Ionic Digital Surges 26% on Nasdaq Debut, Valued at $2.8 Billion

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Ionic Digital, a bitcoin mining company, made a strong stock market debut on the Nasdaq, with its shares jumping 26% on the first day of trading. The company reached a market valuation of approximately $2.8 billion, based on its 44.9 million shares outstanding. The listing provides a significant exit opportunity for creditors of the collapsed crypto lender Celsius Network, who became stakeholders in Ionic Digital as part of Celsius's bankruptcy resolution. The public debut marks a notable milestone for those claimholders, allowing them to convert their holdings into publicly traded equity.

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