WhiteFiber Buys Two North Carolina Data Center Sites for $60 Million

WhiteFiber announced (WYFI ) on November 3, 2026 that its wholly owned subsidiary Enovum Data Centers Corp. had completed the $60 million cash acquisition of two industrial properties in Yadkin County, North Carolina, designated NC-2 and NC-3. The company paired the closing with an NC-1 update: switchgear-related commissioning issues have delayed that campus’s ramp to full contracted run-rate billing beyond the previously anticipated August timeframe.

The acquisition adds a development footprint rather than operating data centers. The properties comprise approximately 120 acres and 500,000 square feet of existing warehouse space, approximately 55 miles from WhiteFiber’s NC-1 campus in Madison, North Carolina. WhiteFiber intends to retrofit them into data center campuses. The seller will continue occupying portions under occupancy and partial leaseback arrangements; WhiteFiber expects those arrangements to offset part of the properties’ carrying costs while development proceeds.

Power Capacity Depends on Customers and Financing

WhiteFiber’s development plan calls for a combined minimum of 60 megawatts of initial gross utility capacity at NC-2 and NC-3, with initial ready-for-service capacity targeted for late 2027, subject to customary development conditions. The sites could support up to approximately 200 megawatts within seven years after closing, subject to confirmation and power availability. Those figures describe potential utility capacity, not capacity already in service.

Customer commitments also remain prospective. WhiteFiber has received non-binding letters of intent covering NC-2, NC-3 and expansion capacity at NC-1, including proposals from investment-grade counterparties and proposals with investment-grade credit support. It is engaged in advanced discussions with prospective customers across these opportunities. The company plans to align development spending with definitive customer agreements and financing.

Chief Executive Officer Sam Tabar said: “Our priority is to turn that demand into long-term contracts and develop capacity with the right customer and financing commitments in place.”

NC-1 Commissioning Interrupts Service and Billing

The company reported that the switchgear issues interrupted service and billing for NC-1’s first 20-megawatt IT data hall. Approximately 35 megawatts of the contracted 40-megawatt IT deployment are now operational, with work continuing on the remaining 5 megawatts.

Capital investment required for the initial contracted deployment is substantially complete, and WhiteFiber currently expects total development costs to remain within the initial budget. Financing for that deployment is still being pursued with the previously disclosed prospective lending group. The parties are working through the remaining documentation and closing requirements, and there can be no assurance that the financing will be completed. NC-1 therefore has substantial physical progress but an unfinished billing ramp and financing process.

The timetable for the new sites has also changed since the original agreement. On August 17, 2026, WhiteFiber targeted initial ready-for-service capacity in the third quarter of 2027 and expected the acquisition to close in the fourth quarter of 2026. The purchase met that closing window, while the completed-transaction update now uses late 2027 for initial service.

WhiteFiber will report third-quarter 2026 results on November 10, 2026 and provide further financial and operating updates. The acquisition adds land, buildings and potential power capacity, but the accompanying disclosures keep the focus on conversion: turning non-binding customer interest into definitive agreements, securing financing and completing NC-1’s commissioning and billing ramp.