Bit Digital Originates $100M Loan for AI-Driven HPC Center, B. Riley Assumes $20M
BTBT•Bit Digital originated a $100 million senior secured delayed draw loan facility for WhiteFiber’s AI-driven HPC data center, with B. Riley Securities assuming a $20 million advance. WhiteFiber’s subsidiary will use the 90-day bridge financing to complete Phase I of its Madison, North Carolina center and pursue permanent institutional funding.
1. Bit Digital Originates $100 Million Senior Secured Facility
Bit Digital launched a $100 million senior secured delayed draw term loan facility to Enovum NC-1 Venture LLC, a wholly-owned WhiteFiber subsidiary, targeting the buildout of AI-driven high-performance computing infrastructure.
2. $20 Million Advance by B. Riley Securities
B. Riley Securities assumed a 90-day $20 million advance under the facility on identical economic terms as the lead lender, capturing an attractive risk-adjusted yield.
3. Proceeds to Fund AI-Driven HPC Center Buildout
Enovum NC-1 will use the bridge financing to complete Phase I of its Madison, North Carolina AI-driven HPC center and pursue permanent institutional funding upon closing of the facility.
