Crypto
Iondic Digital Debuts on Nasdaq with 26% Jump
Ionic Digital, a Washington D.C.-based company formed from Celsius Network's bankruptcy, made its Nasdaq debut on July 29, 2026. The bitcoin miner rose 26% on its first day of trading, valuing the company at $2.8 billion.
The direct listing saw Ionic sell no new shares and raise no income. Instead, it issued 37 million shares to eligible claimholders against Celsius Network and its affiliates.
Ionic has pivoted from bitcoin mining to powering AI calculations. It decommissioned its Ward County, Texas site in December and committed its 234 MW capacity to Nscale under a 126-month lease carrying $1.95 billion in contracted revenue.