AdvertisementAdvertisementBusiness29 Jul 2026 12:05AM (Updated: 29 Jul 2026 12:19AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST July 28 : Ionic Digital, a bitcoin miner and cloud infrastructure provider, was valued at about $2.25 billion after its shares fell in their Nasdaq debut on Tuesday.The stock opened at $50 apiece, down nearly 5.7 per cent from a reference price of $53 set by the Nasdaq on Monday.A direct listing allows a company to list its shares on an exchange without raising new capital or issuing new stock, letting existing shareholders sell their holdings.Notable companies that went public through direct listings include music-streaming platform Spotify and data analytics firm Palantir.Ionic's tepid debut underscores the volatility in global markets, with investors scrutinizing the need for further corporate spending on AI infrastructure.The company was formed from the assets of Celsius Mining, a subsidiary of Celsius Network, which received U.S. bankruptcy court approval for a restructuring in November 2023.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST