WhiteFiber buys two data center sites in North Carolina for $60 million
WhiteFiber has completed the acquisition of two industrial properties in North Carolina that could provide a combined initial capacity of at least 60 megawatts. The company also said that about 35 megawatts of the planned 40 megawatts is already operational at the NC-1 site.
- WhiteFiber bought the NC-2 and NC-3 sites for $60 million.
- The two properties comprise approximately 120 acres and 500,000 square feet of warehouse space.
- Combined initial capacity could be at least 60 megawatts and could eventually be expanded to approximately 200 megawatts.
- Approximately 35 megawatts of NC-1’s contracted 40-megawatt buildout is operational.
- WhiteFiber will report its third-quarter 2026 results on November 10.
North Carolina portfolio expands with two new sites
WhiteFiber said on November 3 that it had completed the previously announced acquisition. The company’s wholly owned subsidiary, Enovum Data Centers Corp., acquired two industrial properties in Yadkin County, North Carolina. The sites are designated NC-2 and NC-3.
The cash purchase price was $60 million. The properties are located about 55 miles from WhiteFiber’s NC-1 campus in Madison. Together, the two sites comprise approximately 120 acres of land and 500,000 square feet of existing warehouse space.
WhiteFiber plans to convert the properties into data center campuses, drawing on the company’s development and operating experience in North Carolina.
Capacity could reach 200 megawatts
According to the company, NC-2 and NC-3 could provide a combined initial gross grid capacity of at least 60 megawatts. Capacity could be increased to approximately 200 megawatts within seven years of closing, although this will require further reinforcement and adequate power supply.
WhiteFiber is targeting initial service-ready capacity at the two new sites by the end of 2027, subject to customary development conditions. The company said development spending will be aligned with final customer contracts and financing.
The company has received non-binding letters of intent from several prospective customers for capacity at NC-2 and NC-3, as well as for the expansion of NC-1. The proposals include offers from investment-grade counterparties and structures supported by investment-grade credit. WhiteFiber is in advanced discussions with the potential customers.
According to the acquirer, the seller will continue to use portions of the properties under use and partial leaseback agreements. These are expected to partially offset the properties’ carrying costs until development progresses.
NC-1 falls behind its previous ramp-up plan
WhiteFiber also provided an update on operations at NC-1. Commissioning issues related to switchgear interrupted service and billing in the first 20-megawatt IT data hall. As a result, the site’s ramp-up to its full contractual billing run rate was delayed beyond the previously expected August date.
Approximately 35 megawatts of the contracted 40-megawatt buildout is operational. Work is continuing to bring the remaining 5 megawatts online. WhiteFiber said the capital investment required for the initial contracted buildout is largely complete, while total development costs are currently expected to remain within the initial budget.
The company continues to work with the previously identified lender group on financing the initial contracted buildout at NC-1. The parties are working through the remaining documentation and closing conditions, but WhiteFiber said there is no assurance that the financing will be completed.
Further details may arrive on November 10
Sam Tabar, WhiteFiber’s chief executive, said the company is encouraged by the breadth of demand, particularly proposals from investment-grade counterparties and offers backed by investment-grade credit. The executive said WhiteFiber aims to convert this demand into long-term contracts and develop capacity alongside appropriate customer and financing commitments.
The company will release its financial results for the third quarter of 2026 on November 10. It said it will provide further financial and operational information on NC-1 and its development plans at that time.
