WhiteFiber Aims to Raise $1.25 Billion in IPO, Capitalizing on Cloud Demand

WhiteFiber, a cloud data center operator, has announced its initial public offering (IPO) with a price range of $15 to $17 per share. The company plans to issue 7.8 million shares, aiming to raise approximately $1.25 billion. This move comes as WhiteFiber seeks to capitalize on the growing demand for cloud services and data center infrastructure. The IPO is a significant step for the company, which was spun off from BitDigital, a blockchain technology company. The funds raised from the IPO will likely be used to expand WhiteFiber's data center capabilities and enhance its service offerings.

The pricing of the IPO reflects the company's confidence in its growth prospects and the market's appetite for cloud infrastructure investments. WhiteFiber positions itself as a leading provider of AI infrastructure solutions, leveraging high-performance computing (HPC) data centers powered by NVIDIA GPUs to offer cloud services. The company's strategic acquisitions and expansions, including the purchase of Enovum for 63 million Canadian dollars and the planned construction of a data center in North Carolina, underscore its commitment to growth and innovation.

Founded in 1999, WhiteFiber generated $56 million in revenue for the 12 months ending March 31, 2025. The company plans to list on the Nasdaq under the ticker symbol "WYFI," with B.Riley Securities, Needham&Co., and Macquarie Capital serving as joint book-running managers. The IPO is expected to be priced during the week of August 4, 2025. This strategic move positions WhiteFiber to capitalize on the burgeoning demand for cloud services and data center infrastructure, setting the stage for future growth and market leadership.