WhiteFiber, Inc. (Nasdaq: WYFI), a provider of artificial intelligence infrastructure solutions, announced on November 3, 2026, that it has completed the previously announced acquisition of two industrial properties in Yadkin County, North Carolina, designated NC-2 and NC-3.

The acquisition was completed through the company's wholly owned subsidiary, Enovum Data Centers Corp., with a purchase price of USD 60 million paid in cash.

WhiteFiber Plans Data Center Campuses Across 120 Acres

The properties, located approximately 55 miles from WhiteFiber's NC-1 campus in Madison, North Carolina, comprise approximately 120 acres of land and 500,000 square feet of existing warehouse space.

WhiteFiber intends to retrofit the properties into data center campuses, building on its regional development experience and operating capabilities.

Power Capacity and Development Timeline

The newly acquired sites are expected to provide a combined minimum of 60 megawatts of initial gross utility capacity, with the potential to support up to approximately 200 MW within seven years following closing, subject to confirmation and power availability.

WhiteFiber is targeting initial ready-for-service capacity at NC-2 and NC-3 in late 2027, subject to customary development conditions.

The company said its development spending plans are expected to be aligned with definitive customer agreements and financing. In connection with the acquisition, the seller will continue to occupy portions of the properties under occupancy and partial leaseback arrangements.

These arrangements are expected to offset a portion of property carrying costs as WhiteFiber advances its development plans.

Customer Interest Across the Portfolio

WhiteFiber has received non-binding letters of intent from a broad range of prospective customers for capacity at NC-2 and NC-3, as well as for expansion capacity at NC-1. These include proposals from investment-grade counterparties and proposals incorporating investment-grade credit support. The company is engaged in advanced discussions with prospective customers across these opportunities.

"We are encouraged by the breadth of customer demand, including proposals from investment-grade counterparties and proposals with investment-grade credit support," said Sam Tabar, Chief Executive Officer of WhiteFiber.

"We are building on our development and operating experience in North Carolina to meet strong customer demand across our portfolio. Our priority is to turn that demand into long-term contracts and develop capacity with the right customer and financing commitments in place. We look forward to working closely with local stakeholders as we develop these sites and being a responsible long-term partner to the community."

NC-1 Operational Update Following Commissioning Issues

Alongside the acquisition announcement, WhiteFiber provided an update on its NC-1 campus, where switchgear-related commissioning issues interrupted service and billing for the first 20 MW IT data hall and delayed NC-1's ramp to full contracted run-rate billing beyond the previously anticipated August timeframe. Approximately 35 MW of the contracted 40 MW IT deployment is now operational, with work ongoing to bring the remaining 5 MW online.

The company said the capital investment required to deliver the initial contracted deployment is substantially complete, with total development costs currently expected to remain within the company's initial budget.

Financing Progress at NC-1

WhiteFiber continues to advance financing for the initial contracted deployment at NC-1 with the previously disclosed prospective lending group. The parties are working through the remaining documentation and closing requirements.

The company cautioned that there can be no assurance that the financing will be completed.

Upcoming Financial Results

WhiteFiber will report its third-quarter 2026 financial results on November 10, 2026, and provide further financial and operating updates at that time.

The company describes itself as a provider of AI infrastructure solutions that owns high-performance computing data centers and provides cloud services to customers, with a vertically integrated model combining specialized colocation, hosting, and cloud services engineered to maximize performance, efficiency, and margin for generative AI workloads.

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