Ionic Digital, a Spinoff of Celsius Network, Lists on Nasdaq with $2.8 Billion Market Cap
Ionic Digital, formed from the assets of bankrupt crypto lender Celsius Network, made its debut on the Nasdaq following a direct listing in July 2026. The company closed at $62.90 after opening at $50 and achieved an approximate valuation of $2.8 billion based on SEC filings. However, it saw some post-market decline to around $58.80. Ionic’s market cap made it the largest U.S. direct listing since 2021, according to Renaissance Capital. The company was established in 2024 and has expanded into AI infrastructure alongside Bitcoin mining operations inherited from Celsius Mining's bankruptcy restructuring. Its entry adds a significant data point for the broader $69 billion Bitcoin mining sector. The stock’s performance reflects ongoing investor interest in companies combining traditional crypto mining with high-performance computing (HPC) and AI services, though past volatility remains a concern.
Topics: Bitcoin mining crypto direct_listing stocks