Bit Digital Inc. (NASDAQ: BTBT) announced it has originated a $100 million delayed draw term loan facility for a subsidiary of WhiteFiber Inc. (NASDAQ: WYFI), according to a company statement. B. Riley Securities Inc. purchased a portion of the term loans under the facility from Bit Digital Capital Inc.

The facility provides WhiteFiber with access to up to $100 million in delayed draw financing, with the ability to expand to $150 million upon mutual agreement of the parties. Bit Digital holds a majority ownership interest in WhiteFiber, which provides AI infrastructure and high-performance computing solutions.

Bit Digital expects to fund advances through drawings against an Ethereum-denominated secured credit facility, allowing the company to retain ETH exposure while earning a financing spread on the term loan asset. The company stated this structure represents a treasury strategy utilizing Ethereum-backed financing.

The transaction received approval from Bit Digital's Board of Directors following review by an independent committee of disinterested directors. Both Bit Digital and WhiteFiber's boards received written fairness opinions from Needham and Company LLC and Seaport Global Securities LLC, respectively.

"This transaction reflects a disciplined and differentiated capital allocation approach that further supports our existing AI Infrastructure investment thesis, as expressed through our holdings of WhiteFiber, while pursuing attractive risk-adjusted economics for our treasury," said Bit Digital CEO Sam Tabar.

The company operates across three core verticals: an ETH accumulation program, an AI/HPC infrastructure business through WhiteFiber, and strategic acquisitions. Additional transaction details are available in the company's Form 8-K filing with the Securities and Exchange Commission.