WhiteFiber (WYFI), a Nasdaq-listed data center and colocation provider focused on artificial intelligence and high-performance computing, said its subsidiary Enovum Data Centers signed a long-term colocation agreement with Nscale Global Holdings, a provider of artificial intelligence infrastructure and cloud services, in a press release Thursday.
Shares rose 13% in after-hours trading to $16.19 following news of the deal.
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 period, including annual rate increases and non-recurring installation services, but excluding electricity and other indirect costs.
The data center provider spun off traditional miner Bit Digital (BTBT) and went public in August this year, selling 9.4 million shares in an expanded initial public offering to raise around $160 million in gross proceeds.
Bitcoin miners are increasingly turning to AI to monetize energy contracts and infrastructure. Hut 8 surged as much as 20% on Wednesday after signing a 15-year, $7 billion lease with Fluidstack for 245 MW of IT 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 usage effectiveness of 1.3 or better.
The company said the campus is supported by a 99 MW capacity agreement with Duke Energy and that management believes the site can support up to 200 MW of total power supply over time, subject to infrastructure improvements and other conditions.
WhiteFiber has invested about $150 million of capital into the NC-1 site and is in advanced discussions with lenders about financing options for construction and broader growth. It expects to formalize a credit facility early in the first quarter of 2026 and is evaluating potential credit enhancement structures.
“This agreement validates our strategy to design NC-1 to meet hyperscaler specifications and support the most advanced AI workloads,” WhiteFiber CEO Sam Tabar said in the statement.
“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.
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