was collected as cash rent during the period. The company indicated that cash rent collection is expected to "ramp through February 2028." This significant gap between reported revenue and immediate cash realization likely contributed to investor uncertainty regarding the company's short-term liquidity and the quality of its earnings, despite the strategic pivot towards higher-margin infrastructure leasing.
2. Continued net losses, heavily influenced by non-cash items, masked underlying operational profitability.
Ionic Digital reported a net loss of approximately $300 million over the trailing twelve months as of September 2026. While fiscal Q3 2026 showed a net income of $17.4 million, this figure was substantially impacted by non-cash adjustments, including a $73.2 million non-cash gain on the fair value of cryptocurrency, partially offset by a $65.9 million non-cash charge related to an increase in the fair value of warrants issued in June 2026. This suggests that core operational profitability remains a challenge, and the reported net income does not fully reflect the company's cash-generating performance from its primary business activities.
3. Elevated valuation multiples presented limited room for error amid transition and growth expectations.
As of September 2026, Ionic Digital's stock was trading at an elevated price-to-sales multiple of nearly 20 times revenue. This high valuation implies significant future growth expectations for its AI and high-performance computing (HPC) data center leasing segment. Any indications of a slowdown in the pace of this growth, or continued skepticism about the rapid conversion of recognized leasing revenue into cash, could lead to a re-evaluation by investors and exert downward pressure on the stock price.
4. Broader cryptocurrency market volatility likely contributed to cautious investor sentiment.
Although Ionic Digital is transitioning its business focus, it still maintains a legacy cryptocurrency mining operation and holds significant Bitcoin assets (2,954 Bitcoin valued at $247 million as of September 30, 2026). The period since July 2026 saw mixed signals in the broader cryptocurrency market, with Bitcoin experiencing a 7.3% rally in July but overall market sentiment remaining "cautiously optimistic," with some analysts watching for a potential bear market bottom around November 2026. Persistent volatility and uncertainty in the crypto space may have dampened investor enthusiasm for companies with exposure to digital assets, including Ionic Digital, limiting its upside potential during this transitional phase.
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Stock Movement Drivers
Fundamental Drivers
The -13.5% change in IOND stock from 7/31/2026 to 11/4/2026 was primarily driven by a -35.6% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 70.01 | 60.55 | -13.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 109 | 146 | 34.2% |
| P/S Multiple | 28.9 | 18.6 | -35.6% |
| Shares Outstanding (Mil) | 45 | 45 | 0.0% |
| Cumulative Contribution | -13.5% |
Market Drivers
7/31/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| IOND | -13.5% | |
| Market (SPY) | 2.6% | 12.0% |
| Sector (XLF) | 4.0% | -29.7% |
Fundamental Drivers
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Market Drivers
4/30/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| IOND | ||
| Market (SPY) | 7.0% | 6.7% |
| Sector (XLF) | 14.0% | -32.6% |
Fundamental Drivers
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Market Drivers
10/31/2025 to 11/4/2026| Return | Correlation | |
|---|---|---|
| IOND | ||
| Market (SPY) | 13.4% | 6.7% |
| Sector (XLF) | 14.4% | -32.6% |
Fundamental Drivers
nullnull
Market Drivers
10/31/2023 to 11/4/2026| Return | Correlation | |
|---|---|---|
| IOND | ||
| Market (SPY) | 89.7% | 6.7% |
| Sector (XLF) | 91.0% | -32.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IOND Return | - | - | - | - | - | -4% | -4% |
| Peers Return | 60% | -84% | 353% | 57% | 23% | -8% | 100% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| IOND Win Rate | - | - | - | - | - | 60% | |
| Peers Win Rate | 42% | 33% | 75% | 48% | 62% | 42% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| IOND Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -71% | -88% | -57% | -61% | -59% | -60% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HUT, CORZ, RIOT, MARA, CLSK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)
How Low Can It Go
IOND has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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IOND has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Ionic Digital (IOND)
Ionic Digital (IOND) has evolved from its origins as a pure-play cryptocurrency mining company into a diversified digital infrastructure solutions provider. Initially formed in January 2024 to acquire Celsius Mining's assets and monetize powered digital infrastructure through efficient bitcoin mining, the company has strategically shifted its focus. It now primarily leases its digital infrastructure assets to hyperscalers, enterprise customers, and other businesses for high-performance computing (HPC) and artificial intelligence (AI) cloud infrastructure applications.
