WhiteFiber, a carve-out of Bit Digital that operates data centers to provide cloud services, filed on Friday with the SEC to raise up to an estimated $100 million in an initial public offering.
WhiteFiber calls itself a leading provider of artificial intelligence (AI) infrastructure solutions, stating that its high-performance computing (HPC) data centers provide cloud-based services that rely on NVIDIA GPUs. The company expanded significantly last year with its acquisition of Canada-based Enovum, and this year has expanded its Montreal-area operations, in addition to recent plans to build out a North Carolina data center.
WhiteFiber is following in the footsteps of AI-focused data center operator CoreWeave (CRWV), which IPO'd in March, and closed Friday more than 200% above its offer price. CoreWeave made news this week for agreeing to buy Core Scientific (CORZ), a Bitcoin miner that also provides cloud services, for $9 billion in an all-stock deal.
Parent Bit Digital (Nasdaq: BTBT) closed Friday with a market cap of $944 million.
The New York, NY-based company was incorporated in 2024, though the legacy operating business Enovum was founded in 1999. WhiteFiber booked $56 million in sales for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol WYFI. White Fiber filed confidentially on February 14, 2025. B. Riley Securities and Needham & Co. are the joint bookrunners on the deal. No pricing terms were disclosed.
