WhiteFiber Inc. agrees to acquire North Carolina property for up to $60M as it pivots from crypto mining to AI data centers

WhiteFiber Inc., a Nasdaq-listed subsidiary of Bitcoin miner Bit Digital, is betting big on North Carolina real estate as part of its transformation from crypto mining outfit to AI infrastructure provider. The company acquired a 96-acre former textile manufacturing facility in Madison, NC, for $45 million in cash on May 20, with contingent payments that could push the total price tag to roughly $60 million. The extra payments depend on whether Duke Energy hits certain power delivery milestones. In other words, WhiteFiber is only paying full price if it actually gets the electricity it needs, a structuring choice that shifts some infrastructure risk back to the seller. From looms to GPUs The site, dubbed NC-1, sits approximately 100 miles from both Raleigh and Charlotte. WhiteFiber plans to retrofit the industrial property into a data center campus purpose-built for artificial intelligence and high-performance computing workloads. The initial phase targets 24 MW of operational capacity by late 2025 or early 2026. WhiteFiber has secured agreements for a total of 99 MW at the site, with the potential to scale all the way to 200 MW as infrastructure approvals come through. The facility...