RT Bit Digital, Inc. NASDAQ:BTBT (@BitDigital_BTBT)Over 25,000 participants at one of the world’s largest crypto conferencesBit Digital front and centerWe heard it loud and clear: the future is ETH and AI https://t.co/mzRt4EUH31 ...

Company Overview - WhiteFiber, Inc. is a provider of artificial intelligence (AI) infrastructure solutions, owning high-performance computing data centers and offering cloud services to customers [5] - The company operates a vertically integrated model that combines specialized colocation, hosting, and cloud services designed to maximize performance, efficiency, and margin for generative AI workloads [5] - WhiteFiber is being carved out of Bit Digital, Inc. and will function as a separate public company following the completion of its initial public offering [5] Initial Public Offering (IPO) Details - WhiteFiber announced the closing of its upsized initial public offering of 9,375,000 ordinary shares at a public offering price of $17.00 per share [1] - The company received aggregate gross proceeds of $159.4 million from the IPO, before deducting underwriting discounts and commissions and offering expenses [1] - The ordinary shares began trading on The Nasdaq Capital Market under the symbol "WYFI" on August 7, 2025 [1] - WhiteFiber granted underwriters a 30-day option to purchase up to an additional 1,406,250 ordinary shares at the initial public offering price, less underwriting discounts and commissions [1] Underwriters and Management - B. Riley Securities and Needham & Company acted as the joint book-running managers for the offering, with Macquarie Capital also serving as a book-runner [2] - Roth Capital Partners acted as the lead manager, while Craig-Hallum and Clear Street served as co-managers for the offering [2] Regulatory Information - A registration statement relating to these securities was filed with the SEC and declared effective on August 6, 2025 [3] - The offering was made solely by means of a prospectus, with copies available from the respective underwriters [3]

Core Viewpoint - WhiteFiber, Inc. has announced the pricing of its upsized initial public offering (IPO) of 9,375,000 ordinary shares at a price of $17.00 per share, with an additional option for underwriters to purchase up to 1,406,250 shares [1][2]. Company Overview - WhiteFiber is a provider of artificial intelligence (AI) infrastructure solutions, owning high-performance computing data centers and offering cloud services. The company operates a vertically integrated model designed to maximize performance, efficiency, and margin for generative AI workloads [6]. IPO Details - The ordinary shares are set to begin trading on The Nasdaq Capital Market under the symbol "WYFI" on August 7, 2025, with the closing of the offering expected on August 8, 2025, pending customary closing conditions [2]. - B. Riley Securities and Needham & Company are the joint book-running managers for the offering, with Macquarie Capital also acting as a book-runner and Roth Capital Partners as the lead manager [3].

Financial Data and Key Metrics Changes - Total revenue for 2024 was $108 million, a 141% increase from 2023 [48] - Adjusted EBITDA reached $73 million, compared to $12.4 million in 2023 [53] - Gross profit was $45.7 million, nearly threefold increase from 2023, with gross margins expanding approximately 500 basis points to 42.3% [51] Business Line Data and Key Metrics Changes - HPC revenue made up over 40% of full-year revenue and more than half of Q4 revenue, with cloud services generating $45.7 million in its first year of operations [7][49] - Colocation services contributed $1.4 million from October 12 through the year-end [49] - Bitcoin mining revenue was $58.6 million, up 32% year-over-year, but accounted for only 54% of total revenue in 2024, down from 98% in 2023 [41][48] Market Data and Key Metrics Changes - The company has seen significant demand for high-performance computing (HPC) infrastructure, exceeding current capacity [56] - The demand for GPUs is surging, with a strong customer pipeline and contracts representing nine-figure annual revenue [19][23] Company Strategy and Development Direction - The acquisition of Enovum vertically integrated data center operations and expanded customer base, enhancing infrastructure scaling capabilities [8][25] - The company is focused on a disciplined approach to GPU procurement and capital deployment to avoid excess inventory risk [20] - The strategic focus is on expanding both cloud services and colocation services to create a durable and diversified cash flow [59] Management's Comments on Operating Environment and Future Outlook - Management believes the current market sentiment does not accurately reflect the company's growth potential, particularly in HPC [57] - The company is actively exploring financing options for its HPC business to support growth without diluting equity [61][151] - Future demand for AI compute is expected to be driven by inference, with strategic developments in metropolitan areas to meet customer needs [40] Other Important Information - The company is debt-free and has approximately $98.9 million in cash and restricted cash as of December 31, 2024 [54] - Capital expenditures for 2024 totaled $94 million, primarily for GPU purchases and the acquisition of Montreal 2 [54] Q&A Session Summary Question: What is the current run rate for cloud services? - The current run rate is approximately $72 million with the addition of DNA Funds as a customer [66][67] Question: What is the expected revenue contribution from new GPU deployments? - The B200s are expected to start generating revenue in April, while the H200s' timeline is uncertain due to ongoing R&D [75] Question: What was the fourth-quarter revenue for the colocation business? - The colocation revenue recognized was $1.4 million from the date of acquisition [78] Question: Can you provide details on the 100-megawatt site under LOI? - The site has 24 megawatts of power available, with a path to 48 megawatts and discussions for an additional 100 megawatts by the end of 2025 [87] Question: How confident is the company in sourcing infrastructure equipment? - The equipment for upcoming deployments has been secured, with a large portion already delivered [115] Question: What is the company's strategy regarding Bitcoin mining? - The focus remains on optimizing the fleet and maintaining Bitcoin exposure in a capital-efficient manner, rather than expanding for growth's sake [45][124]

Core Viewpoint - Bit Digital, Inc. is set to release its Fiscal Year 2024 results on March 14, 2025, before the stock market opens, followed by a live webcast and conference call at 10:00 a.m. ET [1] Company Overview - Bit Digital, Inc. is a global platform for high-performance computing (HPC) infrastructure and digital asset production, headquartered in New York City [3] - The company's HPC business operates under the WhiteFiber Inc. brand, with operations located in the US, Canada, and Iceland [3] Earnings Call Details - Participants can register for the earnings call via a provided link and can join by dialing 1-800-289-0459 with the passcode 299376 [2] - A press release regarding the Fiscal Year 2024 earnings will be issued prior to the conference call and will be available on the Bit Digital website [2]