Ionic Digital Management

Management criteria checks 0/4

We currently do not have sufficient information about the CEO.

Key information

Andy Stewart

Chief executive officer

US$26.0m

Total compensation

CEO salary percentage	0.15%
CEO tenure	less than a year
CEO ownership	n/a
Management average tenure	less than a year
Board average tenure	2.2yrs

Recent management updates

Recent updates

Seeking Alpha • Aug 11

Ionic Digital: The Nscale Lease Changes The Story

Summary I became an Ionic Digital shareholder through the Celsius bankruptcy, as did tens of thousands of other creditors, creating a real overhang that cannot be currently quantified. The existing 234 MW triple-net AI infrastructure lease demonstrates a core pivot in the business of Ionic and the phasing out of their legacy bitcoin mining business. IOND looks relatively fairly valued given the 89 MW expansion that has already been contracted out, assuming it is approved and delivered on time. I rate IOND a 'Hold'; the potential upside if the valuation relative to peers closes is enough for me to keep the shares for the time being. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has Andy Stewart's remuneration changed compared to Ionic Digital's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2026	n/a	n/a	-US$300m
Mar 31 2026	n/a	n/a	-US$233m
Dec 31 2025	US$26m	US$38k	-US$248m

Compensation vs Market: Andy's total compensation ($USD26.00M) is above average for companies of similar size in the US market ($USD6.88M).

Compensation vs Earnings: Insufficient data to compare Andy's compensation with company performance.

CEO

Andy Stewart (54 yo)

less than a year

Tenure

US$26,001,535

Compensation

Mr. Andy Stewart has been the Chief Executive Officer and Director of Ionic Digital Inc. since November 2025. He is Director of Flexential Inc. from May 2025. He has more than years of experience in the di...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Andy Stewart	CEO & Director	less than a year	US$26.00m	no data
Chris Hickman	Chief Financial Officer	less than a year	no data	no data
Richard Carson	General Counsel	less than a year	no data	no data
Mark Lambourne	Chief Development Officer	less than a year	no data	no data
Antonio Piraino	Chief Strategy Officer	less than a year	no data	no data

0.5yrs

Average Tenure

54yo

Average Age

Experienced Management: IOND's management team is not considered experienced ( 0.5 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Andy Stewart	CEO & Director	less than a year	US$26.00m	no data
Scott Flanders	Independent Director	2.2yrs	US$1.70m	0.028% $ 1.0m
Oliver Wiener	Independent Director	1.2yrs	US$1.40m	0.028% $ 1.0m
Thomas Difiore	Independent Director	2.7yrs	US$1.64m	0.14% $ 5.3m
Michael Abbate	Independent Director	1.2yrs	US$1.40m	0.028% $ 1.0m
Scott Duffy	Independent Director	2.7yrs	US$1.63m	0.27% $ 10.1m
Elizabeth LaPuma	Independent Chairwoman of the Board	2.7yrs	US$1.83m	no data

2.2yrs

Average Tenure

48yo

Average Age

Experienced Board: IOND's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/13 02:16
End of Day Share Price	2026/09/11 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Ionic Digital Inc. is covered by 2 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Gregory Lewis	BTIG
Jonathan Petersen	Jefferies LLC