WhiteFiber Expands North Carolina Data Center Footprint with Agreement to Acquire Two New Development Sites

Rhea-AI Summary

WhiteFiber (NASDAQ: WYFI) agreed, via its subsidiary Enovum Data Centers, to acquire two industrial properties in Yadkin County, North Carolina, for a cash purchase price of $60 million. The sites will be retrofitted into data center campuses named NC-2 and NC-3, located about 55 miles from the existing NC-1 campus in Madison.

The properties are expected to provide at least 60 MW of initial gross utility capacity, with due diligence indicating potential for roughly 200 MW over time. WhiteFiber is targeting initial ready-for-service capacity in the third quarter of 2027, subject to completion of the acquisition and customary development conditions.

According to WhiteFiber, it is in advanced discussions with prospective customers and has received non-binding letters of intent backed by investment-grade credit support. The existing industrial infrastructure supports the company’s retrofit-first strategy, which is intended to accelerate time-to-market and improve capital efficiency versus greenfield development. Closing is expected in the fourth quarter of 2026, subject to customary conditions.

Positive

• $60 million cash acquisition adds NC-2 and NC-3 development sites in North Carolina
• Planned initial capacity of at least 60 MW, with potential up to about 200 MW
• Targeted initial ready-for-service capacity by Q3 2027, expanding AI and HPC infrastructure footprint
• Advanced customer discussions and non-binding LOIs with investment-grade credit support
• Retrofit-first development strategy leveraging existing industrial infrastructure for potential capital efficiency

Negative

• $60 million cash purchase represents a significant upfront capital outlay
• Project economics depend on closing in Q4 2026 and meeting development conditions
• Customer interest is based on non-binding letters of intent, not firm contracted revenue yet

Market Reaction – WYFI

+5.49% $31.14

15m delay

+5.49% Vs previous close

$31.14 Last Price

$29.47 $31.14 Day Range

$1.21B Market Cap

1.0x Rel. Volume

Following this news, WYFI has gained 5.49%, reflecting a notable positive market reaction. Our momentum scanner has triggered 10 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $31.14.

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Market Context

The agreement therefore adds planned capacity without a cited shelf overhang; the main watchpoints a...

Analysis

The agreement therefore adds planned capacity without a cited shelf overhang; the main watchpoints are closing, development conditions, and non-binding customer commitments.

Key Figures

Distance from NC-1: approximately 55 miles Initial Capacity: 60 MW Potential Capacity: approximately 200 MW +3 more

6 metrics

Distance from NC-1 approximately 55 miles Yadkin County properties

Initial Capacity 60 MW combined minimum initial gross utility capacity

Potential Capacity approximately 200 MW combined gross utility capacity over time

Ready-for-Service Target third quarter of 2027 initial capacity target

Cash Purchase Price $60.0 million properties acquisition

Expected Closing fourth quarter of 2026 subject to customary closing conditions

Historical Context

5 past events · Latest: Aug 13 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Aug 13	Second-quarter results	Neutral	-1.3%	Revenue growth and cash generation were accompanied by a reported net loss.
Aug 12	Infrastructure partnership	Positive	-1.3%	Exclusive partnership added 100MW of planned high-density GPU infrastructure capacity.
Aug 12	Second-quarter earnings	Positive	+18.0%	Revenue increased 54% year over year and NC-1 entered customer deployment.
Aug 12	Earnings correction	Positive	+18.0%	Corrected results retained revenue growth and 40MW NC-1 billing details.
Aug 05	Earnings date notice	Neutral	-5.2%	The company scheduled second-quarter results and its conference call.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent announcements showed inconsistent reactions, with two earnings-related entries posting 18% and other positive or mixed announcements posting negative reactions.

Key Terms

gross utility capacity, ready-for-service capacity, non-binding letters of intent, investment-grade credit support

4 terms

gross utility capacity technical

"The properties are expected to provide a combined minimum of 60 MW of initial gross utility capacity."

Total maximum output a power plant, pipeline, or other utility asset can produce or transmit before subtracting the facility’s own consumption, transmission losses, or maintenance downtime; it is the raw, top-line capacity number. Like a factory’s rated production before some goods are kept for internal use or lost in processing, gross utility capacity gives a sense of the asset’s scale and theoretical revenue potential, which investors use to compare assets and model future supply.

ready-for-service capacity technical

"WhiteFiber is targeting initial ready-for-service capacity in the third quarter of 2027"

Installed capacity that has been completed, tested, commissioned and is available to deliver goods or services immediately upon demand. For investors, it indicates the portion of a project or facility that can start generating revenue or output right away, like a finished restaurant with tables set and staff ready; it matters because it affects near-term production forecasts, cash flow potential and the timing of returns.

non-binding letters of intent financial

"has received non-binding letters of intent with investment-grade credit support."

Non-binding letters of intent are preliminary written outlines of the main terms and intentions for a proposed deal—such as a merger, acquisition, partnership, or major contract—created to guide negotiations but not legally force completion. They matter to investors because they signal that parties are seriously discussing a transaction, which can affect stock prices and prompt closer review, yet they do not guarantee the deal will happen.

investment-grade credit support financial

"letters of intent with investment-grade credit support."

A set of guarantees, collateral, insurance or contractual arrangements intended to back a debt or obligation where the backing is rated at investment-grade credit quality. Think of it like a solid co-signer or locked savings account that makes a loan or security less likely to suffer losses; for investors it affects perceived safety, credit ratings and pricing because higher-quality support usually means lower default risk and tighter borrowing costs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NC-2 and NC-3 would add 60 MW of initial capacity, with the potential to support approximately 200 MW over time

NEW YORK, Aug. 17, 2026 /PRNewswire/ -- WhiteFiber, Inc. (NASDAQ: WYFI) ("WhiteFiber" or the "Company"), a leading provider of AI infrastructure and high-performance computing solutions, today announced that, through its wholly owned subsidiary Enovum Data Centers Corp., it has entered into a definitive agreement to acquire two industrial properties in Yadkin County, North Carolina. WhiteFiber intends to retrofit the properties into data center campuses to be known as NC-2 and NC-3.

