1. Bit Digital's subsidiary WhiteFiber filed for an IPO with the SEC. 2. Share details and price range for the IPO are undetermined. 3. WhiteFiber aims to list shares on Nasdaq under 'WYFI'. 4. B. Riley Securities and Needham & Company are the IPO managers. 5. The IPO's completion is subject to market conditions and SEC review.
The IPO announcement suggests growth potential and increased investor interest. Historically, IPO filings have positively influenced stock prices of the parent companies, demonstrating market confidence.
The IPO filing indicates strategic growth and capital-raising opportunities, which positively impacts BTBT. Market participation in the IPO will likely reflect on BTBT’s overall valuation.
If WhiteFiber's IPO is successful, it may enhance BTBT's valuation. Long-term growth opportunities often arise from spinning off subsidiaries.
/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 17th Street North, Suite 1300, Arlington, VA 22209, Attention: Prospectus Department, by telephone at (703) 312-9580 or by email at info@brileysecurities.com; or from: Needham & Company, LLC, 250 Park Avenue, 10th Floor, New York, NY 10177, Attn: Prospectus Department, info@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.
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 info@bitdigital.com or follow us on LinkedIn or X.
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Media Contact: Jo Anne McCusker JAM Strategic Communications joanne@jamcomms.com (917) 740-9499
SOURCE Bit Digital, Inc.