Bit Digital, Inc. Announces Public Filing for WhiteFiber's Proposed Initial Public Offering

Rhea-AI Summary

Bit Digital (NASDAQ:BTBT) has announced that its wholly-owned HPC subsidiary, WhiteFiber Inc., has filed a Form S-1 registration statement with the SEC for its proposed initial public offering. WhiteFiber plans to list on the Nasdaq Capital Market under the symbol "WYFI".

B. Riley Securities and Needham & Company will serve as joint-bookrunning managers for the offering. The number of shares and price range have not yet been determined, and the offering is subject to market conditions and SEC review.

Positive

• Potential value creation through WhiteFiber IPO spinoff
• Strategic positioning in HPC sector through separate listing
• Partnership with established underwriters B. Riley and Needham

Negative

• Uncertainty around offering size and pricing
• Market conditions may affect IPO timing and success

NEW YORK, July 16, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), today announced that its wholly-owned HPC subsidiary, WhiteFiber Inc. ("WhiteFiber"), has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed initial public offering of WhiteFiber's ordinary shares.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is subject to market and other conditions and the completion of the SEC's review process. WhiteFiber intends to list its ordinary shares on The Nasdaq Capital Market under the symbol "WYFI."

B. Riley Securities and Needham & Company are acting as the joint-bookrunning managers for the proposed offering.

The proposed offering of these securities will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed initial public offering may be obtained from: B. Riley Securities, 1300 17^th Street North, Suite 1300, Arlington, VA 22209, Attention: Prospectus Department, by telephone at (703) 312-9580 or by email at prospectuses@brileysecurities.com; or from: Needham & Company, LLC, 250 Park Avenue, 10th Floor, New York, NY 10177, Attn: Prospectus Department, prospectus@needhamco.com or by telephone at (800) 903-3268.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release is being made pursuant to, and in accordance with, Rule 134 under the Securities Act of 1933, as amended (the "Securities Act"). This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act and other applicable securities laws.

About Bit Digital

Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. The Company began accumulating and staking ETH in 2022 and now operates one of the largest institutional Ethereum staking infrastructures globally. Bit Digital's platform includes advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization. Through strategic partnerships across the Ethereum ecosystem, Bit Digital aims to deliver exposure to secure, scalable, and compliant access to onchain yield. For additional information, please contact ir@bit-digital.com or follow us on LinkedIn or X.

Investor Contact:
ir@bit-digital.com

Media Contact:
Jo Anne McCusker
JAM Strategic Communications 
joanne@jam-comms.com
(917) 740-9499

 

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SOURCE Bit Digital, Inc.

FAQ

What is the IPO stock symbol for Bit Digital's WhiteFiber subsidiary?

WhiteFiber plans to list on the Nasdaq Capital Market under the symbol WYFI.

Who are the underwriters for WhiteFiber's IPO?

B. Riley Securities and Needham & Company are acting as joint-bookrunning managers for the proposed offering.

When will WhiteFiber's IPO take place?

The exact date is not specified as the IPO is subject to market conditions and SEC review of the Form S-1 registration statement.

How many shares will be offered in WhiteFiber's IPO?

The number of shares and price range for the IPO have not yet been determined.

What is WhiteFiber's relationship to Bit Digital (BTBT)?

WhiteFiber is a wholly-owned HPC subsidiary of Bit Digital that is pursuing an IPO spinoff.