Sam Tabar
Bit DigitalAbout Sam Tabar
Sam Tabar is Chief Executive Officer of Bit Digital (BTBT) since March 31, 2023; he previously served as Chief Strategy Officer from March 31, 2021 to March 31, 2023. He is age 53, holds a BA from Oxford University and an LL.M. from Columbia Law School, and is a member of the New York State Bar Association . Tabar also serves as Chief Executive Officer of WhiteFiber, Inc. (Nasdaq: WYFI), BTBT’s majority-owned AI infrastructure subsidiary, where he reported strong demand for GPU cloud and data center capacity in 2025 . Under his leadership, Bit Digital executed a strategic pivot to an Ethereum-native treasury and staking model, emphasizing yield generation and disciplined capital allocation to compound value per share .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Bit Digital | Chief Strategy Officer | Mar 2021–Mar 2023 | Led strategy through crypto cycles; prepared groundwork for ETH treasury shift |
| Centerboard Securities LLC | Independent contractor, FINRA registered rep | Jan 2020–Mar 2023 | Capital markets engagement supporting digital asset initiatives |
| Fluidity | Co-Founder & Chief Strategy Officer | Apr 2017–Jun 2020 | Strategy for blockchain applications and digital asset platforms |
| FullCycle Fund | Partner | Dec 2015–Apr 2017 | Investment and strategy experience in climate and infrastructure |
| Bank of America Merrill Lynch (APAC) | Director & Head of Capital Strategy | Feb 2010–Apr 2011 | Institutional capital strategy leadership in Asia-Pacific |
| Sparx Group | Co-Head of Marketing | 2004–2010 | Marketing leadership at Japan’s largest independent asset manager |
| Skadden, Arps, Meagher & Flom LLP | Associate | 2001–2004 | Legal foundation supporting capital markets and transactions |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| WhiteFiber, Inc. (Nasdaq: WYFI) | Chief Executive Officer | 2025–present | Reported Q2 2025 revenue of $18.7M (+48% YoY); cloud gross margin 61%; NC-1 data center acquisition; undrawn CAD $60M debt facility |
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary ($) | $500,000 | $500,000 |
| Cash Bonus ($) | $0 | $1,100,000 |
| Target Bonus % | Not disclosed | Not disclosed |
Performance Compensation
| Incentive Type | Year | Grant Details | Vesting | Grant-Date Fair Value ($) |
|---|---|---|---|---|
| RSUs | 2021 | 120,765 RSUs under 2021 Omnibus Equity Plan | Not specified | Not specified |
| RSUs | 2023 | 300,000 RSUs (2021 Second Omnibus Equity Plan) | Fully vested upon grant (part of 1,245,000 since CEO appointment) | $1,239,500 |
| RSUs | 2024 | 945,000 RSUs | Fully vested upon grant | $3,222,650 |
Notes:
- Company disclosures do not specify quantitative performance metrics (weighting, targets, payout curves) tied to CEO compensation; bonuses are discretionary and determined by the Board. No PSU framework or TSR/EBITDA targets are disclosed for Tabar .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 2,663,089 Ordinary Shares; less than 1% of outstanding Ordinary Shares as of July 18, 2025 |
| Shares outstanding (reference date) | 319,965,103 Ordinary Shares |
| Preference Shares held | None for Tabar (preference shares held by Geney; 50 votes per preference share) |
| Vested vs unvested | No outstanding unvested equity awards reported at FY2024 year-end; RSU grants since becoming CEO have vested upon grant (1,245,000 shares), plus 175,765 shares from prior RSUs/consulting |
| Options | No option awards outstanding (table shows none) |
| Pledging/Hedging | Anti-hedging and anti-pledging policies prohibit hedging/pledging by directors and officers |
| 10b5-1 plans | No Rule 10b5-1 trading arrangements held by any officer or director noted in proxy |
| Ownership guidelines | Not disclosed |
Employment Terms
- Contract term: Two-year Employment Agreement effective March 31, 2021; salary increased to $500,000 from Jan 1, 2022; second amendment dated March 31, 2023 extended term for an additional two years with Tabar as CEO .
- Severance: If terminated without Cause two years from the March 31, 2023 amendment date, or for Good Reason, or upon non-renewal, Tabar is entitled to a lump sum equal to (years employed + 2) × one month of Base Salary, with a minimum of six months’ Base Salary .
- Non-compete / non-solicit: During employment, Tabar agreed to non-competition and non-solicitation restrictions, confidentiality obligations, and assignment of inventions, with assignment obligations extending two years after employment .
- Clawback policy: Board adopted a clawback policy on Nov 23, 2023 for recovery of executive compensation in event of accounting restatement; no recoveries to date .
Compensation Structure Analysis
- Mix shift: CEO compensation in 2023–2024 is heavily equity-linked via large RSU grants that vest immediately, increasing liquidity of awards and potentially reducing long-dated performance risk versus options/PSUs .
- Discretionary bonuses: A substantial $1.1M cash bonus was paid in 2024; specific performance criteria are not disclosed for Tabar .
- Immediate vesting: RSU grants since becoming CEO have vested upon grant; as of FY2024, unvested awards are not reported, indicating limited retention leverage from unvested equity .
- Dilution context: Management and the Board proposed increasing authorized share capital to pursue ETH purchase strategy and other corporate purposes, signaling potential future equity issuance and dilution, though the Board stated no specific issuance plan at proposal time .
Performance & Track Record
- Strategic pivot to Ethereum treasury and staking: Management emphasized ETH yield generation, institutional adoption, and disciplined capital allocation to grow value per share; clarified capital markets tools including potential share authorization increase to support ETH accumulation .
- Operational execution: Company reported winding down bitcoin mining with remaining activity converted into ETH to support treasury strategy; CEO commentary underscores conviction in ETH and AI infrastructure exposure via WhiteFiber stake .
- WhiteFiber leadership: As WhiteFiber CEO, Tabar oversaw an IPO (Aug 2025) and reported Q2 2025 revenue of $18.7M (+48% YoY), cloud services revenue $16.6M (gross margin 61%), colocation revenue $1.7M (gross margin 60%), acquisition of NC-1 data center, and an undrawn CAD $60M facility; adjusted EBITDA was $3.3M (down vs Q2 2024) .
Investment Implications
- Alignment vs retention: Large, immediately-vested RSU grants enhance near-term alignment but reduce long-term retention hooks, potentially lowering the cost of departure; absence of unvested equity reduces future insider selling pressure tied to vesting events, but liquidity of awards is high .
- Pay-for-performance transparency: Lack of disclosed quantitative performance metrics tied to CEO bonus or RSU outcomes limits investors’ ability to assess pay-for-performance rigor; presence of clawback mitigates restatement risk .
- Share supply/dilution watch: Board’s request to increase authorized share capital to fund ETH purchases indicates potential future issuance; monitor authorization outcomes and issuance terms for dilution and pricing discipline .
- Policy safeguards: Anti-hedging/anti-pledging policies and no 10b5-1 plans disclosed reduce alignment red flags, though absence of ownership guidelines leaves a gap in formal “skin-in-the-game” targets .
- Strategy execution: ETH treasury focus and AI infrastructure exposure are long-cycle plays; monitor ETH staking yields, treasury size, and WhiteFiber capacity ramp and contract wins to gauge value creation under Tabar’s tenure .
