Celsius claimholders get liquidity as Ionic Digital jumps 26% in Nasdaq debut
The bitcoin miner reached a market valuation of roughly $2.8 billion based on its 44.9 million outstanding shares.
YayaNews contributes financial news and market context through the YayaNews editorial workflow.
The bitcoin miner reached a market valuation of roughly $2.8 billion based on its 44.9 million outstanding shares.
Celsius claimholders get liquidity as Ionic Digital jumps 26% in Nasdaq debut
Finance
Ionic Digital jumps 26% in Nasdaq debut, giving Celsius Network claimholders an exit route
The bitcoin miner reached a market valuation of roughly $2.8 billion based on its 44.9 million shares outstanding.
By
Francisco Rodrigues
|
Edited by
Sheldon Reback
Jul 29, 2026, 9:22 a.m.
2
min read
Make
preferred on
Share
Share this article
Copy link
X icon
X (Twitter)
Make
preferred on
Ionic Digital surged 26% on its Nasdaq debut. (Anne Nygård/Unsplash)
Summary
Show
Bitcoin miner Ionic Digital surged 26% on its Nasdaq debut following the exchange’s largest direct listing since 2021.
The listing gives an exit route to investors who received stock in the company following Celsius Network’s bankruptcy.
Ionic, which is pivoting to AI, completed a direct listing rather than an IPO and holds 2,815.6 bitcoin. It projected $195 million in revenue for the year.
Ionic Digital (IOND), the bitcoin miner formed out of Celsius Network’s bankruptcy, rose 26% on its Nasdaq debut, valuing the company at $2.8 billion following
the exchange’s largest direct listing since 2021
.
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.
The shares opened at $50 on Tuesday and closed at $62.90. The close was 19% above Nasdaq’s $53 reference price, according to
FactSet data published by The Wall Street Journal
. At the reference price, Ionic was valued at $2.4 billion, according to
Renaissance Capital
.
Ionic issued “37 million shares of Class A common stock to eligible holders of certain claims against Celsius Network and its affiliates,” according to its
registration statement
.
It raised $400 million in June through a private placement of convertible preferred shares and warrants. The preferred shares, priced at $53 each, converted into common stock upon completion of the listing. Investors agreed not to transfer the securities below $70 until six months after the listing, according to the filing.
Ionic decommissioned bitcoin mining at its Ward County, Texas, site in December and committed its 234 MW of capacity to Nscale under a 126-month lease carrying $1.95 billion in contracted revenue, according to the registration statement.
The company
said it expects
as much as $195 million in revenue this year, with more than 90% coming from infrastructure leasing. It held 2,815.6 bitcoin worth $192.1 million and had no debt as of March 31.
Crypto News
Bitcoin Mining
Latest Crypto News
1
Russia charges Telegram founder Pavel Durov with aiding terrorism
39 minutes ago
2
SpaceX is a battleground Solana must win
1 hour ago
3
Live updates: Bitcoin clears $64,000 in Asia hours ahead of Fed decision
3 hours ago
4
Company behind AI trade that caused $60 million crypto liquidations to cover all losses
3 hours ago
5
Citadel bets on a Fed rate hike Wednesday as bitcoin analysts call a hold. Someone will be wrong.
4 hours ago
6
Bitcoin rises toward $64,000 as Korea's record chip crash leaves crypto untouched
4 hours ago
7
Coinbase wants to be Canada’s ‘everything exchange,’ but says clearer rules are needed first
9 hours ago
8
'Anything remotely dovish' from Fed could be good for bitcoin, says analyst
13 hours ago
9
Ondo drops tokenized asset blockchain plans for private, high-speed trading network
14 hours ago
10
Wall Street veteran Don Wilson says regulators are getting perps all wrong
16 hours ago
Latest Research
Crypto Flows, Share and the Selective Rotation
Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
By
CoinDesk Research
Jul 22, 2026
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters
:
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
View Full Report
More From
Finance
Ondo drops tokenized asset blockchain plans for private, high-speed trading network
Hyperliquid is taking crypto perps deep into DeFi’s ‘money LEGO’ land
Core Scientific lands AMD AI deal as bitcoin mining operation winds down
Crypto
CD20
$1,750.65
CD20 up 1.74 percent
1.74%
BTC
$64,482.68
BTC up 1.81 percent
1.81%
ETH
$1,917.58
ETH up 2.29 percent
2.29%
XRP
$1.09
XRP up 2.99 percent
2.99%
SOL
$73.99
SOL up 1.10 percent
1.10%
Original YayaNews editorial coverage, published for informational purposes.
This article is sourced from CoinDesk. It is for informational purposes only and does not constitute investment advice.
Topics & Symbols
Continue Reading
Related Reading
Russia charges Telegram founder Pavel Durov with aiding terrorism
The charges could result in life imprisonment, escalating an investigation that has already led to over 100 million rubles in fines for the platform this year.
FOMC preview: Citadel bets on a Fed rate hike Wednesday as bitcoin (BTC) analysts call a hold.
Citadel is betting the Fed hikes rates Wednesday while consensus expects a hold — a contrarian call built on timing, not data, that could jolt bitcoin and Treasury yields alike.
Crypto firm to cover $60 million losses after SK Hynix flash crash on Hyperliquid
The mark price fell 19% on a single pre-market trade in Korea. The company says its oracle worked exactly as designed.
Live updates: Bitcoin clears $64,000 in Asia hours ahead of Fed decision
Markets price a hold at Wednesday's decision, but a real minority sees a surprise hike, with Citadel Securities and UBS among those flagging the risk.