Ionic Digital Makes Nasdaq Debut as AI Infrastructure Play

Crypto mining company Ionic Digital has made its debut on the Nasdaq exchange after a direct listing, trading under the ticker IOND. The company's shares opened at $50 and reached a high of $62.90, closing the day around that level for a gain of approximately 25.8% from the opening reference price.

Ionic Digital was formed in January 2024 to house the assets of Celsius Network, including mining hardware, power contracts, and real estate, after Celsius filed for Chapter 11 in July 2022. The company has since pivoted towards AI infrastructure development, aiming to attract high-performance computing (HPC) customers.

Ionic Digital is currently operating mining facilities producing approximately 12.2 exahashes per second of hash rate and developing a 234 megawatt facility in Texas targeting AI cloud compute customers with $195 million in forecast revenue for 2026.