Celsius-linked Bitcoin miner Ionic Digital lists at $2.8 billion market cap after climbing from a $50 opening price.
Ionic Digital, a Bitcoin miner and AI infrastructure firm tied to Celsius, closed at $62.90 in its Nasdaq debut, up 26% from its $50 opening price. The direct listing values the company at approximately $2.8 billion, based on 44.9 million shares outstanding.
The company, formed in 2024 to acquire Celsius Mining’s assets through the bankrupt lender’s restructuring, has since expanded into AI and high-performance computing. Its $2.4 billion implied market value at Nasdaq’s $53 reference price marks the largest U.S. direct listing since 2021.
Shares pared gains in after-hours trading, falling 6.5% to $58.80.