WhiteFiber Buys 2 NC Data Centers

WhiteFiber has agreed to acquire two North Carolina data center sites for $60 million in cash. The planned data-center campuses will provide at least 60 MW of combined initial gross utility capacity.

The acquisition is expected to close during the fourth quarter. The properties could eventually support approximately 200 gross MW, with initial ready-for-service capacity targeted for the third quarter of 2027.

The sites are about 55 miles from WhiteFiber's NC-1 campus in Madison. WhiteFiber has received non-binding letters of intent carrying investment-grade credit support from prospective customers.

WhiteFiber reported $60.4 million of cash and restricted cash as of June 30. The company also expanded its RBC credit arrangement to C$115 million, or approximately $82.8 million, with a conditional C$25 million accordion.

## What it means The acquisition is a significant expansion of WhiteFiber's North Carolina footprint. The company's nearby NC-1 campus began billing customers during the second quarter and is expected to reach billing at the full run rate for 40 MW of contracted IT load in August. The new data centers will build on the capabilities and relationships established in the region.

The acquisition is part of WhiteFiber's retrofit-first strategy, which aims to reduce development time and improve capital efficiency compared with greenfield construction. The existing industrial infrastructure and surrounding land at the sites fit this strategy.

The deal is subject to customary conditions, and the prospective customers were not identified. However, the non-binding letters of intent carrying investment-grade credit support indicate advanced discussions with potential clients.

## Why it matters The acquisition of the two North Carolina data center sites is a significant investment for WhiteFiber. The company's expansion in the region will provide more capacity for customers and increase its presence in the market. The deal also highlights the growing demand for data center capacity, driven by the increasing need for cloud computing, artificial intelligence, and other digital technologies.

The acquisition is expected to have a positive impact on WhiteFiber's business, with the potential to increase revenue and profitability. The company's retrofit-first strategy and existing relationships in the region will help to reduce development time and improve capital efficiency.