Bit Digital's AI infrastructure company Whitefiber seeks $132.8 million IPO

PANews reported on July 29th that Bloomberg News reported that Whitefiber Inc., the artificial intelligence infrastructure subsidiary of crypto asset management company Bit Digital Inc., is seeking to raise up to $132.8 million through an initial public offering (IPO). According to documents filed with the US Securities and Exchange Commission on Tuesday, the company plans to offer 7.8 million shares at a price range of $15 to $17 per share. Based on the outstanding shares listed in the prospectus, pricing at the top end of the offering price range would give Whitefiber a market capitalization of $592.6 million. The company expects to determine the IPO price during the week of August 4th. The prospectus indicates that Whitefiber owns high-performance computing data centers and provides cloud-based high-performance computing graphics processor services. The company provides cloud services to clients including developers of artificial intelligence applications and machine learning. Upon completion of the IPO, Bit Digital expects to hold approximately 77.6% of the company's outstanding shares.

Bit Digital's AI infrastructure company Whitefiber seeks $132.8 million IPO

Popular Articles

Curated Series