WhiteFiber, Inc. Announces C$60 Million Credit Facility with Royal Bank of Canada for Data Centers
WhiteFiber Inc., a wholly-owned HPC subsidiary of Bit Digital (NASDAQ: BTBT), has secured a landmark C$60 million credit facility from the Royal Bank of Canada for its data centers business. The financing agreement includes a real estate term loan, equipment financing, and a revolving facility, carrying interest rates of CORRA plus 250 bps with a 3-year term.
The non-recourse credit agreement involves ENOVUM Data Centers Corp. and its Montreal II project as borrowers and guarantors. The proceeds will support the expansion of WhiteFiber's Tier-3 AI data center portfolio. CEO Sam Tabar highlighted this as a breakthrough achievement, noting it as the first financing of its kind in the HPC Cloud and data centers sector.
WhiteFiber Inc., una sussidiaria interamente controllata di HPC di Bit Digital (NASDAQ: BTBT), ha ottenuto una storica linea di credito da 60 milioni di dollari canadesi dalla Royal Bank of Canada per la sua attività di data center. L'accordo di finanziamento comprende un prestito a termine immobiliare, finanziamento per attrezzature e una linea di credito revolving, con tassi di interesse pari a CORRA più 250 punti base e una durata di 3 anni.
Il contratto di credito non ricorrente coinvolge ENOVUM Data Centers Corp. e il suo progetto Montreal II come mutuatari e garanti. I fondi saranno utilizzati per supportare l'espansione del portafoglio di data center AI Tier-3 di WhiteFiber. Il CEO Sam Tabar ha sottolineato che si tratta di un risultato rivoluzionario, definendolo il primo finanziamento di questo tipo nel settore HPC Cloud e data center.
WhiteFiber Inc., una subsidiaria de HPC de propiedad total de Bit Digital (NASDAQ: BTBT), ha asegurado una histórica línea de crédito de 60 millones de dólares canadienses del Royal Bank of Canada para su negocio de centros de datos. El acuerdo de financiamiento incluye un préstamo a plazo inmobiliario, financiamiento de equipos y una línea de crédito revolvente, con tasas de interés de CORRA más 250 puntos base y un plazo de 3 años.
El acuerdo de crédito sin recurso involucra a ENOVUM Data Centers Corp. y su proyecto Montreal II como prestatarios y garantes. Los fondos apoyarán la expansión del portafolio de centros de datos AI Tier-3 de WhiteFiber. El CEO Sam Tabar destacó que se trata de un logro innovador, señalándolo como el primer financiamiento de este tipo en el sector HPC Cloud y centros de datos.
WhiteFiber Inc.는 Bit Digital (NASDAQ: BTBT)의 전액 출자 HPC 자회사로서, 데이터 센터 사업을 위해 캐나다 왕립은행(Royal Bank of Canada)으로부터 획기적인 6,000만 캐나다 달러 신용 시설을 확보했습니다. 이 금융 계약에는 부동산 장기 대출, 장비 금융, 그리고 회전 신용 시설이 포함되며, 금리는 CORRA에 250bps를 더한 수준이고 3년 만기입니다.
비소구 신용 계약에는 ENOVUM Data Centers Corp.와 몬트리올 II 프로젝트가 차용인 및 보증인으로 참여합니다. 자금은 WhiteFiber의 Tier-3 AI 데이터 센터 포트폴리오 확장을 지원하는 데 사용될 예정입니다. CEO Sam Tabar는 이를 HPC 클라우드 및 데이터 센터 부문에서 최초의 이와 같은 금융 성과로서 획기적인 성취라고 강조했습니다.
WhiteFiber Inc., une filiale HPC détenue à 100 % par Bit Digital (NASDAQ : BTBT), a obtenu une ligne de crédit historique de 60 millions de dollars canadiens auprès de la Banque Royale du Canada pour son activité de centres de données. L'accord de financement comprend un prêt immobilier à terme, un financement d'équipement et une facilité de crédit renouvelable, avec des taux d'intérêt de CORRA plus 250 points de base sur une durée de 3 ans.
