WhiteFiber, a provider of AI infrastructure and high-performance computing solutions, entered into a $100 million delayed draw term loan facility with Bit Digital Capital, a wholly owned subsidiary of Bit Digital. The facility may be increased to $150 million upon mutual agreement of the parties. B. Riley Securities purchased a portion of the term loans under the facility from Bit Digital Capital.
The facility is intended to provide WhiteFiber with additional financial flexibility to support near-term growth initiatives in both its data centers and cloud services businesses.
“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,” Sam Tabar, CEO of WhiteFiber, said. “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.”
The facility is structured as a delayed draw term loan facility. The company intends to use the proceeds for general corporate purposes, which may include the completion of the buildout of the first phase of an HPC data center located in Madison, North Carolina, being developed by affiliates of the company, subject to the timing of the closing of permanent financing, as well as other growth initiatives.
