Ionic Digital shares climbed about 26% from their opening value of their Nasdaq debut Tuesday after the Celsius-linked Bitcoin miner and AI infrastructure firm accomplished its direct itemizing.
The shares opened at $50 and closed at $62.90, giving Ionic a market capitalization of about $2.8 billion based mostly on roughly 44.9 million shares excellent, in response to its registration assertion filed with the US Securities and Alternate Fee.
Ionic was fashioned in 2024 to amass Celsius Mining’s property via the bankrupt crypto lender’s restructuring and has since expanded into AI and high-performance computing infrastructure.
IPO analysis agency Renaissance Capital stated Ionic’s $2.4 billion implied market worth at Nasdaq’s $53 reference value made it the most important US direct itemizing since 2021.
The inventory pared a few of its features after the closing bell, falling 6.5% to $58.80 in after-hours buying and selling, in response to Yahoo Finance.
