WhiteFiber Subsidiary Secures $20M Short-Term Loan to Fund Madison HPC Data Center
WYFI•WhiteFiber's NC-1 subsidiary secured a $20m senior secured 90-day loan from B. Riley Securities under a $100m delayed draw facility to fund its Madison, NC HPC data center buildout. B. Riley assumed the advance as record lender, capturing premium yield while bridging to permanent financing.
1. Loan Structure and Terms
Under an assignment agreement, B. Riley Securities assumed WhiteFiber’s $20 million advance under a $100 million senior secured delayed draw term loan facility originally originated by Bit Digital. The 90-day facility maintains identical pricing and covenants to the lead lender, yielding asset-backed returns while bridging to permanent financing.
2. Use of Proceeds and Strategic Impact
Proceeds will fund the completion of the first phase of a high-performance computing data center in Madison, North Carolina, and support other general corporate initiatives. This bridge financing provides critical liquidity for WhiteFiber as it finalizes permanent institutional financing for its AI-driven infrastructure expansion.
