Celsiuslinked Bitcoin miner Ionic gains 26% on Nasdaq
Celsiuslinked Bitcoin miner Ionic Digital climbed about 26% in its Nasdaq debut Tuesday, closing at $62.90 after a direct listing. The Bitcoin mining and AI infrastructure company finished with a market capitalization of about $2.8 billion, according to Cointelegraph reporting on the debut session.
Key Takeaways
- Ionic Digital shares rose about 26% from the open, closing at $62.90 on Nasdaq after a direct listing.
- The close implied a market capitalization of about $2.8 billion on roughly 44.9 million shares outstanding.
- Ionic was formed in 2024 to acquire Celsius Mining assets from the bankrupt lender’s restructuring and has expanded into AI and high-performance computing.
- Renaissance Capital said the $2.4 billion implied value at Nasdaq’s $53 reference price made it the largest US direct listing since 2021.
- After-hours trading pared gains, with the stock down 6.5% to $58.80, according to Yahoo Finance.
What happened in Ionic Digital’s Nasdaq debut?
Ionic Digital, the Celsiuslinked Bitcoin miner Ionic and AI infrastructure company, completed a Nasdaq direct listing on Tuesday. Shares opened at $50 and closed at $62.90, a gain of about 26% from the opening price, Cointelegraph reported.
That close gave Ionic a market capitalization of about $2.8 billion based on approximately 44.9 million shares outstanding, according to its registration statement filed with the US Securities and Exchange Commission.
The debut session therefore moved the Celsiuslinked Bitcoin miner Ionic well above its $50 open by the regular close, before after-hours trading trimmed part of the gain.
Why does the Celsius link and AI pivot matter?
Ionic was formed in 2024 to acquire Celsius Mining’s assets through the bankrupt crypto lender’s restructuring. Since then, the company has expanded beyond mining into AI and high-performance computing infrastructure.
That history ties the Celsiuslinked Bitcoin miner Ionic listing to the Celsius restructuring, while the AI and HPC expansion shows the firm has moved beyond pure Bitcoin mining.
Cointelegraph described Ionic as a Bitcoin miner and AI infrastructure company, underscoring that both lines of business framed the Nasdaq debut narrative.
How large was the listing versus other US direct listings?
IPO research firm Renaissance Capital said Ionic’s $2.4 billion implied market value at Nasdaq’s $53 reference price made it the largest US direct listing since 2021. The session’s close pushed the capitalization figure higher, to about $2.8 billion.
After the closing bell, the stock gave back some of those gains, falling 6.5% to $58.80 in after-hours trading, according to Yahoo Finance.
Together, the open, close, reference-price valuation, and after-hours print map the first public trading day for the Celsiuslinked Bitcoin miner Ionic on Nasdaq. For more market and crypto equity coverage, follow BlasterPost’s Fintech & Crypto Alerts desk.