Bit Digital's subsidiary Whitefiber plans to raise $132.8 million through an IPO to provide AI high-performance computing services.

[Chain News] PANews, July 29 - According to reports, Bit Digital Inc., a cryptocurrency asset management company, is seeking to raise up to $132.8 million through an Initial Public Offering (IPO) by its AI infrastructure subsidiary, Whitefiber Inc. According to documents submitted by the company to the SEC on Tuesday, it plans to issue 7.8 million shares at a price of $15 to $17 per share. Based on the issued shares listed in the prospectus, if priced at the upper limit of the issuance range, Whitefiber's market capitalization would reach $592.6 million. The company expects to determine the IPO issuance price in the week of August 4.

The prospectus shows that Whitefiber has high-performance computing data centers and provides cloud-based high-performance computing graphics processing services. The company offers cloud services to customers such as artificial intelligence applications and machine learning developers. After the IPO is completed, Bit Digital is expected to hold approximately 77.6% of its issued shares.