Celsius-Linked Miner Ionic Digital Surges 26% on First Trading Day, Reaching a Market Cap of Approximately $2.8 Billion

July 29th, Ionic Digital, a Bitcoin mining enterprise and AI infrastructure company that emerged from the restructuring of the bankrupt crypto loan platform Celsius, completed a direct listing on the Nasdaq. The company's stock opened at $50, closed at $62.90, rising approximately 26% from the opening price, with a market capitalization of about $2.8 billion.

Founded in 2024, Ionic Digital underwent a restructuring by acquiring Celsius Mining assets and later expanded into the AI and High-Performance Computing (HPC) infrastructure sector. According to IPO research firm Renaissance Capital, based on Nasdaq's $53 reference price, the company has an implied valuation of around $2.4 billion, making it the largest direct listing case in the United States since 2021. After hours, Ionic Digital's stock price fell 6.5% to $58.80.