Ionic Digital (IOND) surged over 25% during its Nasdaq debut on July 28. Shares opened at $50 following a direct listing with a $53 reference price. The stock traded near $63 by the session close, giving the company an implied valuation of approximately $2.75 billion.
The firm emerged in January 2024 from the assets of bankrupt Celsius Mining. This public listing provides liquidity for former Celsius creditors who received equity through the bankruptcy resolution.
Ionic Digital is expanding beyond bitcoin mining into AI and high-performance computing. The company signed a 10-year lease with AI cloud provider Nscale. This agreement represents nearly $2 billion in contracted revenue.