The core of Ionic Digital's current business model is exemplified by its significant Nscale Agreement. This 126-month "triple net" lease, announced in October 2025 and amended in February 2026, commits the company to providing Nscale Ward County LLC with 234 megawatts (MW) of energy capacity at its Ward County property in West Texas, with an additional 89 MW contemplated for future expansion. This agreement represents total contracted revenues of approximately $1.95 billion, potentially increasing to $2.6 billion, and has led to the decommissioning of all bitcoin mining assets at Ward County to serve the burgeoning AI infrastructure market. Ionic Digital's main service is providing robust energy and infrastructure solutions tailored for energy-intensive computing needs.
While the Ward County site is dedicated to HPC/AI infrastructure, Ionic Digital maintains bitcoin mining operations at its other four facilities across Texas. This hybrid approach allows the company to monetize its owned and leased powered digital infrastructure assets across various applications, including data centers, bitcoin mining, and other energy-intensive uses. Its primary customers are global hyperscalers and enterprise entities requiring scalable and reliable infrastructure for AI and advanced computing, positioning Ionic Digital as a flexible innovator at the nexus of energy, advanced computing, and digital asset management.
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Here are 1-3 brief analogies to describe Ionic Digital (IOND):
- Think of them as a Digital Realty Trust for the high-performance computing and artificial intelligence industry, providing massive powered digital infrastructure.
- Imagine a former Bitcoin mining company that's evolving into an Equinix for AI infrastructure, leasing out their sites for advanced computing.
- They're somewhat like an American Tower, but instead of leasing out space on cell towers, they lease out large-scale powered land and infrastructure for AI data centers.
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- AI/HPC Data Center Hosting: Leasing powered digital infrastructure assets to hyperscalers and enterprise customers for high-performance computing and artificial intelligence cloud infrastructure.
- Cryptocurrency Mining: Operating their own facilities and equipment to mine Bitcoin.
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Ionic Digital (IOND) primarily sells its services to other companies, specifically in the digital infrastructure, high-performance computing (HPC), and artificial intelligence (AI) cloud infrastructure sectors.
The company's major customer identified in the provided text is:
- Nscale Ward County LLC (referred to as "Nscale"). Nscale is described as a global hyperscaler engineered for sovereign-grade AI infrastructure. The company did not provide a public stock symbol for Nscale.
Ionic Digital also indicates that it may provide expanded energy capacity at its Ward County property to other AI, enterprise, or cloud infrastructure companies in the future.
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Andy Stewart, Chief Executive Officer
Andy Stewart was appointed Chief Executive Officer of Ionic Digital on November 18, 2025. He brings nearly 25 years of executive experience in digital infrastructure. Stewart previously served as CEO of Evoque Data Center Solutions from 2020 to 2023, where he focused on optimizing data center portfolios and driving growth. His career began at JP Morgan, and he holds an MBA from Washington University in St. Louis.
Chris Hickman, Chief Financial Officer
Chris Hickman was appointed Chief Financial Officer of Ionic Digital on May 5, 2026. He possesses over 20 years of finance experience across the digital infrastructure and energy sectors. Prior to joining Ionic Digital, Hickman served as both CEO and CFO of Tillman Infrastructure. He also held senior leadership positions at Crown Castle, a publicly traded U.S. wireless infrastructure company, with responsibilities in investor relations, capital markets, and operational finance and strategy. Earlier in his career, he managed multi-billion-dollar joint ventures and led the successful IPO of Noble Midstream Partners at Noble Energy.
Antonio Piraino, Chief Strategy Officer
Antonio Piraino was appointed Chief Strategy Officer on April 24, 2026. He has over 30 years of global expertise in data center operations, strategy, and acquisitions. Before Ionic Digital, Piraino was the Global Head of Digital Advisory Services at Uptime Institute. He also served as Chief Technology Officer at ScienceLogic and held key technical and leadership roles at companies such as 451 Research, Akamai Technologies, Telecom Italia, and BCE Teleglobe.
Mark Lambourne, Chief Development Officer
Mark Lambourne joined Ionic Digital as Chief Development Officer on April 24, 2026. With over 30 years of experience in data center development, he is responsible for the physical expansion and management of the company's data center portfolio, including real estate acquisition, design, engineering, and construction. His past experience includes leadership roles at Digital Realty (EU), Global Switch, and ClearBlue Technologies.
