Bitcoin mining company Ionic Digital, formed from the restructured assets of Celsius Mining, submitted an application on Monday to register its shares with the U.S. Securities and Exchange Commission (SEC) for a direct listing on the Nasdaq exchange.
The common shares to be listed will be sold by existing shareholders, with Ionic Digital not raising new capital through the listing process.
The company did not disclose its anticipated timeline for the public debut.
The registered shareholders plan to sell up to 10.8 million common shares.
In June 2026, a group of institutional investors purchased Series A convertible preferred stock at a price of $53.00 per share.
At this price, Ionic Digital's market valuation would reach $2 billion.
Ionic Digital is a digital infrastructure company focused on developing and monetizing power data center assets.
The company owns and operates a landmark 234-megawatt facility in Ward County, Texas, which it leases under a 126-month triple-net lease agreement to Nscale, a global hyperscale data center operator.
Additionally, Ionic Digital maintains its remaining Bitcoin mining operations at smaller sites in Reagan and Glasscock counties in Texas and holds a Bitcoin treasury reserve, which it plans to use to support its broader development strategy.
The company emerged from the bankruptcy restructuring of Celsius Mining in January 2024.
Founded in 2024 and headquartered in Washington, D.C., the company generated revenue of $152 million for the 12-month period ended March 31, 2026.
The firm intends to list on the Nasdaq under the ticker symbol IOND.
As the transaction is structured as a direct listing without a firm commitment underwriting, there is no underwriter for the deal; JPMorgan will act as financial advisor.
Comments