Le contrat de crédit non-recourse implique ENOVUM Data Centers Corp. et son projet Montreal II en tant qu'emprunteurs et garants. Les fonds seront utilisés pour soutenir l'expansion du portefeuille de centres de données IA Tier-3 de WhiteFiber. Le PDG Sam Tabar a souligné qu'il s'agit d'une avancée majeure, la qualifiant de premier financement de ce type dans le secteur du HPC Cloud et des centres de données.
WhiteFiber Inc., eine hundertprozentige HPC-Tochtergesellschaft von Bit Digital (NASDAQ: BTBT), hat eine wegweisende Kreditfazilität in Höhe von 60 Millionen kanadischen Dollar von der Royal Bank of Canada für ihr Rechenzentrums-Geschäft gesichert. Der Finanzierungsvertrag umfasst ein Immobiliendarlehen, Gerätefinanzierung und eine revolvierende Kreditlinie mit Zinssätzen von CORRA plus 250 Basispunkten bei einer Laufzeit von 3 Jahren.
Der nicht-rekursiv ausgestaltete Kreditvertrag umfasst ENOVUM Data Centers Corp. und ihr Montreal II-Projekt als Kreditnehmer und Bürgschaftsgeber. Die Mittel werden zur Erweiterung des Tier-3 AI-Rechenzentrums-Portfolios von WhiteFiber verwendet. CEO Sam Tabar hob dies als bahnbrechenden Erfolg hervor und bezeichnete es als die erste Finanzierung dieser Art im HPC Cloud- und Rechenzentrumssektor.
- Secured substantial C$60 million credit facility from Canada's largest bank
- Non-dilutive financing structure preserving shareholder value
- First company in HPC Cloud and data centers sector to secure this type of financing
- Demonstrates strong business model validation from major financial institution
- Enables expansion of Tier-3 AI data center portfolio to meet growing demand
- Additional debt burden with interest rate of CORRA plus 250 bps
- Limited to 3-year term requiring potential refinancing in 2028
- Execution risks associated with data center buildout and expansion
Insights
C$60M non-dilutive credit facility provides significant growth capital while isolating risk, validating WhiteFiber's business model.
The
The comprehensive financing package combines three essential components: a real estate term loan, equipment financing, and a revolving facility. This multifaceted approach delivers flexible capital tailored to the various aspects of data center development. The terms appear competitive with a CORRA plus
What's particularly significant is that this represents institutional validation from Canada's largest bank - a meaningful endorsement of WhiteFiber's business model, asset quality, and execution capability. In the capital-intensive data center sector, securing non-dilutive financing preserves existing shareholder equity while providing growth capital.
The company can now accelerate its Tier-3 AI data center portfolio expansion without issuing additional shares. With the AI compute market experiencing robust demand growth, this financing positions WhiteFiber to strengthen its infrastructure capabilities precisely when market conditions favor expansion. The 3-year term provides a reasonable operational runway while the non-recourse structure effectively shields the parent company from direct liability.
The credit agreement, among RBC and ENOVUM Data Centers Corp. and its Montreal II project as borrowers and guarantors, is non-recourse to WhiteFiber or Bit Digital. It encompasses a real estate term loan, equipment financing, and a revolving facility. The facilities carry interest rates of CORRA plus 250 bps and a 3-year term.
"This financing is a breakthrough for WhiteFiber and our sector," said CEO Sam Tabar. "No other company operating at the intersection of HPC Cloud and data centers has secured financing of this nature, to our knowledge. We believe that this is a strong endorsement of our business model, the quality of our assets, balance sheet, and ability to execute."
"It also reflects our ongoing efforts to unlock non-dilutive capital and scale data center infrastructure to meet growing demand for AI compute. We're grateful to RBC for their support and partnership as we continue advancing our strategic priorities."
The credit agreement includes customary terms and conditions. Additional details will be available in a Current Report on Form 8-K to be filed with the
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This press release may contain certain "forward-looking statements" relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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