IOND
IONDCIK 0002007691
Mid by assets
Assets $923M
as of Sep 6, 2026
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8-K
Filed Sep 11, 2026
· Period ending Sep 10, 2026
Summary not yet generated.
424B3
Filed Sep 2, 2026
IOND files prospectus supplement updating its July 2026 prospectus with Q2 financials; Class A stock last traded at $72.15
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10-Q
Filed Sep 1, 2026
· Period ending Jun 30, 2026
Summary not yet generated.
8-K
Filed Aug 19, 2026
· Period ending Aug 19, 2026
Summary not yet generated.
424B4
Filed Jul 28, 2026
Summary not yet generated.
8-K
Filed Jul 22, 2026
· Period ending Jul 21, 2026
Summary not yet generated.
S-1/A
Filed Jul 13, 2026
Red flag
IOND updates S-1: custody details, regulatory clarity, and revised Midland HPC/AI timeline
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S-1
Filed Jun 29, 2026
Summary not yet generated.
Latest financial statements
From 10-Q filed Sep 1, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands of US $, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue: | ||||
| Cryptocurrency mining | 4,798 | 37,192 | 12,199 | 78,273 |
| Digital infrastructure leasing | 43,849 | — | 87,888 | — |
| Total Revenue | 48,647 | 37,192 | 100,087 | 78,273 |
| Operating expenses: | ||||
| Cost of mining revenues, exclusive of depreciation | 3,060 | 22,256 | 8,663 | 47,469 |
| Cost of digital infrastructure solutions revenues, exclusive of depreciation | 209 | — | 674 | — |
| Depreciation | 4,903 | 16,917 | 10,479 | 33,374 |
| General and administrative expenses | 19,465 | 10,796 | 35,706 | 17,907 |
| (Gain) loss on fair value of cryptocurrency | 28,204 | (46,780) | 81,527 | (1,332) |
| Realized gain on sale of cryptocurrency assets | — | (14,796) | — | (32,410) |
| (Gain) loss on sale of property and equipment | 847 | (2) | 544 | (21) |
| Other operating expenses, net | 195 | 250 | 382 | 500 |
| Total operating expenses | 56,883 | (11,359) | 137,975 | 65,487 |
| Operating income (loss) | (8,236) | 48,551 | (37,888) | 12,786 |
| Other income (expense) | ||||
| Interest income | 179 | 359 | 506 | 700 |
| Realized loss on cryptocurrencies derivatives | — | (130) | — | (130) |
| Loss on litigation settlement | — | (8,079) | — | (8,079) |
| Other income (expense) | 179 | (7,850) | 506 | (7,509) |
| Income (loss) before provision for income taxes | (8,057) | 40,701 | (37,382) | 5,277 |
| Provision for income taxes | 27,248 | 8,787 | 10,907 | 1,394 |
| Net income (loss) | (35,305) | 31,914 | (48,289) | 3,883 |
| Basic and diluted net income (loss) per share | (0.94) | 0.85 | (1.29) | 0.10 |
| Weighted-average number of shares used in computing net loss per share, basic and diluted | 37,374,261 | 37,374,261 | 37,374,261 | 37,374,261 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands of US $, except share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 415,738 | 43,510 |
| Cryptocurrency assets | 168,680 | 237,947 |
| Other receivables, current (net of $0.0 million and $5.1 million allowance for credit losses as of June 30, 2026 and December 31, 2025, respectively) | 48,994 | 10,460 |
| Prepaid expenses and other current assets | 6,966 | 11,427 |
| Assets held for sale | 2,187 | — |
| Total current assets | 642,565 | 303,344 |
| Non-current assets: | ||
| Property and equipment, net | 65,641 | 76,156 |
| Deferred initial direct leasing costs | 6,466 | 6,803 |
| Other receivables, non-current (net of $3.3 million allowance for credit losses as of June 30, 2026 and December 31, 2025) | 370 | 370 |
| Deposits and other non-current assets | 2,211 | 2,253 |
| Goodwill | 161,608 | 161,608 |
| Deferred tax assets, net | 43,657 | 54,470 |
| Total non-current assets | 279,953 | 301,660 |
| TOTAL ASSETS | 922,518 | 605,004 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Deferred digital infrastructure leasing revenue | — | 39,793 |
