The North Carolina-based company has entered the operational phase at its NC-1 facility, which is now moving from construction to active customer deployment. CEO Sam Tabar stated that the site, which aims to scale toward 300 megawatts, has begun billing and is expected to hit its full contracted run-rate of 40 megawatts by the end of August. To support this growth, WhiteFiber is currently negotiating secured financing with a lender consortium to recycle capital into future projects.
WhiteFiber Reports Revenue Growth Amidst AI Infrastructure Expansion
WhiteFiber, a provider of AI infrastructure, reported $28.8 million in second-quarter revenue, marking a 54% increase over the previous year. While the company faces a net loss of $15 million, it is shifting its business model toward long-term, high-value contracts and the active deployment of its flagship NC-1 data center.
Beyond its physical infrastructure, the company has secured over half a billion dollars in new multi-year agreements since May. These contracts include deployments of NVIDIA B300 and Vera Rubin hardware for firms like Baseten and Prime Intellect. Despite the 69% year-over-year increase in adjusted EBITDA to $5.5 million, the company reported a net loss of $15 million, widened by depreciation and impairment costs. WhiteFiber continues to focus on its "flywheel" strategy, leveraging scarcity in power availability to secure long-term, credit-supported demand in the AI computing sector.
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