Bitcoin mining companies and AI infrastructure firm Ionic Digital saw its stock price soar 25% on its first day of listing on Nasdaq

PANews July 29: According to The Block, Bitcoin mining firm and AI infrastructure company Ionic Digital surged more than 25% on its first day of direct listing on Nasdaq. The stock price is close to $63, implying a valuation of about 2.75B.

The company was founded in January 2024. It acquired most of the mining assets in Celsius Network’s bankruptcy restructuring, including mining rigs, infrastructure, about $195 million in cash, and 540 BTC. Hut 8 initially managed Ionic’s mining operations under a four-year agreement, but less than a year later Ionic terminated the agreement and took over the mining facilities directly, while Hut 8 retained a minority stake. In 2025, Ionic expanded into AI and high-performance computing infrastructure. It signed a 10-year lease with AI cloud provider Nscale; after the February revision, contract revenue could rise to 2.6B from nearly 2B. The company is still mining at four mining sites in Texas. Its output in May was nearly 25 BTC. It currently holds 2,861 BTC, ranking about 28th among Bitcoin holders at the time of listing.