Mentioned:
WYFI -15.22% BTBT -11.62%
There’s a new high performance computing company on the Nasdaq. And Bit Digital is their largest shareholder.
What’s happening:
- WhiteFiber (NASDAQ: WYFI) has officially begun trading on the Nasdaq after successfully raising $183M USD in an IPO financing round
- The IPO financing round was led by B. Riley Securities and Needham & Company
By the numbers:
- WhiteFiber issued 10.7M common shares at $17.00 USD per share in their IPO
Why it matters:
- WhiteFiber was originally the high performance computing division of Bit Digital (NASDAQ: BTBT), prior to being spun out as its own indecent company
Going deeper:
- Bit Digital previously led WhiteFiber to building out a significant data centre presence in Canada, including a large scale data centre in Quebec to support WhiteFiber’s 5 megawatt deal with Cerebras Systems
- Bit Digital also recently made waves when they publicly stated their plans to go all in on accumulating Ethereum and sell off all of their Bitcoin mining operations
The intrigue:
- Bit Digital is the single largest shareholder of WhiteFiber and owns roughly 71% of the entire company following the IPO financing round
