Cryptominer turned AI and HPC data center firm Ionic Digital has secured $400 million in equity investment.The company said the round was led by new investors Attestor, Oaktree Capital Management, and Sachem Head Capital Management, with participation from Citadel and Weiss Asset Management.Ionic said the deal values the company at $2 billion.Proceeds from the investment will be used for general corporate purposes, including the continued development of the company’s digital infrastructure assets.“This financing strengthens Ionic Digital’s capital base and supports the continued development of our digital infrastructure platform,” said Andy Stewart, Ionic Digital CEO. “We appreciate the participation and support of Attestor, Oaktree, Sachem Head, Citadel, and Weiss in this transaction.”Ionic Digital is a digital infrastructure and cryptocurrency mining company with Bitcoin mining sites across the US. It was formed in 2024 from the acquisition of the mining assets of Celsius Mining LLC following Celsius Network LLC going bankrupt in 2022.Ionic has Bitcoin mining sites in Texas across in Garden City and Rebel (12MW and 50MW, both Glassock County), Stiles, and East Stiles (20MW and 30MW, both Reagan County).The company operates some 120,000 mining rigs. As with many cryptominers, Ionic is looking to eventually pivot to focus main on AI and HPC data center development. The company says each of the Glassock and Reagan sites have sufficient land to support the construction of a new HPC/AI data center facility – and is exploring connecting the sites with fiber to create a low latency loop.The company is also set to lease its site in Barstow, Texas, to Nscale. Crytptomining at the site has been decommissioned. AI cloud firm Nscale, spun out of crypto firm Arkon Energy, is leasing the site for 10 years in a $2 billion deal. The 234MW Cedarvale site in Ward County will be used, in turn, to serve Microsoft. Nscale is also leasing a further 89MW from 2027. Ionic is also seeking to expand the Barstow site to 700MW by the end of 2027.“We believe the continued growth in demand for digital infrastructure is creating attractive long-term investment opportunities. Ionic Digital has assembled a compelling portfolio of assets, a differentiated development platform, and an experienced management team with a demonstrated ability to execute,” said a representative of the new investor group. “We are pleased to support the company as it advances its strategy and pursues opportunities to create long-term shareholder value.”Ionic is in the process of going public.In February 2026, Ionic chose not to renew its long-term hosting arrangement with GXD in Oklahoma and removed all its miners from the site. The company no longer has any mining rigs hosted with third parties.J.P. Morgan and BTIG, LLC acted as co-placement agents for the transaction, and White & Case LLP served as legal counsel to the company.