WhiteFiber (WYFI), a Nasdaq-listed data center and colocation provider focused on AI and high performance computing, announced in a press release Thursday that its subsidiary Enovum Data Centers has signed a long-term colocation agreement with Nscale Global Holdings, an AI infrastructure and cloud services provider.
Shares rose 13% to $16.19 in after-hours trading on news of the deal.
The contract covers 40 megawatts (MW) of critical IT load at WhiteFiber's NC-1 data center campus in Madison, North Carolina, with deployment planned in two 20MW phases, the company said.
The contract represents approximately $865 million in contract revenue over the first 10 years, including annualized escalator and non-recurring installation services, but excluding power and certain other pass-through costs.
The data center provider spun out of legacy miner Bit Digital (BTBT) and went public in August this year, selling 9.4 million shares in a massive IPO, raising total proceeds of about $160 million.
Bitcoin miners are increasingly focusing on AI to monetize power contracts and infrastructure. Hut 8 rose as much as 20% on Wednesday after signing a 15-year, $7 billion lease with Fluidstack for 245 MW of IT capacity at its Riverbend campus.
WhiteFiber describes the facility as a Tier 3-equivalent “ultra-dense” facility, designed to support up to 150 kilowatts (kW) per cabinet with fully redundant power distribution and N+1 cooling, and targeted for an average power usage efficiency of 1.3 or higher.
The company said the campus is supported by a 99 MW capacity contract with Duke Energy, and management believes the site could support up to 200 MW of total power delivery in the long term, subject to infrastructure upgrades and other conditions.
White Fiber has invested approximately $150 million in equity in the NC-1 site and is in advanced discussions with lenders regarding financing options for construction and broader growth. The Company expects to formalize the credit facility in early Q1 2026 and is evaluating potential credit enhancement structures.
“This contract validates our strategy to engineer NC-1 to meet hyperscaler specifications and support cutting-edge AI workloads,” WhiteFiber CEO Sam Tabar said in a release.
“We look forward to working closely with Nscale as we plan for the potential expansion of this deployment to double its original size by the end of 2027,” he added.
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