Ionic Appoints New Board Chair, Realized 6.16 EH/s in Bitcoin Hashrate

Ionic Digital, the rebranded bitcoin mining entity from the defunct crypto lender Celsius, has appointed a new chairwoman following a recent management reshuffle.

The company announced on Tuesday that Elizabeth LaPuma has been appointed as its new board chair during the September board of directors meeting, succeeding Emmanuel Aidoo. Aidoo had served as chairman since January and will continue as a board director.

LaPuma, who was previously a managing director and head of balance sheet advisory at UBS, joined Ionic’s board in January as a director following the bankruptcy restructuring of Celsius.

“Having Liz step into the board chair role will help us advance our mission to develop cost-effective, energy-focused computing solutions that incorporate bitcoin mining, enhance capital efficiency, and optimize power assets to maximize shareholder value,” said Ionic’s CFO and interim CEO, John Penver.

The appointment comes months after the resignation of Ionic’s former CEO, Matt Prusak. The company’s auditor, RSM US LLP, also notified that it would discontinue its services for Ionic, leading to the suspension of Ionic’s IPO plans.

On Aug. 27, Ionic announced the energization of Building 1 with 50 megawatts of capacity at its Cedarvale facility in Ward County, Texas. The site powered 15,552 bitcoin miners with a combination of new and relocated rigs to enhance performance and efficiency.

Ionic previously reported that its mining operations generated 1,331 BTC between February and July, and it held 1,891.68 BTC at the end of July, implying an average realized hashrate of 6.16 EH/s.