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Ionic Digital jumps 26% in Nasdaq debut after direct listing

The Celsius-linked Bitcoin miner closed at $62.90, valuing it at about $2.8 billion based on roughly 44.9 million shares outstanding.

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Ionic Digital, a Celsius-linked Bitcoin miner and AI infrastructure company, rose about 26% on its Nasdaq debut after completing a direct listing on Tuesday, according to Cointelegraph.

The stock opened at $50 and closed at $62.90, which implied a market capitalization of about $2.8 billion based on approximately 44.9 million shares outstanding, based on figures in its registration statement filed with the US Securities and Exchange Commission.

Cointelegraph added that Ionic was formed in 2024 to acquire Celsius Mining’s assets through the bankrupt crypto lender’s restructuring, and it has since expanded into AI and high-performance computing infrastructure.

Renaissance Capital said Ionic’s $2.4 billion implied market value at Nasdaq’s $53 reference price made it the largest US direct listing since 2021, and the shares later pared gains, falling 6.5% to $58.80 in after-hours trading, per Yahoo Finance.

Latest closeBitcoin $63,718.22 ▼0.0%|Nasdaq Comp. 24,876.91 ▼0.2%

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