Latest news with #WhiteFiber
Bloomberg
6 days ago
- Business
- Bloomberg
WhiteFiber Is Said to Have Raised $159.4 Million in Upsized US IPO
WhiteFiber Inc., an artificial intelligence infrastructure firm, raised $159.4 million in an initial public offering, pricing its shares at the top of a marketed range, according to a person familiar with the matter. The subsidiary of crypto treasury firm Bit Digital Inc. sold 9.4 million shares Wednesday for $17 each after marketing them for $15 to $17, said the person, who asked not to be identified because the information wasn't public yet.
Yahoo
23-07-2025
- Business
- Yahoo
Bit Digital's (BTBT) WhiteFiber Inc is Getting Ready for an IPO
Bit Digital, Inc. (NASDAQ:BTBT) is one of the . On July 16, Bit Digital, Inc. (NASDAQ:BTBT) announced that its subsidiary, WhiteFiber Inc., submitted a Form S-1 registration statement to the US Securities and Exchange Commission, as it prepares for launching an initial public offering. The size and price range of the offering are still to be determined. The IPO will only proceed after the SEC reviews and approves the registration, and if market conditions are appropriate. A team of technicians working on a server of bitcoin mining equipment in a data center. WhiteFiber aims to list its shares on the Nasdaq Capital Market, with the ticker symbol 'WYFI.' Moreover, B. Riley Securities and Needham & Company will manage the IPO process as joint bookrunners. Bit Digital, Inc. (NASDAQ:BTBT) provides high-performance computing infrastructure and digital asset services. Its subsidiary WhiteFiber offers GPU cloud services and operates HPC data centers that support demanding AI and machine learning workloads. While we acknowledge the potential of BTBT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
26-06-2025
- Business
- Yahoo
Bit Digital Exits BTC Mining to Focus Solely on ETH Staking Strategy
Bit Digital (BTBT) is changing course to become a dedicated ether ETH staking and treasury operation, the company said Wednesday. The New York-based firm will exit the bitcoin BTC mining business entirely, repurposing its assets and capital into its growing ETH strategy. The company began building its ether position and Ethereum staking infrastructure in 2022. As of March 31, Bit Digital held 24,434.2 ETH, valued at $44.6 million, and 417.6 BTC worth $34.5 million. It plans to convert the remaining bitcoin into ether over time. To fund the transition, Bit Digital has started a process to sell or wind down its bitcoin mining operations. Net proceeds from the divestiture will be reinvested in ether. No specific timeline was given for the sale or conversion of assets. The announcement marks a significant pivot for a company once rooted in bitcoin mining, especially considering the incredible run BTC has been on compared to ETH. The ETH/BTC ratio is down 75% since December 2021. However, the move isn't a big surprise given how tough the mining industry has become since last year's halving cut the BTC rewards for miners to half, squeezing profit margins, despite rally in bitcoin prices. The firm has also announced that it will be selling shares to fund the purchase of more ether, and that its high-performance computing (HPC) subsidiary, WhiteFiber, has submitted a draft registration letter with the Securities and Exchange Commission with regards to going public. BTBT is down 3.41% in after hours trading.
