Bitcoin Miner Ionic Digital Delays IPO, What’s Happening?

Todaysgist.com, Jakarta – US Bitcoin miner Ionic Digital has postponed plans to go public following the resignation of its CEO and auditor.

Ionic Digital itself was in the spotlight some time ago after purchasing mining assets belonging to bankrupt crypto lender Celsius.

“The absence of an interim auditor has prevented the Company from being able to update its SEC filings, which in turn has delayed Ionic Digital’s efforts to become a public reporting company,” the company’s official statement said, as quoted by Coindesk, Friday (9/8/2024).

Ionic Digital also did not provide a schedule for the delayed IPO.

In July 2024, former Ionic Digital CEO Matt Prusak told the company’s board that he would not be staying on after his term ended on August 14.

Ionic itself has begun searching for a new CEO and appointed its newly hired CFO, John Penver, as interim leader.

Penver was hired in July to shepherd the company’s plans to go public. Ionic Digital said that despite the leadership change, the company still intends to pursue an initial public offering and is optimistic that Penver will be able to lead the company to that goal.

However, the time required is another matter.

Ionic also said that its auditor, RSM US, was severing ties with the miner, citing a strategic decision by the accounting firm to end services to crypto-related companies.

“RSM’s decision is not the result of any disagreement with the Company regarding accounting principles, practices, financial statement disclosures, or audit scope or procedures,” Ionic said in a statement, adding that the company has made good progress in finding a replacement.

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