Ionic Digital made its public market debut on Nasdaq on July 28, and investors apparently liked what they saw. Shares opened at a reference price of $53 and climbed 9% by the close of the first trading session.
The ticker is IOND.
From bankruptcy wreckage to billion-dollar listing
Celsius Network, the crypto lending platform, filed for Chapter 11 bankruptcy in July 2022. Among the assets swept up in the restructuring was Celsius Mining LLC, a Bitcoin mining operation with real hardware, real power contracts, and real estate.
Ionic Digital was formed in January 2024 to house those mining assets. The restructuring transferred substantial physical assets to Ionic Digital, including Bitcoin miners, real estate, cash, and a Bitcoin treasury containing approximately 540 BTC.
