WhiteFiber, a carve-out of Bit Digital that operates data centers to provide cloud services, announced terms for its IPO on Tuesday.
The New York, NY-based company plans to raise $125 million by offering 7.8 million shares at a price range of $15 to $17. At the midpoint of the proposed range, WhiteFiber would command a fully diluted market value of $558 million.
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 for C$63 million, and this year has expanded its Montreal-area operations, in addition to recent plans to build out a North Carolina data center.
WhiteFiber was founded in 1999 and booked $56 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol WYFI. B. Riley Securities, Needham & Co., and Macquarie Capital are the joint bookrunners on the deal. It is expected to price during the week of August 4, 2025.
