Bit Digital Extends $100M Loan to WhiteFiber for AI Expansion, Backed by Ethereum
BTBT sits 58% above its 52-week low of $1.25.
Summary
Bit Digital is extending a $100 million delayed-draw term loan facility, expandable to $150 million, to its majority-owned subsidiary, WhiteFiber. This financing supports WhiteFiber's AI infrastructure and high-performance computing expansion initiatives. The loan is expected to be funded through an Ethereum-denominated secured credit facility, allowing Bit Digital to retain ETH exposure while earning a financing spread. This follows an 8-K filed yesterday disclosing a loan of up to $150 million to WhiteFiber and reinforces Bit Digital's strategic pivot from Bitcoin mining to AI infrastructure.
At the time of this announcement, BTBT was trading at $1.98 on NASDAQ in the Technology sector, with a market capitalization of approximately $708.9M. The 52-week trading range was $1.25 to $4.55. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: The Block.