Richard Carson, General Counsel
Richard Carson was appointed General Counsel of Ionic Digital on May 5, 2026. He brings more than 30 years of legal and executive experience with a focus on the energy, infrastructure, and fintech sectors. His expertise encompasses commercial transactions, mergers and acquisitions, and regulatory compliance. Carson previously held roles at Magellan Midstream Partners and Williams.
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Key Risks to Ionic Digital (IOND)
- Inability to Expand Energy Capacity at Ward County for Nscale Agreement: Ionic Digital explicitly states that it cannot guarantee the contemplated expansion of power generation at its Ward County property, particularly the additional 89 MW of capacity for the Nscale Agreement. This expansion, which would increase total contracted revenues to approximately $2.6 billion, is subject to regulatory approval and there is no penalty under the Nscale Agreement if the company is unable to provide this additional capacity. The company's broader ambition to expand Ward County to 700 MW also faces similar challenges, impacting its strategic objective to monetize its digital infrastructure assets through HPC/AI.
- Reliance on Volatile Bitcoin Holdings to Fund Capital Expenditures: The company plans to fund significant capital expenditures, estimated at $40 million for the 89 MW expansion and $64 million for the 700 MW expansion at Ward County, using cash on hand and "sales of our bitcoin held in treasury, as needed." Given the inherent volatility of bitcoin's price, a significant decline in its value could negatively impact the company's ability to fund these crucial infrastructure expansions, thereby jeopardizing its growth strategy and the successful execution of its agreements.
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- Commencement and consistent realization of fixed lease payments from the Nscale Agreement for the initial 234 MW capacity at Ward County. Monthly fixed lease payments from this 126-month "triple net" lease are scheduled to begin in August 2026 and represent approximately $1.95 billion in total contracted revenues.
- Revenue growth from the contractual obligation of Nscale to lease an additional 89 MW of capacity at Ward County. This amendment to the Nscale Agreement, expected to be energized by the second half of 2027, could increase total contracted revenues under the agreement to approximately $2.6 billion.
- Expansion of Ward County property capacity to 700 MW and subsequent leasing to high-performance computing (HPC) and AI customers. Ionic Digital is actively seeking to expand the energy capacity at its Ward County property to 700 MW, with Nscale holding a right of first refusal on this additional capacity, or it may be provided to other AI, enterprise, or cloud infrastructure companies.
- Monetization and potential conversion of other digital infrastructure assets for HPC/AI use. Beyond the Ward County facility, Ionic Digital operates four other sites in Texas totaling 112 MW, currently used for bitcoin mining. These sites are being evaluated for HPC/AI development, indicating a strategy to diversify revenue streams by leveraging existing infrastructure for high-demand computing applications.
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Capital Expenditures
- Expected capital expenditures are approximately $40 million during 2026 and the first half of 2027 to support the increased capacity of 89 MW under the Nscale Agreement, primarily for the HPC/AI sector.
- Total capital expenditures are expected to be approximately $64 million, primarily during the last half of 2026 and the first half of 2027, for the full expansion of the Ward County property to 700 MW.
