The Nasdaq-listed firm will use proceeds to fund a 40-megawatt HPC data center buildout in North Carolina.
Bit Digital (BTBT) arranged a $100 million delayed draw term loan for subsidiary WhiteFiber (WYFI), expandable to $150 million. The facility carries a 9.5% annual interest rate, stepping down to 8% upon completion of Phase I data center leasing targets.
The loan supports WhiteFiber’s high-performance computing data center in Madison, North Carolina, requiring 80% of Phase I’s 40 megawatts to be leased at market rates for the rate reduction. Funding may come partly from the company’s ETH treasury holdings.
B. Riley Securities acquired a portion of the term loans from Bit Digital Capital, the lending subsidiary. The facility includes a nine-month availability period with a potential three-month extension.