The former Celsius-linked Bitcoin miner Ionic Digital is seeking a direct listing on Nasdaq, signaling its shift towards artificial intelligence and high-performance computing infrastructure. This mov
Ionic Digital, formerly linked to Celsius, has filed for a direct listing on Nasdaq as it transitions into an AI-infrastructure company. The filing aims to establish a public market for existing shareholders, including those who received shares through the bankruptcy of Celsius. Ionic intends to lease its 234-megawatt mining facility in Texas to Nscale for $197 million over 10 years.
Founded in 2024, Ionic Digital acquired assets from Celsius Mining during restructuring. In early 2025, the company began repositioning itself as a digital infrastructure provider focusing on AI and high-performance computing (HPC). By October 2025, it secured a lease agreement with Nscale worth nearly $2 billion for its Texas facility.
The shift in strategy has impacted Ionic Digital's financial performance. In Q1 of 2026, the company reported $44 million from digital infrastructure leasing compared to just $7.4 million from Bitcoin mining revenue, down by 82% year-over-year. This change reflects a significant repurposing effort as Ionic seeks to capitalize on emerging AI demands.
The Nasdaq listing will not raise new capital but provide liquidity for existing shareholders, including former Celsius creditors who received shares during the restructuring process. Additionally, Ionic recently completed an $400 million equity private placement aimed at supporting its ongoing development of digital infrastructure assets.
This move by Ionic Digital highlights a broader trend in the cryptocurrency space where traditional mining operations are adapting to new market demands. As AI and HPC become more critical for various industries, companies like Ionic see opportunities beyond just Bitcoin mining.
Traders should monitor how this listing impacts the overall valuation of digital infrastructure assets within the crypto ecosystem. The success or failure could set precedents for other miners considering similar transitions.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.