Ionic Digital lists on Nasdaq under ticker IOND

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Ionic Digital, the former Celsius Mining offshoot, plans a Nasdaq direct listing on July 28 under the ticker IOND with a $53 reference price that values the company at about $2.4 billion. The company raised $400 million in June at the same per-share price for its Series A convertible preferred stock, and will make up to 10.8 million existing shares available to sell. Ionic pivoted from bitcoin mining to long-term digital infrastructure leases, including a 10-year, 323 MW contract with Nscale that promises $1.95–2.0 billion in contracted revenue, while it projects 2026 revenue of $190–195 million and adjusted EBITDA of $36–37 million.

Ionic will list on Nasdaq with a $53 reference price.