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Get filing alertsWhiteFiber secures up to $100M bridge loan from Bit Digital affiliate to fund HPC data center
Filed May 27, 2026 · Period ending May 20, 2026 · ~1 min read
Key Changes
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WhiteFiber subsidiary obtained up to $100M delayed draw term loan (expandable to $150M) from Bit Digital Capital to complete buildout of high-performance computing data center in North Carolina and fund growth initiatives.
Item 1.01 verify on EDGAR → -
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Loan carries 9.5% interest (stepping down to 8% after data center reaches 80% occupancy), 3% origination discount, and requires minimum 1.1x return on invested capital at maturity. Term is 9 months, extendable to 12 months.
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Transaction is between related parties (Bit Digital subsidiary as lender). Both companies obtained independent fairness opinions and independent board committee approvals to protect minority shareholders.
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Loan secured by borrower's stock in data center project company and guaranteed by WhiteFiber's operating partnership. Security releases upon obtaining permanent financing for the project.
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Bit Digital assigned $20M of the facility to B. Riley Securities on May 26, 2026, six days after closing, on identical economic terms but with 90-day maturity.
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Summary
WhiteFiber announced a significant bridge financing to accelerate its entry into the high-performance computing data center market. The company's subsidiary secured up to $100 million (potentially $150 million) from Bit Digital Capital to complete the first phase of a 40-megawatt HPC facility in Madison, North Carolina.
The loan structure includes a 3% discount at origination and guarantees the lender at least a 10% return, with interest rates dropping from 9.5% to 8% once the facility is substantially complete and 80% leased. Retail investors should note this is a related-party transaction, as the lender is a Bit Digital subsidiary, though both companies obtained independent fairness opinions to validate terms.
The bridge loan is intended as temporary financing until permanent debt can be secured, at which point collateral and guarantees will be released. The quick syndication of $20 million to B. Riley suggests institutional appetite for the credit. Watch for announcements about data center completion milestones and tenant lease signings, which will trigger the lower interest rate and demonstrate revenue potential. Also monitor for permanent financing announcements, which would replace this expensive bridge facility and signal the project's bankability.
Section-by-Section Diff
Event · Item 2.03 — Creation of a Direct Financial Obligation
WhiteFiber entered into a Delayed Draw Term Loan Facility and Security Agreement with Enovum NC-1 Venture, LLC and other parties.
Added in current filing · verify on EDGAR →
Delayed Draw Term Loan Facility and Security Agreement with Enovum NC-1 Venture, LLC, White Fiber Operating Partnership LP and Bit Digital Capital, Inc.
WhiteFiber disclosed the creation of a direct financial obligation through a new delayed draw term loan facility. This is a credit arrangement that allows the company to borrow funds over time rather than receiving all proceeds upfront. The agreement involves multiple parties including Enovum NC-1 Venture as lender and White Fiber Operating Partnership LP and Bit Digital Capital as additional parties to the security agreement.
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On May 20, 2026 (the “Effective Date”), WhiteFiber Inc.’s (the “Company”) wholly-owned subsidiary, Enovum NC-1 Venture, LLC (the “Borrower”), a Delaware limited liability company, entered into a Delayed Draw Term Loan Facility and Security Agreement (the “Term Loan”) with Bit Digital Capital, Inc. (the “Lender”), a Delaware corporation and wholly-owned subsidiary of Bit Digital, Inc. (“Bit Digital”) and White Fiber Operating Partnership LP (the “Guarantor”). The Borrower intends to use the Term Loan for general corporate purposes, which may include the completion of the buildout of the first phase of a high-performance computing (HPC) data center located in Madison, North Carolina (“NC-1”), being developed by affiliates of the Company, subject to the timing of the closing of permanent financing, as well as other growth initiatives. The Term Loan provides for loans in an aggregate principal amount of up to $100 million, which may be increased to $150 million (the “Facility Size”) upon mutual agreement of the parties.
WhiteFiber's subsidiary entered a bridge loan facility with Bit Digital Capital for up to $100 million (expandable to $150 million) to fund the buildout of a high-performance computing data center in North Carolina and other growth initiatives. The facility has a 9-month term extendable to 12 months and carries a 9.5% interest rate that steps down to 8% once the data center reaches substantial completion and 80% occupancy.
Added in current filing · verify on EDGAR →
The interest rate is equal to 9.5% per annum before the Rate Step Down Event, and 8% thereafter. The “Rate Step Down Event” will occur when the Borrower has delivered reasonable evidence to the Lender that the following conditions have been satisfied: (i) the development of a 40 megawatt phase I buildout of NC-1 has been substantially completed and (ii) at least 80% of the phase I data center capacity has been leased to tenants at market rates. ... Each Advance will be funded net of a 3% original issue discount, with the Borrower remaining liable for the full stated principal amount. ... Payments to the Lender on any Advance as of such Advance’s Maturity Date shall be no less than 1.1 multiplied by the principal amount of such Advance (excluding any original issue discount), less the cumulative amount of all payments (including interest, payment-in-kind interest, and fees) received by the Lender in respect of such Advance (the “MOIC Amount”).
The loan carries a 3% original issue discount and requires a minimum 1.1x multiple on invested capital (MOIC) at maturity, meaning the borrower must repay at least 110% of principal (excluding the discount) less any prior payments. Interest can be paid in kind (added to principal), and there is no prepayment penalty though prepayment does not reduce the MOIC obligation.
Event · Item 7.01 — Regulation FD Disclosure
WhiteFiber announced a new Delayed Draw Term Loan Facility and Security Agreement via press release.
Added in current filing · verify on EDGAR →
On May 27, 2026, the Company issued a press release announcing the Delayed Draw Term Loan Facility and Security Agreement.
WhiteFiber disclosed entering into a Delayed Draw Term Loan Facility and Security Agreement. This is a new debt financing arrangement that allows the company to draw funds over time rather than receiving all proceeds upfront. The specific terms, amount, and lender details are referenced in the attached press release (Exhibit 99.1), which is not included in this 8-K body.
Event · Item 9.01 — Financial Statements and Exhibits
Item 9.01 — Financial Statements and Exhibits filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Delayed Draw Term Loan Facility and Security Agreement effective May 20, 2026, by and among Enovum NC-1 Venture, LLC, Bit Digital Capital, Inc. and White Fiber Operating Partnership LP.
WhiteFiber's operating partnership entered into a delayed draw term loan facility with Enovum NC-1 Venture and Bit Digital Capital, effective May 20, 2026. This is a material financing agreement that provides the company access to debt capital on a draw-down basis, though specific terms like loan amount, interest rate, and maturity are not disclosed in the 8-K body.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 27, 2026 · How we verify