WhiteFiber's AI data-center buildout accelerates on blowout Q2 and new sites
Q2 results beat with 54% revenue growth WhiteFiber's second-quarter revenue rose 54% to $28.8 million, beating forecasts, with adjusted EBITDA up 69%. A $15 million net loss included a customer termination cost. Stronger sales and profit signal real demand for its AI data centers, supporting the stock.
The earnings beat is the period's core new fundamental driver of WYFI's value.
$60M purchase adds two North Carolina sites WhiteFiber will pay $60 million cash for two North Carolina industrial sites, planned as NC-2 and NC-3, with at least 60 MW initial and possibly 200 MW eventual capacity. More land and power mean more future AI capacity, though customer letters of intent are not yet binding contracts.
This is a concrete new expansion step that increases WYFI's future revenue capacity.
Over $540M in new multi-year cloud contracts WhiteFiber signed new cloud agreements worth more than $540 million, including GPU deals with Baseten and Prime Intellect, with a pipeline management says could produce over $200 million in annualized revenue. Locked-in long-term contracts make future cash flow more predictable and underpin growth.
New contracted backlog is the clearest evidence of demand driving WYFI's outlook.
Parent Bit Digital funds buildout with ETH-backed debt Bit Digital borrowed $50 million against Ethereum and originated a $150 million credit facility for WhiteFiber, avoiding share sales but adding leverage; it also posted a $107 million quarterly loss and a $46 million ETH write-down. Cheap non-dilutive funding helps, yet crypto losses and rising debt are a real risk.
Financing keeps WYFI's expansion going but carries balance-sheet and crypto-price risk.