WhiteFiber

Borrower

WhiteFiber, Inc. (Cayman Islands issuer)

Seniority

Senior unsecured

Maturity

2032-09-01 — Callable on or after 2030-09-06 on a 130% share-price trigger, but not in part unless at least $75.0M remains outstanding and uncalled. Holder put on 2030-09-06 and on a fundamental change, both at par plus accrued interest. No sinking fund.

Lenders

144A QIBs; U.S. Bank Trust Co. (trustee)

Pricing

Semi-annual Mar 1 / Sep 1 from 2027-03-01. Initial conversion rate 29.5530 ordinary shares per $1,000 (~$33.84), a 25% premium to the close on 2026-08-18.

Terms

$310.0M, including full exercise of the initial purchasers' $40.0M option. Issued concurrently with an exchange of $198.15M of the 4.500% 2031 notes. A maximum of 11,451,803 ordinary shares may be issued on conversion at the 36.9413 maximum conversion rate. No capped call.

Source: 8-K Items 1.01/2.03/3.02/8.01 (event 2026-08-18, filed 2026-08-21), acc 0001213900-26-092599; Indenture dated 2026-08-21 · document

Borrower

Enovum Data Center Corp. (borrower), a wholly owned subsidiary

Seniority

Syndicated credit facility

Maturity

Undisclosed

Collateral

Not disclosed in the 10-Q

Lenders

Royal Bank of Canada · Syndicate not named

Pricing

Not disclosed in the 10-Q.

Terms

Up to approximately CAD $115M (~$80.8M), plus an accordion permitting an increase of up to a further CAD $25M (~$17.7M) subject to specified conditions. Non-revolving: amounts repaid or prepaid may not be reborrowed. Proceeds refinanced the Amended RBC Credit Agreement in full on 2026-07-15 and finance the data-centers business. Drawn balance undisclosed. USD equivalents are the filing's own.

Source: WYFI 10-Q for the quarter ended 2026-06-30, Note 10 Debt, filed 2026-08-12, acc 0001213900-26-088026 · document

Borrower

Enovum NC-1 Venture, LLC (borrower); WhiteFiber Operating Partnership, LP (guarantor); B. Riley Securities, Inc. as assignee lender of record

Seniority

Secured; WF Operating Partnership guarantee

Maturity

~2026-08-24 — 90 days

Collateral

Pledge of Enovum NC-1 Topco stock (NC-1 HPC datacenter, Madison NC)

Lenders

B. Riley Securities (by assignment)

Pricing

9.5%, steps to 8% on Phase I completion/80% leased; minimum 1.1x MOIC; PIK option

Terms

$20.0M at a 3% original issue discount, assigned by Bit Digital Capital to B. Riley on 2026-05-26 out of an advance under the Delayed Draw Term Loan Facility, on the same economic terms as the lender including interest rate, MOIC Amount and security interest. 90-day term. Net carrying value $19.4M at 2026-06-30; effective interest rate 50.6%.

Source: WYFI 10-Q for the quarter ended 2026-06-30, Note 10 Debt, filed 2026-08-12, acc 0001213900-26-088026 · document

Borrower

Enovum NC-1 Venture, LLC (borrower); Bit Digital Capital, Inc. (lender, a Bit Digital subsidiary and therefore a related party); WhiteFiber Operating Partnership, LP (guarantor)

Seniority

Senior secured at the NC-1 holding-company level

Maturity

2026-08-24 — Tranche-by-tranche rather than facility-level: the 2026-05-26 advances ran 90 days, extendable 30 days by mutual agreement, and the 2026-07-27 and 2026-07-31 advances run 180 days, extendable by mutual agreement. The date shown is the nearest tranche maturity. Mandatory prepayment of 100% of net cash proceeds from any disposition of collateral outside the ordinary course, within five business days.

Collateral

First-ranking security over 100% of the shareholding in Enovum NC-1 Topco, Inc. Subject to a collateral step-down: the lender releases all liens and security interests once Enovum NC-1 Bidco, LLC or another affiliate of the borrower obtains loan financing from institutional investors or another form of permanent financing for NC-1.

Lenders

Bit Digital Capital, Inc. · B. Riley Securities, Inc. (assignee of a $20.0M advance)

Pricing

9.5% before the Rate Step Down Event and 8.0% after, the step-down conditioned on substantial completion of a 40 MW Phase I buildout at NC-1 and at least 80% of Phase I capacity leased to tenants at market rates. Payments at each advance's maturity are no less than 1.1x the principal advanced excluding OID, less cumulative payments received (the MOIC Amount); prepayment carries no penalty and does not reduce the MOIC. PIK election at the borrower's discretion. Default rate is the lesser of the interest rate plus 3.0% and the maximum permitted by law. The MOIC and the short tenor produced an effective interest rate of 50.6% at 2026-06-30.

