Celsius-linked Bitcoin miner Ionic Digital gains 26% in Nasdaq debut
Summary
Ionic Digital rose about 26% from its opening price in its Nasdaq debut after completing a direct listing. Shares opened at $50 and closed at $62.90, valuing the Celsius-linked Bitcoin miner and AI infrastructure company at about $2.8 billion based on 44.9 million shares outstanding. Formed in 2024 to acquire Celsius Mining’s assets during the crypto lender’s bankruptcy restructuring, Ionic has since expanded into AI and high-performance computing infrastructure. At Nasdaq’s $53 reference price, its $2.4 billion implied market value made it the largest US direct listing since 2021, according to Renaissance Capital. After hours, the stock gave back some gains and fell 6.5% to $58.80.
