Ionic Digital jumps 26% in Nasdaq debut, giving Celsius Network claimholders an exit route
Ionic Digital, a company formed to acquire Celsius Network's mining assets, debuted on the Nasdaq via a direct listing, closing 19% above its reference price. The firm is shifting its business model from bitcoin mining to providing infrastructure for AI calculations through a long-term lease of its Texas facility.
The Washington D.C.-based company, which is pivoting to power AI calculations, was created in January 2024 to acquire Celsius’ mining assets under the bankrupt lender’s court-approved reorganization. As a direct listing rather than an initial public offering, the company sold no new shares and received no income.
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