New York – November 03, 2026 -- WhiteFiber (Nasdaq: WYFI) has completed a $60 million all-cash acquisition of two industrial properties in Yadkin County, North Carolina, adding sites with a potential path to roughly 200 MW of AI data center capacity. The deal closed through its wholly owned subsidiary Enovum Data Centers Corp.
Yadkin County sites offer 60 MW initially and up to 200 MW within seven years
The properties, designated NC-2 and NC-3, cover about 120 acres and 500,000 square feet of existing warehouse space. They sit roughly 55 miles from WhiteFiber's NC-1 campus in Madison, North Carolina.
WhiteFiber expects a combined minimum of 60 MW of initial gross utility capacity. The sites could support up to about 200 MW within seven years of closing, subject to confirmation and power availability. The company plans to retrofit the warehouses into data center campuses and targets initial ready-for-service capacity in late 2027, subject to customary development conditions.
The seller will keep occupying portions of the properties under occupancy and partial leaseback arrangements. WhiteFiber expects these to offset part of the property carrying costs during development.
Non-binding letters of intent cover NC-2, NC-3 and NC-1 expansion
WhiteFiber has received non-binding letters of intent from a broad range of prospective customers for capacity at the new sites and for expansion at NC-1. Some proposals come from investment-grade counterparties, and others include investment-grade credit support. The company says it is in advanced discussions with prospective customers.
Development spending is expected to track definitive customer agreements and financing. CEO Sam Tabar said the priority is to "turn that demand into long-term contracts" with customer and financing commitments in place.
NC-1 reaches 35 MW of its 40 MW contracted deployment after switchgear delays
Switchgear-related commissioning issues interrupted service and billing for the first 20 MW IT data hall. They also pushed NC-1's 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 to bring the remaining 5 MW online.
Capital investment for the initial contracted deployment is substantially complete. Total development costs are expected to stay within the initial budget.
Financing for the NC-1 deployment is still pending with the previously disclosed prospective lending group. The parties are working through remaining documentation and closing requirements, and WhiteFiber states there is no assurance the financing will be completed.
WhiteFiber will report third-quarter 2026 results on November 10, 2026, and provide further financial and operating updates then.