Loan & DebtMay 27, 2026, 05:07 PM
Bit Digital Subsidiary Originates $100M Term Loan
AI Summary
Bit Digital, Inc.'s wholly-owned subsidiary, Bit Digital Capital, Inc., originated a $100 million delayed draw term loan facility for Enovum NC-1 Venture, LLC, an indirect wholly-owned subsidiary of WhiteFiber, Inc., in which Bit Digital holds a majority ownership. The facility, which can be increased to $150 million, will support WhiteFiber's near-term growth initiatives, including the buildout of a high-performance computing (HPC) data center in Madison, North Carolina. Bit Digital expects to fund advances through an Ethereum-denominated secured credit facility, aiming for attractive risk-adjusted returns that exceed traditional ETH staking yields while supporting a strategic asset.
Key Highlights
- Bit Digital Capital originated a $100M delayed draw term loan facility for WhiteFiber subsidiary Enovum NC-1 Venture.
- The facility can expand to $150M upon mutual agreement of the parties.
- Funds will support WhiteFiber's high-performance computing (HPC) data center buildout (NC-1) in Madison, North Carolina.
- Interest rate is 9.5% per annum, stepping down to 8% after Phase I completion and 80% lease-up.
- The term is nine months, extendable by three months; advances are funded net of a 3% original issue discount.
- Borrower must pay no less than 1.1x MOIC (Multiple on Invested Capital) on principal; a 0.50% commitment fee applies to the undrawn facility.
- B. Riley Securities, Inc. acquired a $20M portion of an advance under the Term Loan.
- Bit Digital expects to fund advances through an Ethereum-denominated secured credit facility.
Price Impact
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