WhiteFiber announced that it has secured a $100 million delayed draw term loan facility with Bit Digital Capital, a wholly owned subsidiary of Bit Digital. The facility includes the potential to expand to $150 million through mutual agreement between the parties. In addition, B. Riley Securities purchased a portion of the term loans under the facility.
The financing is designed to provide WhiteFiber with additional flexibility as it pursues near-term growth initiatives across its data center and cloud services operations. The company said the facility will help bridge timing gaps between the launch of projects and the completion of associated permanent financing arrangements.
WhiteFiber CEO Sam Tabar said the company continues to advance non-dilutive permanent financing solutions, including its recently expanded and amended credit facility with the Royal Bank of Canada. He also noted ongoing progress toward securing permanent financing for the company’s NC-1 project, which is expected to be completed in the near term.
The proceeds from the facility are expected to be used for general corporate purposes, including supporting the buildout of the first phase of a high-performance computing data center in Madison, North Carolina, which is being developed by company affiliates. The funds may also be directed toward other growth initiatives.
WhiteFiber provides AI infrastructure solutions through a vertically integrated platform that includes high-performance computing data centers, colocation services, hosting, and cloud offerings designed for generative AI workloads.
KEY QUOTE:
“This facility gives WhiteFiber added flexibility to pursue near-term growth initiatives by bridging timing gaps between the start of a project and closing its associated permanent financing. Meanwhile, we continue to advance non-dilutive permanent financing solutions, including our recently expanded and amended credit facility with the Royal Bank of Canada, and ongoing progress on the permanent financing for NC-1, which we continue to expect to be completed in the near-term. Our focus remains on disciplined execution, bringing contracted capacity online, and building a scalable infrastructure platform for the next generation of AI workloads.”
Sam Tabar, Chief Executive Officer, WhiteFiber
