Bit Digital’s (BTBT) wholly-owned HPC subsidiary, WhiteFiber Inc., has filed a public registration statement on Form S-1 with the SEC, relating to the proposed initial public offering of its ordinary shares on the Nasdaq under the ticker WYFI.
WhiteFiber has engaged B. Riley Securities and Needham & Company as joint-bookrunning managers for the offering. The exact number of shares to be offered and the prospective price range have not yet been determined.
This public S-1 filing follows WhiteFiber’s confidential submission of a draft registration statement to the SEC on Form S-1 on June 25. That earlier filing marked the first formal step toward spinning out WhiteFiber as an independent public company focused on GPU-accelerated cloud infrastructure services for AI and HPC.
WhiteFiber’s IPO is designed to unlock the value of Bit Digital’s specialized HPC business while providing it with direct access to capital markets. As a standalone public entity, WhiteFiber plans to leverage the proceeds to expand its data center footprint, invest in GPU deployments, and support growing demand from enterprise AI and research customers.
The announcement comes weeks after Bit Digital made a major pivot to ETH for its treasury strategy.
Read More: Bit Digital to reallocate $34.5 million in BTC to ETH
At time of publication, BTBT is up 5.5% during pre-market hours.
