Ionic Digital Soars 26% in Nasdaq Debut, Market Value Tops $2 Billion

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

The company's market value is now approximately $2.83 billion, based on 44.9 million outstanding shares.

Ionic Digital was created in January 2024 as part of Celsius Network's Chapter 11 case, and has been shifting its focus from Bitcoin mining to high-performance computing and AI infrastructure.

The company's main asset is a 234-megawatt facility in Texas leased to Nscale under a 126-month agreement, which is expected to produce approximately $1.95 billion in contracted revenue through January 2037.