Bit Digital's (BTBT) WhiteFiber Inc is Getting Ready for an IPO

Bit Digital, Inc. (NASDAQ:BTBT) is one of the Best American Penny Stocks to Buy According to Analysts. On July 16, Bit Digital, Inc. (NASDAQ:BTBT) announced that its subsidiary, WhiteFiber Inc., submitted a Form S-1 registration statement to the US Securities and Exchange Commission, as it prepares for launching an initial public offering.

The size and price range of the offering are still to be determined. The IPO will only proceed after the SEC reviews and approves the registration, and if market conditions are appropriate.

WhiteFiber aims to list its shares on the Nasdaq Capital Market, with the ticker symbol “WYFI.” Moreover, B. Riley Securities and Needham & Company will manage the IPO process as joint bookrunners.

Bit Digital, Inc. (NASDAQ:BTBT) provides high-performance computing infrastructure and digital asset services. Its subsidiary WhiteFiber offers GPU cloud services and operates HPC data centers that support demanding AI and machine learning workloads.

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Disclosure: None. This article is originally published at Insider Monkey.