The Bitcoin mining and AI infrastructure company Ionic Digital, formed through the asset restructuring of the bankrupt crypto lending platform Celsius, debuted on Nasdaq via direct listing, closing up approximately 26% on its first day at $62.90. According to the SEC registration statement, its opening price was $50, and with approximately 44.9 million outstanding shares, its market cap is estimated at $2.8 billion. IPO research firm Renaissance Capital noted that based on Nasdaq's reference price of $53, its implied market cap of $2.4 billion makes it the largest direct listing in the U.S. since 2021. Ionic was initially established in 2024 through Celsius' bankruptcy restructuring to acquire its mining assets and has since expanded into AI and high-performance computing infrastructure. (Cointelegraph) https://www.(wublock123.com)/news/news-65519