Ionix Digital Valued at $2.75B After Nasdaq Debut

Ionix Digital Inc., formerly Celsius mining business, made its Nasdaq debut on Tuesday and saw its stock jump over 25 percent from its opening price of $50 to nearly $63. This brings the company's implied valuation to around $2.75 billion.

The shares opened below the reference price set by Nasdaq at $53, but quickly rose as Ionic Digital did not issue new stock in the transaction and received no proceeds from sales by existing shareholders.

Ionic Digital was formed through Celsius Network's bankruptcy restructuring in January 2024. It took control of most of Celsius Mining's assets, including bitcoin mining equipment, $195 million in cash, and 540 BTC valued at around $35 million at the time.