WhiteFiber Nets $100M Loan Facility as Bit Digital Buys $20M Ethereum
WYFI•WhiteFiber secured a $100 million delayed‐draw term loan facility from Bit Digital Capital, expandable to $150 million, at 9.5% interest stepping down to 8% once its 40 MW Phase I HPC data center in Madison hits 80% lease utilisation. Bit Digital also acquired 8,568 ETH for $20 million, lifting its ETH holdings to 158,462 tokens.
1. Loan Facility Details
Bit Digital Capital originated a $100 million delayed‐draw term loan facility for WhiteFiber, Inc., expandable to $150 million by mutual agreement. The facility carries a 9.5% annual interest rate, stepping down to 8% once the 40 MW Phase I HPC data center in Madison, North Carolina reaches 80% lease utilisation, includes a 3% original issue discount, and mandates maturity repayments of at least 1.1 times the principal. The nine-month availability period may extend by three months.
2. Funding via Ethereum Credit Facility
Bit Digital plans to finance loan advances through drawings against an Ethereum-denominated secured credit facility, allowing the company to retain ETH exposure while earning a financing spread that targets returns above traditional Ethereum staking yields. This structure aligns with the company’s AI infrastructure investment thesis and treasury strategy.
3. Ethereum Purchase and Treasury Impact
On May 11, Bit Digital purchased approximately 8,568 ETH for $20 million at an average cost of about $2,334 per token, boosting its total Ethereum holdings to roughly 158,462 tokens. The acquisition lowers the company’s average cost basis and supports its goal of growing net asset value per share.