- Investments have begun at the Ward County property to develop the remaining 86 acres, providing infrastructure to support up to approximately 700 MW of total capacity.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 13.91 |
| Mkt Cap | 4.2 |
| Rev LTM | 558 |
| Op Inc LTM | -316 |
| FCF LTM | -1,080 |
| FCF 3Y Avg | -949 |
| CFO LTM | -313 |
| CFO 3Y Avg | -380 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.5% |
| Rev Chg 3Y Avg | 54.7% |
| Rev Chg Q | -7.1% |
| QoQ Delta Rev Chg LTM | -1.9% |
| Op Inc Chg LTM | -68.2% |
| Op Inc Chg 3Y Avg | -92.6% |
| Op Mgn LTM | -63.6% |
| Op Mgn 3Y Avg | -51.2% |
| QoQ Delta Op Mgn LTM | -13.8% |
| CFO/Rev LTM | -66.2% |
| CFO/Rev 3Y Avg | -66.5% |
| FCF/Rev LTM | -160.1% |
| FCF/Rev 3Y Avg | -168.7% |
Price Behavior
| Market Price | $60.55 | |
| First Trading Date | 07/28/2026 | |
| Distance from 52W High | -30.1% | |
| 50 Days | 200 Days | |
| DMA Price | $75.17 | |
| DMA Trend | ||
| Distance from DMA | -19.4% | |
| 3M | 1YR | |
| Volatility | 61.4% | 64.5% |
| Downside Capture | 244.37 | |
| Upside Capture | 375.27 | |
| Correlation (S&P 500) | 41.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.70 | 2.34 | 1.22 | -0.82 | 0.60 | 0.82 |
| Up Beta | -1.01 | 1.07 | -3.69 | -0.04 | 0.92 | -0.56 |
| Down Beta | 2.87 | 2.86 | 1.83 | -1.68 | 0.38 | -0.57 |
| Up Capture | 307% | 240% | 230% | 98% | 38% | 3% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 9 | 22 | 33 | 36 | 36 | 36 |
| Down Capture | 462% | 235% | 226% | 98% | 57% | 33% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 13 | 21 | 31 | 31 | 31 | 31 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IOND | |
|---|---|---|---|---|
| IOND | -3.8% | 64.5% | 0.03 | - |
| Sector ETF (XLF) | 15.0% | 15.0% | 0.71 | -32.6% |
| Equity (SPY) | 13.2% | 12.9% | 0.68 | 6.7% |
| Gold (GLD) | 1.0% | 28.8% | 0.03 | 1.3% |
| Commodities (DBC) | 35.9% | 21.2% | 1.34 | 23.8% |
| Real Estate (VNQ) | 14.3% | 14.1% | 0.70 | -6.3% |
| Bitcoin (BTCUSD) | -28.2% | 43.4% | -0.65 | 20.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IOND | |
|---|---|---|---|---|
| IOND | -0.8% | 64.5% | 0.03 | - |
| Sector ETF (XLF) | 10.0% | 18.3% | 0.40 | -32.6% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 6.7% |
| Gold (GLD) | 17.3% | 19.1% | 0.73 | 1.3% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 23.8% |
| Real Estate (VNQ) | 1.8% | 18.9% | -0.01 | -6.3% |
| Bitcoin (BTCUSD) | 5.5% | 51.5% | 0.29 | 20.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IOND | |
|---|---|---|---|---|
| IOND | -0.4% | 64.5% | 0.03 | - |
| Sector ETF (XLF) | 13.7% | 22.1% | 0.56 | -32.6% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 6.7% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 1.3% |
| Commodities (DBC) | 7.4% | 18.1% | 0.33 | 23.8% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | -6.3% |
| Bitcoin (BTCUSD) | 61.0% | 66.2% | 1.01 | 20.4% |
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Earnings Returns History
Updated 11/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/19/2026 | 2.2% | 4.9% | 25.9% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 1 |
| # Negative | 0 | 0 | 0 |
| Median Positive | 2.2% | 4.9% | 25.9% |
| Median Negative | |||
| Max Positive | 2.2% | 4.9% | 25.9% |
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/19/2026 | 2.2% | 4.9% | 25.9% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 1 |
| # Negative | 0 | 0 | 0 |
| Median Positive | 2.2% | 4.9% | 25.9% |
| Median Negative | |||
| Max Positive | 2.2% | 4.9% | 25.9% |
| Max Negative | |||
Recent Forward Guidance
Updated 11/4/2026Latest: Q3 2026 Earnings Reported 11/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Digital infrastructure leasing revenue | Reported | 175.00 Mil | ||||||
| 2026 Cryptocurrency mining revenue | Reported | 15.00 Mil | 17.50 Mil | 20.00 Mil | ||||
| 2026 Total Revenue | Reported | 190.00 Mil | 192.50 Mil | 195.00 Mil | 0.0% | Affirmed | Guidance: 192.50 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 137.50 Mil | 140.00 Mil | 142.50 Mil | 0.0% | Affirmed | Guidance: 140.00 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 45.00 Mil | 52.50 Mil | 60.00 Mil | 0.0% | Affirmed | Guidance: 52.50 Mil for 2026 | |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
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| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Diversified Capital Markets Resources |
| International Financing Review (IFR) |
| Financial News |
| Global Capital |
External Quote Links
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| SeekingAlpha | ValueLine |
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
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