B. Riley Securities (BRS) has assumed a $20 million advance under a $100 million senior secured delayed draw term loan facility originated by Bit Digital to Enovum NC-1 Venture, an indirect wholly-owned subsidiary of WhiteFiber.
Through an assignment and assumption agreement, BRS became a lender of record on the same economic terms as the lead lender, capitalizing on an attractive risk-adjusted yield in the growing digital infrastructure sector. This 90-day assigned advance is expected to bridge the borrower to its anticipated permanent institutional financing. The borrower intends to use the facility for general corporate purposes, which may include the completion of the buildout of the first phase of a HPC data center located in Madison, North Carolina, being developed by affiliates of WhiteFiber, subject to the timing of the closing of permanent financing, as well as other growth initiatives.
“This transaction solves a dual-sided credit need: unlocking critical liquidity for underserved, high-catalyst operators scaling next-generation data center infrastructure, while capturing high-quality, asset-backed yields for our platform,” Bryant Riley, executive chairman of BRS, said. “This financing addresses a specific market gap we are uniquely suited to fill. Traditional lenders are often not structured for shorter-term facilities of this nature and lack the longer-term investment in corporate relationships that serves as our guiding principle.”
Andy Moore, CEO of BRS, said, “Our deep, multi-year relationship with the Bit Digital and WhiteFiber management teams allowed B. Riley Securities to execute this transaction with speed and precision. This transaction is a testament to our platform’s ability to bring flexible capital, speed, and trusted relationships to bear for clients at their most critical inflection points.”
