Ionic Digital files for Nasdaq direct listing under IOND, pivots toward AI workloads
The Celsius-linked Bitcoin miner said the Nasdaq filing could create a public market for former Celsius creditors as it shifts from Bitcoin mining toward AI and high-performance computing infrastructure.
Ionic Digital, a Celsius-linked Bitcoin miner formed in 2024 through Celsius’s restructuring, has filed with the U.S. Securities and Exchange Commission for a direct listing on Nasdaq under the ticker IOND. The listing would not raise new capital, but would create a public trading market for existing shareholders, including former Celsius creditors who received Ionic shares through the bankruptcy plan. The company also said it has been shifting since 2025 from pure Bitcoin mining toward digital infrastructure supporting artificial intelligence and high-performance computing workloads, underscoring a broader industry push by miners to repurpose power, data center capacity and operating expertise for other compute-intensive businesses. A direct listing allows shares to begin trading publicly without a traditional underwritten initial public offering.
- direct listing: A public market debut in which existing shares begin trading without a traditional underwritten initial public offering or new capital raise.
- high-performance computing: Advanced computing used for intensive workloads such as artificial intelligence and large-scale data processing.
- bankruptcy plan: A court-approved restructuring framework that determines how assets, claims or new securities are distributed to creditors.