Is IOND halal?
Ionic Digital Inc.
Doubtful
No clear verdict is possible for Ionic Digital Inc. — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 14 October 2026
Exchange
NASDAQ
Price
62.81
Day
-4.24%
Market cap
$3.22B
Industry
Capital Markets
Sector
Financial Services
Manually identified reason
Automatic screening reads the industry label, not what's inside. This company's filings were checked by hand and a hidden prohibited activity was found:
Doubtful: crypto — Bitcoin mining (IonDrive); scholarly disagreement + share/interest nature unclear
What the company does
Ionic Digital (founded 2024) is a digital-infrastructure and Bitcoin-mining company, leasing compute to hyperscalers and enterprises for AI. Its money comes from compute leasing and mining (checked by the screener).
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Doubtful: crypto — Bitcoin mining (IonDrive); scholarly disagreement + share/interest nature unclear
Interest-bearing debt / market cap
limit 30%
0.0%
Pass
Cash & investments / market cap
limit 30%
18.2%
Pass
Non-compliant income / total revenue
limit 5%
0.9%
Pass
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Related articles
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- Halal investingBlogWhy does a stock's halal status change?A stock that was halal yesterday can leave the list today. The four main reasons — and why none of them is a bug.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.