| Accounts payable | 1,178 | 1,720 |
| Accrued expenses and other current liabilities | 25,167 | 19,159 |
| Total current liabilities | 26,345 | 60,672 |
| Non-current liabilities: | ||
| Non-current portion of lease liability | 138 | 170 |
| Warrant liability | 34,061 | — |
| Other non-current liabilities | 871 | 755 |
| Total non-current liabilities | 35,070 | 925 |
| TOTAL LIABILITIES | 61,415 | 61,597 |
| Commitments and contingencies (Note 15) | ||
| Mezzanine Equity | ||
| Series A convertible preferred stock, $0.00001 par value, 7,547,166 and zero shares authorized, 7,547,166 and zero issued and outstanding as of June 30, 2026 and December 31, 2025; aggregate liquidation preference of $600.0 million and $0.0 million as of June 30, 2026 and December 31, 2025, respectively | 350,547 | — |
| Stockholders’ Equity: | ||
| Preferred stock, $0.00001 par value, 15,000,000 shares authorized, none issued and outstanding as of June 30, 2026 and December 31, 2025 | — | — |
| Series Z preferred stock, $0.00001 par value, 40,000 and zero shares authorized, 40,000 and zero issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | — | — |
| Class A common stock, $0.00001 par value, 1,000,000,000 shares authorized, 37,374,261 shares issued and outstanding as of June 30, 2026 and December 31, 2025 | — | — |
| Additional paid-in capital | 766,423 | 750,985 |
| Accumulated deficit | (255,867) | (207,578) |
| TOTAL STOCKHOLDERS' EQUITY | 510,556 | 543,407 |
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY | 922,518 | 605,004 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands of US $)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income (loss) | (48,289) | 3,883 |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Mining revenue received in bitcoin | (12,199) | (78,273) |
| Hosting costs paid in bitcoin | — | 592 |
| Depreciation and amortization | 10,489 | 33,384 |
| Loss (gain) on the fair value of cryptocurrency assets | 81,527 | (1,332) |
| Realized gain on sale of cryptocurrency assets | — | (32,410) |
| Loss (gain) on sale of property and equipment | 544 | (21) |
| Deferred initial direct leasing costs | 337 | — |
| Non-cash lease expense | 31 | 38 |
| Stock compensation expense | 15,438 | — |
| Deferred income taxes, net | 10,813 | 1,120 |
| Changes in assets and liabilities | ||
| Other receivables | (38,593) | (797) |
| Prepaid expenses and other current assets | 4,461 | (7,501) |
| Deferred digital infrastructure leasing revenue | (39,793) | — |
| Accounts payable and other accrued liabilities | (10,785) | 9,827 |
| Non-current liabilities | 84 | 235 |
| Net cash used in operating activities | (25,935) | (71,255) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (5,827) | (4,152) |
| Proceeds from the sale of mining equipment | 659 | 21 |
| Proceeds from assets held for sale | 3,331 | — |
| Proceeds from sale of cryptocurrency assets | — | 64,238 |
| Net cash provided by (used in) investing activities | (1,837) | 60,107 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of warrants | 34,061 | — |
| Proceeds from issuance of Series A preferred stock | 365,939 | — |
| Net cash provided by financing activities | 400,000 | — |
| Net increase (decrease) in cash and cash equivalents | 372,228 | (11,148) |
| Cash and cash equivalents at the beginning of the period | 43,510 | 48,393 |
| Cash and cash equivalents at the end of the period | 415,738 | 37,245 |
| Supplemental schedule of non-cash financing and investing activities: | ||
| Assumption of liability for the acquisition of PPE | 876 | 2,347 |
| Private Placement Issuance Costs in accounts payable and accruals | 16,800 | — |
Amounts as printed on the EDGAR/iXBRL face — (in thousands of US $, except per share data); (in thousands of US $, except share data); (in thousands of US $). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