Celsius-linked Bitcoin miner and AI infrastructure company Ionic Digital debuted on the Nasdaq on Tuesday with a 26% gain, closing at $62.90 from an opening price of $50, giving it a market capitalization of approximately $2.8 billion based on about 44.9 million shares outstanding. Ionic was formed in 2024 to acquire Celsius Mining’s assets through the bankrupt crypto lender’s restructuring and has since expanded into AI and high-performance computing. IPO research firm Renaissance Capital said Ionic’s $2.4 billion implied market value at the $53 reference price made it the largest US direct listing since 2021. The stock pared some gains after the closing bell, falling 6.5% to $58.80 in after-hours trading.
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