Ionic Digital Shares Soar 26% on Nasdaq Debut as Company Shifts Focus to AI

Ionic Digital made a strong debut on the Nasdaq exchange, with its shares rising 26% from its opening price of $50 to close at $62.90 on July 28.

The company's market value increased to approximately $2.8 billion after it issued around 44.9 million outstanding shares.

Celsius creditors had received roughly 37 million Ionic shares as part of the lender's court-approved restructuring plan in November 2023.

Ionic Digital is shifting its focus from Bitcoin mining towards AI infrastructure, with a 234-megawatt facility in Texas leased to Nscale under a 126-month agreement that could generate up to $2.6 billion in revenue by January 2037.