Ionic Digital Lists on Nasdaq as Bitcoin Miner Turned AI Infrastructure Player

Ionic Digital has made history by going public on the Nasdaq Global Select Market through a direct listing, trading under the ticker 'IOND'.

The company's Class A common stock started trading on July 28, with a reference price set at $53 per share. Ionic opened at $50 before closing its first day at $62.90, representing an increase of almost 26 percent from the opening price.

This milestone marks a significant moment in Ionic Digital's journey as it continues to transition towards high-performance computing (HPC) and AI infrastructure. The company has secured a $400 million equity investment from a group including Attestor, Oaktree Capital Management, Sachem Head Capital Management, Citadel, and Weiss Asset Management.

Ionic was formed in 2024 through the acquisition of Celsius Mining's assets following the bankruptcy of parent company Celsius Network. The company operates several Bitcoin mining facilities in West Texas but has increasingly shifted its attention towards data center infrastructure for AI and HPC workloads.