In crypto stocks news, Ionic Digital, the Bitcoin miner and AI infrastructure company that emerged from the wreckage of Celsius Network’s bankruptcy, climbed roughly 26% on its Nasdaq debut Tuesday, closing at $62.90 after opening at $50 and printing a market cap of approximately $2.8Bn, according to its registration statement filed with the US SEC.
The stock pared some of those gains in after-hours trading, falling 6.5% to $58.80, according to Yahoo Finance. That pullback is worth noting: a strong open does not guarantee a clean trend, and investors in Bitcoin mining names know that first-day enthusiasm can fade quickly.
This news dropped as Bitcoin climbed +1.6% overnight, reclaiming $64K and hitting $64,350 ahead of today’s FOMC rate-hike meeting in the US. Daily trading volume for BTC USD sits at $24.9Bn.
NEW: Bitcoin miner Ionic Digital records 26% in Nasdaq debut. pic.twitter.com/x6pe6xu97W
— Bitcoin News (@BitcoinNewsCom) July 29, 2026
Crypto Stocks: Ionic is the Largest US Direct Listing Since 2021
Ionic did not conduct a traditional IPO – no new primary shares were sold, and no investment bank set a book price through roadshow demand. Instead, it used a direct listing, a structure where existing shareholders sell directly into the open market. IPO research firm Renaissance Capital said Ionic’s implied market value of $2.4 billion at Nasdaq’s $53 reference price made it the largest US direct listing since 2021, a cohort that previously included high-profile technology names.
The company was formed in 2024 to acquire Celsius Mining’s assets through the bankrupt crypto lender’s court-approved restructuring and has since expanded into AI and high-performance computing (HPC) infrastructure. For broader context on that day’s crypto market conditions, Bitcoin was trading near $64,480 on the same session.
What This Means for Bitcoin Mining Stocks
(SOURCE: CompaniesMarketCap.com)
Ionic’s debut adds a notable data point to the Bitcoin mining sector. The direct listing structure, combined with a $2.8Bn close valuation and approximately 44.9 million shares outstanding per the SEC filing, gives the market concrete figures to work with.
Several Bitcoin miners have been expanding into AI and HPC infrastructure alongside their core mining operations. Ionic’s debut reflects continued public market interest in companies pursuing that combined model, though the Bitcoin mining stock sector has seen companies face significant challenges on public markets in the past.
The Bitcoin mining sector is valued at around $69Bn, with IREN, Hut 8, and TeraWulf the most valuable, accounting for more than $32Bn of that total. Once the table is updated, Ionic will likely enter the top 10, replacing Bitfarms in the number 10 spot.
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The post Crypto Stocks: Celsius Spinoff Ionic Digital Hits $2.8Bn Valuation Following Nasdaq Listing appeared first on 99Bitcoins.
