Celsius-Linked Bitcoin Miner Ionic Digital Jumps 26% in Nasdaq Debut
Ionic Digital, the bitcoin mining company built from the wreckage of Celsius’s bankruptcy, just had its first day as a public company — and the market seemed to like what it saw.
The Numbers From Debut Day
- Stock surge: shares jumped roughly 25-26% on debut, trading near $63.
- Implied valuation: approximately $2.75 billion after the debut-day gain.
- Listing type: a direct listing on the Nasdaq Global Select Market under the ticker IOND, meaning no new capital was raised in the process itself.
- 2026 revenue forecast: up to roughly $195 million.
- Mining capacity: still operates about 12.2 exahashes of bitcoin mining infrastructure.
From Bankruptcy to Nasdaq
Ionic Digital emerged from the January 2024 bankruptcy of Celsius Mining, formed specifically to manage the bitcoin mining fleet left behind after Celsius’s collapse. Getting from a bankruptcy estate to a Nasdaq-listed company in roughly two and a half years is a fast turnaround by any standard, and the direct listing followed a June 2026 Series A round that raised $400 million at $53 per share, implying a $2 billion valuation even before the public debut.
Betting on AI, Not Just Mining
Like several other bitcoin miners over the past two years, Ionic’s growth story leans heavily on artificial intelligence infrastructure rather than mining alone. The company has signed a 126-month contract with AI infrastructure firm Nscale worth roughly $1.95 billion, a deal that dwarfs what its existing mining operation generates and signals where management expects future growth to actually come from.
That pattern, a bitcoin miner using its power infrastructure and real estate to court AI compute customers, has become common enough across the sector that it’s no longer a novelty; it’s closer to the default strategy for miners looking to diversify beyond bitcoin’s own price cycles.
How Does Bitcoin Mining Actually Work?
Stories like this only make sense once you understand what miners actually do. The Bitcoin Academy explains mining from the ground up.
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