Bit Digital originated a $100 million delayed-draw term loan for WhiteFiber, its majority-owned AI/HPC infrastructure play, with room to expand the facility to $150 million. The twist is the funding stack: Bit Digital expects to draw against an Ethereum-denominated secured credit facility, keeping ETH exposure while trying to earn a lending spread it says beats plain staking yields. B. Riley bought part of the loan, and the related-party setup cleared board review with independent committee and fairness opinions.

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