WhiteFiber and Nscale Announce 10-Year, 40 MW Colocation Agreement Representing Approximately $865 Million in Total Contract Value at NC-1 AI Data Center Campus (Form 8-K)

WhiteFiber and Nscale Announce 10-Year, 40 MW Colocation Agreement Representing Approximately $865 Million in Total Contract Value at NC-1 AI Data Center Campus

NEW YORK, December 18, 2025 - WhiteFiber, Inc. (Nasdaq: WYFI) ("WhiteFiber" or the "Company"), a next-generation data center and colocation provider purpose-built for artificial intelligence (AI) and high-performance computing (HPC), today announced its subsidiary, Enovum Data Centers Corp., has executed a long-term colocation agreement with Nscale Global Holdings ("Nscale"), an AI infrastructure and cloud services provider serving enterprise and public sector customers.

The agreement secures the first 40 megawatt delivery of critical IT load at WhiteFiber's flagship NC-1 data center campus in Madison, North Carolina. The contract represents approximately $865 million in contracted revenue over the initial 10-year term, including contractual annual rate escalators and required non-recurring installation services, but excluding electricity and certain other costs passed through to the customer. Nscale is deploying this capacity to power the AI infrastructure of leading, global investment grade technology customers.

WhiteFiber is in advanced discussions with several leading lenders, and anticipates multiple institutional financing options that address both immediate NC-1 construction requirements and broader growth objectives. The contemplated construction facility is expected to feature an accordion or similar structure, enabling access to additional capital and financial agility to support new opportunities both at NC-1 and across WhiteFiber's broader development portfolio. To date, WhiteFiber has invested approximately $150 million of equity into the site, significantly de-risking the debt financing. The Company expects to formalize a credit facility in early Q1 2026 and expects to achieve financing terms at an attractive spread to yield on cost. WhiteFiber is actively evaluating potential investment-grade credit enhancement structures in connection with this deployment. If implemented, such arrangements are expected to support debt financing on attractive terms.

"WhiteFiber has taken a prudent and cautious approach to client selection. We took our time, reviewing multiple offers before selecting Nscale, a partner with a proven track record of hyperscaler deployments," said Sam Tabar, CEO of WhiteFiber. "This agreement validates our strategy to engineer NC-1 to meet hyperscaler specifications and support the most advanced AI workloads. We look forward to working closely with Nscale as we plan for the potential expansion of this deployment toward double its initial size by the end of 2027."

"This partnership demonstrates the effectiveness of our retrofit model and how WhiteFiber can meet the exacting standards of leading AI providers with hyperscaler requirements on an accelerated timeline," said Billy Krasskopoulos, President of WhiteFiber. "We take a customer-first approach to every engagement, ensuring our partners can deploy at scale with speed and confidence. Having secured our anchor tenant for NC-1 positions us to unlock additional development sites in our pipeline."

Key Terms of the Agreement

About WhiteFiber, Inc.

WhiteFiber is a provider of artificial intelligence ("AI") infrastructure solutions. WhiteFiber owns high-performance computing data centers and provides cloud services to customers. Our vertically integrated model combines specialized colocation, hosting, and cloud services engineered to maximize performance, efficiency, and margin for generative AI workloads. For more information, visit www.whitefiber.com. Follow us on LinkedIn and X @WhiteFiber.

‍About Nscale

Nscale is a European headquartered global hyperscaler engineered for sovereign-grade AI infrastructure, delivering compute to the generative AI market at scale. Through its fully vertically integrated suite of AI solutions and GW+ greenfield data centres across Europe and North America, Nscale enables customers to run efficient and scalable AI training, fine-tuning, and inferencing workloads.