Business
John Penver Joins Ionic Digital as Chief Financial Officer
John Penver has joined Ionic Digital as the Chief Financial Officer, bringing his expertise in financial management to drive the company’s growth and success.
Ionic Digital, the bitcoin (BTC) miner that acquired all of Celsius’ mining assets, has appointed John Penver as its new chief financial officer to lead the company through its upcoming initial public offering. Penver, who previously served as the CFO of TSS (TSSI), brings over 18 years of experience in data center technology and infrastructure.
As the CFO of Ionic Digital, Penver will be responsible for steering the company’s financial operations, including financial planning, analysis, and reporting, as well as managing the process of taking the company public.
Private Miners Eyeing Public Offerings
Despite the challenges posed by the bitcoin halving, which has made mining less profitable, numerous private miners are considering going public following the recent surge in bitcoin’s value. Swan Bitcoin, Genesis Digital Assets, and two units of Northern Data are among the firms reportedly planning IPOs.
Ionic’s Expansion and Plans
Under the leadership of Matt Prusak, former chief commercial officer of Hut 8 and USBTC, Ionic Digital is set to grow significantly. Earlier this year, Ionic announced the acquisition of all mining assets previously owned by Celsius as part of the bankrupt lender’s restructuring process.
With plans to go public within the next 12 months, Ionic Digital aims to achieve a computing power of 12.7 exahash per second (EH/s) once its operations are fully operational this year. The company’s assets include 87MW of self-mining capacity, 142MW of hosted bitcoin mining at third-party locations, and the development of the Cedarvale site to reach a capacity of 240MW.