Ionic Digital Valued at $2.25B After Weak Nasdaq Debut

Ionic Digital, a bitcoin mining and cloud infrastructure company, made its debut on the Nasdaq exchange at $50 per share, down nearly 5.7% from the reference price of $53 set on Monday.

The weak start reflects broader investor uncertainty around digital asset companies, with markets closely watching corporate spending priorities, particularly in areas linked to artificial intelligence infrastructure and high-performance computing.

Ionic Digital was created from the assets of Celsius Mining, a subsidiary of bankrupt crypto lender Celsius Network, which received US bankruptcy court approval for a restructuring plan in November 2023.