Bit Digital's subsidiary WhiteFiber raised $159.4 million in its IPO on the US stock market, with a valuation of $619 million

ChainCatcher news, according to Bloomberg, the artificial intelligence infrastructure subsidiary Whitefiber Inc. of cryptocurrency asset management company Bit Digital Inc. raised $159.4 million in its U.S. IPO, with an issue price of $17 per share, at the upper end of the range, corresponding to a valuation of $619 million.

WhiteFiber focuses on high-performance computing data centers and cloud GPU services, with clients including AI and machine learning developers. The prospectus shows that WhiteFiber's net profit in the first quarter of this year was $1.4 million, with revenue of $16.8 million. After the IPO, Bit Digital will hold approximately 77.6% of the shares, with the stock code WYFI.