Bitcoin miner and AI firm Ionic Digital valued at $2.25 billion in Nasdaq debut

Ionic Digital, a bitcoin miner and AI infrastructure provider, secured a valuation of about $2.25 billion after its shares fell in the Nasdaq debut on Tuesday.

Shares of the company, which went public through direct listing, opened at $50 apiece, down nearly 5.7% from a reference price of $53 set by the Nasdaq ‌on Monday.

The tepid ⁠debut ⁠underscores the volatility in global markets, with investors scrutinizing the need for aggressive spending ​to build out AI capabilities.