Ionic Digital's Nasdaq Debut Sees Shares Soar 26%

Ionic Digital, the Bitcoin miner and AI infrastructure company linked to Celsius, made its Nasdaq debut on Tuesday. The company's shares closed at $62.90, giving it a market capitalization of around $2.8 billion. This is based on approximately 44.9 million shares outstanding, according to Ionic's registration statement filed with the US Securities and Exchange Commission.

Ionic Digital formed in 2024 through Celsius Mining's restructuring process. Since then, it has expanded its operations into AI and high-performance computing infrastructure. The company's direct listing on Nasdaq made it one of the largest in the US since 2021, according to IPO research firm Renaissance Capital.

Ionic Digital's shares climbed about 26% from their opening price of $50. However, they pared some of their gains after the closing bell, falling 6.5% to $58.80 in after-hours trading, according to Yahoo Finance.