Ogier in Cayman advises AI infrastructure provider WhiteFiber on US IPO

Ogier's Corporate team has provided Cayman Islands legal counsel to WhiteFiber, Inc, a leading AI infrastructure provider, on its upsized initial public offering on Nasdaq Capital Market.

The initial public offering (IPO) involved the offering of 9,375,000 ordinary shares at a price of US$17.00 per share. This included the full exercise of the underwriters’ 30-day option to purchase an additional 1,406,250 shares, generating gross proceeds of US$183.3 million and giving a market capitalisation of approximately US$643 million.

WhiteFiber was incorporated as a wholly owned subsidiary of Bit Digital, Inc. (NASDAQ: BTBT) and holding company for Bit Digital's high-performance computing business. 

This IPO marks a significant milestone in Bit Digital’s strategic transition to a pure-play Ethereum staking and treasury business. It follows Bit Digital’s oversubscribed public offerings in June and July 2025 – on which Ogier also advised. These IPOs generated net proceeds of US$230 million. 

In this transaction, Ogier provided Cayman Islands legal advice on all key aspects of WhiteFiber's IPO and the strategic transition of Bit Digital. This included guidance on key restructuring documents such as the transitional services agreement between the two entities. Bit Digital retains a 71.5% interest in WhiteFiber, positioning both companies for future growth in their respective sectors.

The Ogier team, led by partner Bradley Kruger and associate Mike Azarnikow, worked alongside lead US counsel White & Case LLP and legal counsel to the underwriters, O’Melveny & Myers LLP.

Bradley said: “We are pleased to see the success of WhiteFiber’s oversubscribed IPO and Bit Digital’s broader strategic transition. We look forward to supporting both companies as they pursue further growth opportunities in their respective and exciting markets.”