WhiteFiber (WYFI), a Nasdaq-listed data center and colocation provider focused on AI and high-performance computing, said its subsidiary Enovum Data Centers signed a long-term colocation agreement with Nscale Global Holdings, an AI infrastructure and cloud services provider, in a press release Thursday.
The agreement covers 40 megawatts (MW) of critical IT load at WhiteFiber’s NC-1 data center campus in Madison, North Carolina, with a planned two-phase deployment of 20 MW, the company said.
The agreement represents approximately $865 million in contracted revenue over an initial 10-year term, including annual rate escalations and one-time installation services, but excluding electricity and certain other pass-through costs.
The data center provider spun off from former miner Bit Digital (BTBT) and went public in August this year, selling 9.4 million shares in an expanded IPO to raise about $160 million in gross proceeds.
Bitcoin miners are increasingly turning to AI to monetize electricity contracts and infrastructure. Hut 8 rose 20% Wednesday after signing a 15-year, $7 billion lease with Fluidstack for 245 MW of computing capacity at its River Bend campus.
WhiteFiber described the installation as Level 3 equivalent and “ultra high density,” designed to support up to 150 kilowatts (kW) per cabinet with fully redundant power distribution and N+1 cooling, and targeting an average power consumption efficiency of 1.3 or better.
The company said the campus is supported by a 99 MW capacity agreement with Duke Energy and management estimates the site could support up to 200 MW of total electrical supply over time, subject to infrastructure upgrades and other conditions.
WhiteFiber has invested approximately $150 million in equity in the NC-1 site and is in advanced discussions with lenders on financing options for construction and broader growth. It plans to formalize a credit facility early in the first quarter of 2026 and is currently evaluating potential credit enhancement structures.
“This agreement validates our strategy to design NC-1 to meet the specifications of hyperscalers and support the most advanced AI workloads,” Sam Tabar, CEO of WhiteFiber, said in the release.
“We look forward to working closely with Nscale as we plan the potential expansion of this deployment to double its initial size by the end of 2027,” he added.
WhiteFiber shares closed up 0.9% at $14.30 on Thursday.
Read more: Hut 8 stock rises 20% on Fluidstack AI data center deal
