WhiteFiber raises $159.4 million in U.S. IPO, valuation reaches $619 million

According to reports, WhiteFiber Inc. successfully raised $159.4 million in its IPO on the U.S. stock market, with an issue price set at $17 per share, reaching the upper limit of the expected range, corresponding to a company valuation of $619 million. As a subsidiary of Bit Digital Inc., WhiteFiber focuses on high-performance computing data centers and cloud GPU services, serving AI and machine learning developers. According to the prospectus, WhiteFiber's net profit for the first quarter of this year was $1.4 million, with revenue of $16.8 million. After the IPO is completed, Bit Digital will hold approximately 77.6% of the shares, with the stock code WYFI.