Whitefiber Inc., a subsidiary of Bit Digital specialising in AI infrastructure, is pursuing an initial public offering to raise up to $132.8 million. The company plans to offer 7.8 million shares, with a price range of $15 to $17 each. This could give Whitefiber a market value between $523 million and $593 million.
Whitefiber focuses on high-performance computing (HPC) for AI and machine learning applications, targeting areas like genomics and autonomous vehicles. The company aims to distinguish itself with a vertically integrated approach, encompassing data centres, GPU hardware, and custom cloud services. Whitefiber's infrastructure supports both cloud and colocation services, offering options for hybrid environments and dedicated networking. The IPO proceeds are intended to fund expansion, including new data centres and equipment.
Preliminary estimates for the second quarter of 2025 indicate revenue between $17.7 million and $19.6 million. WhiteFiber operates data centres in Montreal and North Carolina.
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