WhiteFiber, Inc. (Nasdaq: WYFI) completed the $60 million cash purchase of two industrial properties in Yadkin County, North Carolina, and gave an operating update on its existing NC-1 data center campus in Madison, North Carolina, in a November 3 press release filed with the SEC.
The properties, designated NC-2 and NC-3, cover about 120 acres and 500,000 square feet of existing warehouse space, roughly 55 miles from NC-1. WhiteFiber expects a combined minimum of 60 MW of initial gross utility capacity, with potential to support up to about 200 MW within seven years of closing, subject to confirmation and power availability. The company plans to retrofit the buildings into data center campuses and is targeting initial ready-for-service capacity in late 2027. The seller will keep occupying portions of the properties under occupancy and partial leaseback arrangements.
WhiteFiber said it has received non-binding letters of intent from prospective customers for capacity at NC-2 and NC-3 and for expansion at NC-1, including proposals from investment-grade counterparties and proposals with investment-grade credit support.
At NC-1, switchgear-related commissioning issues interrupted service and billing for the first 20 MW IT data hall and pushed the ramp to full contracted run-rate billing past the previously anticipated August timeframe. About 35 MW of the contracted 40 MW IT deployment is now operational, and work continues on the remaining 5 MW. The company said total development costs are expected to remain within its initial budget. Financing for the initial NC-1 deployment with a prospective lending group is still in documentation, and WhiteFiber said there is no assurance it will be completed.
WhiteFiber will report third-quarter 2026 financial results on November 10.
Source: WhiteFiber press release (SEC Form 8-K Exhibit 99.1) - https://www.sec.gov/Archives/edgar/data/0002042022/000121390026115575/ea031063901ex99-1.htm