The offering, priced at $17 per share, saw WhiteFiber, a cloud GPU and data center service provider for AI and machine learning, raise $159.4M, with Bit Digital retaining 77.6% post-IPO.
PANews reported on August 7 that AI infrastructure company WhiteFiber Inc., a subsidiary of Bit Digital (BTBT), raised $159.4M in its US IPO at an issue price of $17 per share, achieving a $619M valuation. The prospectus indicated a Q1 net profit of $1.4M and revenue of $16.8M. WhiteFiber, which provides high-performance computing data center and cloud GPU services to AI and machine learning developers, will see Bit Digital retain approximately 77.6% of the shares post-IPO.