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

July 28 : 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 per cent 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."Ionic is expected to be the largest direct listing since 2021, having recently raised money at a roughly $2.4 billion valuation," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. A direct listing allows a company to list its shares on an exchange with