By Pragyan KalitaJuly 28 (Reuters) - 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. Music-streaming platform Spotify and data ​analytics firm ​Palantir are among the companies that ​went public through direct listing. In 2025, Ionic pivoted to AI and high-performance computing infrastructure, much like another bitcoin miner Hut 8, seeking to derive greater value from its power ‌assets. Soon after that, it signed a 10-year ​lease with AI cloud provider Nscale worth about $2 ​billion in contracted revenue.