Instruments

Credit facility $50m 5.45% Entered 2026-05-20

Seniority: Collateralized; margin-call/NAV triggers
Maturity: Master 1-yr auto-renew (from 3/27/26)
Collateral: LsETH pledged to the lender for the initial draw (BTBT 10-Q, 2026-08-13). The master agreement permits Dollars or Digital Currency as collateral per term sheet. Additional collateral is required if value falls below the Margin Call Rate; the agreement terminates on, among other things, a 25% month-end decline in the company's net asset value.
Lenders: Galaxy Digital LLC
Pricing: 5.45% per annum on the initial draw, per the 8-K. The Q2-26 10-Q rounds this to 5.5%. A late fee of 5% annualised applies for each business day a borrowed asset is not returned when due.
Terms: $50.0M drawn 2026-05-20 to fund the WhiteFiber NC-1 delayed-draw term loan; the Galaxy agreement had not been drawn before that. Facility uncapped, sized loan by loan under individual Loan Term Sheets. Evergreen: recallable by Galaxy on seven days' notice, and classified as a current liability because the company has no unconditional right to defer settlement for twelve months.

Source: 8-K 5/27/26 · document

Convertible $150m 4% Entered 2025-10-02

Seniority: Senior unsecured (structurally junior to WhiteFiber)
Maturity: 2030-10-01
Lenders: U.S. Bank (trustee) · Underwriters: Barclays, Cantor, B. Riley
Pricing: Conversion $4.16; holder put Oct 1, 2028
Terms: Effective 11.7% Confirmed outstanding 6/30/26; holders hold a one-time noncontingent put at 100% of principal (Q2-26 10-Q, filed 8/13/26).

Source: 8-K 10/2/25; 424B5 10/1/25 · document

Collateral classes on this page: out. The full ledger, with every issuer and the derived credit series, is on Compute Credit.