Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
Ionic Digital, the bitcoin miner that bought bankrupt crypto lender Celsius' mining assets, has delayed a plan to go public after losing its CEO and auditor.
Former CEO Matt Prusak told the company in July he won't stay on after the end of his employment term on Aug. 14, the miner said in aThursday. Ionic has started searching for a new CEO and named its recently hired CFO, John Penver, the interim boss.in July to shepherd the company's plan to go public. Ionic said that despite the leadership change, it still intends to do an initial public offering and is"confident" that Penver will be able to lead the company to that goal.
"RSM's decision was not a result of any disagreements with the Company on accounting principles, practices, financial statement disclosure, or auditing scope or procedure," Ionic said in the statement, adding that it has made good progress in finding a replacement. Ionic came out of stealth earlier this year. At the time the miner said it would acquire all of Celsius' mining assets as part of the bankrupt lender'sGetting dumped by RSM has thrown a wrench in the works."The temporary absence of an 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 statement added, without giving a revised timeline.
Most recently, bitcoin financial services firm Swan Bitcoin, which planned to go public, canceled its IPO, discontinued its hosted mining business and cut staff across several units, citing reduced revenues.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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