WhiteFiber Secures $100 Million Credit Facility for Data Center Expansion
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Key Takeaways
- WhiteFiber entered a $100 million delayed draw term loan agreement with Bit Digital Capital.
- The credit facility includes an option to increase the total borrowing capacity to $150 million.
- Proceeds are intended to finance the NC-1 high-performance computing data center in North Carolina.
- B. Riley Securities participated in the transaction by purchasing a portion of the term loans.
On Wednesday, WhiteFiber, Inc. (Nasdaq: WYFI) disclosed the arrangement of a $100 million delayed draw term loan through Bit Digital (NASDAQ: BTBT) Capital, Inc., which operates as a subsidiary of Bit Digital, Inc. (Nasdaq: BTBT). The financing also involved B. Riley Securities, Inc., which acquired a segment of the term loans. The contract allows for the total facility to be expanded to $150 million, provided both entities agree to the increase.
The company plans to utilize the capital to fund the development of its NC-1 high-performance computing site in North Carolina and to bolster its cloud service offerings. This facility is intended to address immediate financing requirements as WhiteFiber scales its infrastructure to meet growing demand in the high-performance computing and data center sectors.
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