Terms

Facility of up to $100M, increasable to $150M by mutual agreement. $60.0M outstanding under the facility as last reported: $30.0M remaining from the $50.0M drawn 2026-05-26 in two tranches after the $20.0M tranche was assigned to B. Riley the same day and is carried separately, plus $20.0M drawn 2026-07-27 and $10.0M drawn 2026-07-31. Each advance is funded net of a 3% original issue discount with the borrower liable for the full stated principal. Availability period nine months, extendable by three. Commitment fee 0.50% of the undrawn facility size, payable at expiry of the availability period. Related-party governance: fairness opinions were obtained for both Bit Digital and WhiteFiber, and independent committees of both boards approved the transaction.

Source: BTBT 8-K Items 1.01/2.03 filed 2026-05-27, acc 0001213900-26-061574; balances and subsequent draws from the WYFI 10-Q for the quarter ended 2026-06-30, Note 10 Debt · document

Borrower

WhiteFiber, Inc. (Enovum is the datacenter subsidiary)

Seniority

Senior; recourse/security of the amended agreement not disclosed

Maturity

2026-11-08 — Six months from the 5/8/26 drawdown; bullet at maturity

Collateral

Not disclosed

Lenders

Royal Bank of Canada

Pricing

Daily Simple CORRA + 2.75% or Royal Bank Prime + 1.00%, at company option; interest-only during term

Terms

Authorized CAD 28M (~$20M); CAD 24.7M (~$17.3M) drawn 5/8/26 for the MTL-3 acquisition and costs ($17.339M principal at 6/30/26). Replaced the never-drawn 6/18/25 agreement; the CAD 8M LC/LG revolving line remains in place separately. REPAID IN FULL AND REFINANCED 2026-07-15 through the Enovum Syndicated RBC Credit Facility (up to ~CAD 115M + CAD 25M accordion, CORRA + 2.45%; Q2-26 10-Q).

Source: Q2-26 10-Q (Note 10, RBC facility) · document

Borrower

WhiteFiber Iceland ehf. (borrower); guaranteed by WhiteFiber, Inc. and WhiteFiber AI, Inc.

Seniority

Senior secured; financial maintenance covenants on leverage, equity and loan-to-value, all in compliance at 2026-06-30

Maturity

2028-03-25 — Initial two-year term from 2026-03-25 with options to extend up to two further years, four years maximum. Quarterly principal instalments begin three months after the initial drawdown, balance due at maturity.

Collateral

Pledge of WhiteFiber Iceland shares + GPU/CPU servers, InfiniBand switches

Lenders

Landsbankinn hf.

Pricing

3-mo CME Term SOFR + 4.25%, 0% floor; stated rate 7.92% and effective rate 10.64% at 2026-06-30.

Terms

Up to $20M; $18.0M drawn 2026-04-24. Arrangement fee $0.2M, 1.111% of the amount drawn.

Source: WYFI 10-Q for the quarter ended 2026-06-30, Note 10 Debt, filed 2026-08-12, acc 0001213900-26-088026 · document

Borrower

WhiteFiber, Inc. (Cayman Islands issuer); Bit Digital owns ~69.6% (BTBT 10-Q, 2026-08-13)

Seniority

Senior unsecured

Maturity

2031-02-01 — Holder put and first call date both 2029-02-06; partial optional redemption requires at least $75.0M to remain outstanding and uncalled.

Lenders

144A QIBs; U.S. Bank Trust Co. (trustee)

Pricing

Semi-annual Feb 1 / Aug 1 from 2026-08-01; effective 5.37% at 2026-06-30. Initial conversion rate 38.5981 shares per $1,000 (~$25.91), a 27.5% premium to the $20.32 close on 2026-01-21.

Terms

$230.0M issued 2026-01-26, including full exercise of a $20.0M initial-purchaser option. On 2026-08-21, concurrently with the pricing of the 5.00% 2032 notes, WhiteFiber exchanged $198.15M of this series in privately negotiated transactions for approximately $118.5M in cash (including accrued interest) plus approximately 6.3 million ordinary shares; the company states the outstanding amount is "expected to be reduced to approximately $31.85 million." That is a company-stated expected residual at the time of filing, not a post-settlement balance-sheet figure. Separately, $120.0M of the original $222.1M of net proceeds was spent on a zero-strike call option for 5,905,511 shares, so cash retained from the issue was ~$102.1M.

Source: WYFI 10-Q for the quarter ended 2026-06-30, Note 10 Debt, filed 2026-08-12, acc 0001213900-26-088026 · document