WhiteFiber, the wholly-owned HPC subsidiary of Bit Digital, entered into a definitive credit agreement with the Royal Bank of Canada (RBC) to finance its data centers business. The facility provides up to C$60 million in aggregate financing. Proceeds will be used to support the continued buildout of WhiteFiber’s Tier-3 AI data center portfolio.
The credit agreement, among RBC and ENOVUM Data Centers Corp. and its Montreal II project as borrowers and guarantors, is non-recourse to WhiteFiber or Bit Digital. It encompasses a real estate term loan, equipment financing and a revolving facility. The facilities carry interest rates of CORRA plus 250 bps and a 3-year term.
“This financing is a breakthrough for WhiteFiber and our sector,” Sam Tabar, CEO of WhiteFiber, said. “No other company operating at the intersection of HPC Cloud and data centers has secured financing of this nature, to our knowledge. We believe that this is a strong endorsement of our business model, the quality of our assets, balance sheet and ability to execute. It also reflects our ongoing efforts to unlock non-dilutive capital and scale data center infrastructure to meet growing demand for AI compute. We’re grateful to RBC for their support and partnership as we continue advancing our strategic priorities.”
