Bit Digital’s AI Infrastructure Subsidiary Whitefiber Seeks $132.8 Million IPO

According to a report by Jinse Finance, Whitefiber Inc., the AI infrastructure subsidiary of crypto asset management firm Bit Digital Inc., is seeking to raise up to $132.8 million through an initial public offering (IPO). According to documents filed with the U.S. SEC on Tuesday, the company plans to issue 7.8 million shares at a price range of $15 to $17 per share. Based on the number of shares listed in the prospectus, if priced at the upper end of the range, Whitefiber’s market capitalization would reach $592.6 million. The company expects to determine the IPO price during the week of August 4. The prospectus shows that Whitefiber operates high-performance computing data centers and provides cloud-based high-performance computing GPU services. The company offers cloud services to clients such as artificial intelligence application and machine learning developers. Upon completion of the IPO, Bit Digital is expected to hold approximately 77.6% of Whitefiber’s outstanding shares.