WhiteFiber Secures North Carolina Sites for $60 Million AI Infrastructure Expansion
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Key Takeaways
- WhiteFiber bought 120 acres in Yadkin County for $60 million in cash to build AI data centers.
- The new NC-2 and NC-3 sites target an initial 60 MW, potentially growing to 200 MW by 2033.
- Technical issues with switchgear at the NC-1 campus delayed full revenue generation beyond August 2026.
- 35 MW of the 40 MW capacity at the Madison facility is currently operational.
- Ready-for-service status for the new Yadkin County campuses is projected for late 2027.
The recently acquired properties, designated NC-2 and NC-3, include 500,000 square feet of warehouse space located approximately 55 miles from WhiteFiber's Madison-based NC-1 campus. The company plans to begin with an initial 60 megawatts (MW) of utility capacity, with the long-term goal of scaling to 200 MW by 2033, depending on grid availability. To manage overhead during the transition, the seller will remain on-site under a partial leaseback agreement.
WhiteFiber reports significant commercial interest in the new sites, citing non-binding letters of intent from various potential clients, including those with investment-grade credit profiles. CEO Sam Tabar noted that the company is in advanced negotiations to secure long-term contracts that will dictate future development spending and financing schedules. The company aims to have the Yadkin County facilities ready for service by late 2027.
Alongside the expansion news, WhiteFiber addressed technical hurdles at its NC-1 facility. Problems with switchgear commissioning disrupted operations at the initial 20 MW data hall, pushing the facility's full billing schedule past the original August 2026 target. Currently, 35 MW of the intended 40 MW deployment is active, and work continues on the remaining capacity. Despite these delays, the company stated that capital expenditures for NC-1 remain aligned with the initial budget.
The company is also finalizing financing for the NC-1 deployment with a group of prospective lenders. While documentation is underway, WhiteFiber cautioned that the completion of this financing is not yet guaranteed. Detailed financial and operational data will be shared during the third-quarter earnings report scheduled for November 10, 2026.
