WhiteFiber has entered into a C$60m (US$44m) credit agreement with the Royal Bank of Canada.

The funding will be used to finance the company’s data center plans.

WhiteFiber was formed after crypto firm turned AI and colo provider Bit Digital acquired Enovum Data Centers. Enovum offered GPUaaS and colo services prior to the acquisition, but it delegated the former to WhiteFiber in order to concentrate on the latter. The two exist as separate entities under Bit Digital, and WhiteFiber continues to use Enovum's data centers to host its GPUs.

The agreement consists of a real estate term loan, equipment financing, and a three-year revolving facility with an interest rate determined by the Canadian Overnight Repo Rate Average plus 250 basis points (or 2.5 percent).

WhiteFiber CEO Sam Tabar said that “no other company operating at the intersection of HPC cloud and data centers has secured financing of this nature, to our knowledge. We believe that this is a strong endorsement of our business model, the quality of our assets, balance sheet, and ability to execute.”

WhiteFiber currently hosts its GPU cloud platform with Enovum, and the agreement is guaranteed by Enovum's Montreal II data center. The facility, acquired in December 2024, will offer 5MW of capacity. The company initially stated that the data center would be operational by May 2025, but mentioned in its Q1 earnings call that the opening had been delayed to Q3 due to the timing of debt financing.

Enovum operates another facility in Montreal – Montreal I – which offers 24MW of capacity and recently secured the rights to a new data center in Quebec, dubbed Montreal III.

WhiteFiber recently acquired a 96-acre, 1 million sq ft (92,903 sqm) industrial property in Madison, North Carolina, for a data center that could offer 200MW of capacity at full buildout.