Located approximately 55 miles from WhiteFiber's NC-1 data center campus in Madison, North Carolina, NC-2 and NC-3 would significantly expand the Company's presence in the state. Their proximity to NC-1 would allow WhiteFiber to build on the regional development experience, operating capabilities and relationships it has established through its existing campus.

The properties are expected to provide a combined minimum of 60 MW of initial gross utility capacity. Initial due diligence indicates that NC-2 and NC-3 have the potential to support up to approximately 200 MW of combined gross utility capacity over time. WhiteFiber is targeting initial ready-for-service capacity in the third quarter of 2027, subject to completion of the acquisition and customary development conditions.

WhiteFiber is engaged in advanced discussions with prospective customers and has received non-binding letters of intent with investment-grade credit support. The properties' existing industrial infrastructure and surrounding land are well suited to WhiteFiber's retrofit-first development strategy, which is designed to accelerate time-to-market and improve capital efficiency relative to traditional greenfield development.

"This agreement is an important next step in scaling WhiteFiber's data center platform," said Sam Tabar, Chief Executive Officer of WhiteFiber. "NC-2 and NC-3 would expand our North Carolina footprint near NC-1, allowing us to build on the capabilities and relationships we have established in the region. With strong prospective customer interest and initial capacity targeted for 2027, we believe these properties can become a meaningful next phase of our growth. We look forward to working closely with local stakeholders and being a responsible long-term partner to the community."

The cash purchase price for the properties is $60.0 million. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

About WhiteFiber, Inc.

WhiteFiber is a provider of artificial intelligence ("AI") infrastructure solutions. WhiteFiber owns high-performance computing data centers and provides cloud services to customers. Our vertically integrated model combines specialized colocation, hosting, and cloud services engineered to maximize performance, efficiency, and margin for generative AI workloads. For more information, visit www.whitefiber.com. Follow us on LinkedIn and X @WhiteFiber.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities laws. Such statements include, but are not limited to, statements about the anticipated closing of the acquisition of the two industrial properties in Yadkin County, North Carolina, including the timing and satisfaction of closing conditions; the Company's plans to develop the properties as data center campuses; expected utility capacity and targeted ready-for-service timelines; prospective customer interest and non-binding letters of intent; and the expected benefits of the Company's retrofit-first development strategy, including with respect to time-to-market and capital efficiency. These statements may be identified by words such as "will likely result," "are expected to," "will continue," "will allow us to" "is anticipated," "estimated," "expected", "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. These forward-looking statements are based upon the current beliefs and expectations of the Company's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. The Company undertakes no obligation to update any forward-looking statements except as required by law. All forward-looking statements speak only as of the date of this press release.

Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the forward-looking statements contained herein are reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of new information, future developments or otherwise occurring after the date of this communication.

Investor Contact
WhiteFiber
IR@whitefiber.com

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SOURCE WhiteFiber, Inc.

FAQ

What did WhiteFiber (NASDAQ: WYFI) announce about new data center sites in North Carolina?

WhiteFiber announced a definitive agreement to acquire two industrial properties in Yadkin County, North Carolina, for data center development. According to WhiteFiber, the sites will become NC-2 and NC-3 campuses, expanding its presence near the existing NC-1 campus in Madison.

How much capacity could WhiteFiber’s NC-2 and NC-3 data centers support for WYFI investors?

WhiteFiber expects NC-2 and NC-3 to provide at least 60 MW of initial gross utility capacity. According to WhiteFiber, initial due diligence suggests potential to support approximately 200 MW of combined gross utility capacity over time, significantly scaling its AI and high-performance computing infrastructure.

What is the purchase price and closing timeline for WhiteFiber’s NC-2 and NC-3 acquisition (WYFI)?

The cash purchase price for the two properties is $60 million. According to WhiteFiber, the transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions associated with real estate and development transactions.

When will WhiteFiber’s NC-2 and NC-3 data centers be ready for service for WYFI customers?

WhiteFiber is targeting initial ready-for-service capacity in the third quarter of 2027. According to WhiteFiber, this timing depends on successful completion of the acquisition and customary development conditions, including retrofitting the existing industrial infrastructure into data center campuses.

Does WhiteFiber have customer interest for the planned NC-2 and NC-3 data centers (WYFI)?

WhiteFiber reports advanced discussions with prospective customers and receipt of non-binding letters of intent. According to WhiteFiber, these LOIs include investment-grade credit support, indicating initial demand, though they do not yet represent binding revenue commitments for the new campuses.

How does the NC-2 and NC-3 acquisition support WhiteFiber’s retrofit-first strategy and WYFI shareholders?

The NC-2 and NC-3 properties have existing industrial infrastructure and surrounding land suited to retrofitting. According to WhiteFiber, this aligns with its retrofit-first development strategy, which is intended to accelerate time-to-market and improve capital efficiency compared with traditional greenfield data center development.

Where are WhiteFiber’s NC-2 and NC-3 campuses located relative to the NC-1 facility in North Carolina?

The NC-2 and NC-3 development sites are in Yadkin County, approximately 55 miles from the NC-1 campus in Madison. According to WhiteFiber, this proximity lets the company leverage regional development experience, operating capabilities, and relationships established through its existing North Carolina campus.