- White Fiber completed its IPO in August, with the offering pricing at **$17 per share** and total gross proceeds reaching approximately **$183 million** after the Greenshoe overallotment option was exercised. Bit Digital, Inc. now retains **71.5%** ownership.  **[2042022_2146408_1]** 
- For the second quarter of 2025, total revenue was **$18.7 million**, a **48%** increase from the prior year, with cloud services generating **$16.6 million** (up **33%**). The company reported a net loss of **$8.8 million** but a positive adjusted EBITDA of **$3.3 million**.  **[2042022_2146408_4]** 
- Progress continues on key data center projects, including NC1 in North Carolina, where the initial **24 megawatt Phase One** is expected online in **Q1 2026**, with customer interest extending to the full **99-megawatt** capacity. Revenue recognition for the Montreal 3 project with Cerebras is anticipated to begin in **October**.  **[2042022_2146408_1]** **[2042022_2146408_2]** **[2042022_2146408_10]** 
- The cloud services business has a run rate revenue of approximately **$88 million**, and the company holds roughly **700 GPUs** not yet under contract, which represent an estimated **$15 million** in annual revenue potential at market pricing.  **[2042022_2146408_3]**

White Fiber Reports Q2 2025 Results, Details IPO, and Provides Data Center Development Updates

- WhiteFiber, Inc. filed an 8-K on **August 28, 2025**, making available an investor presentation as of **August 2025**, which highlights its business as an **AI infrastructure company** providing data center and cloud solutions.  **[2042022_0001213900-25-081421_ea0254844-8k_white.htm:0]** **[2042022_0001213900-25-081421_ea025484401ex99-1_white.htm:0]** **[2042022_0001213900-25-081421_ea025484401ex99-1_white.htm:4]** 
- The company employs a **retrofit strategy** for data centers, with buildout costs of **$7M - $9M per gross MW**, which is up to **40% lower** than greenfield solutions.  **[2042022_0001213900-25-081421_ea025484401ex99-1_white.htm:5]**  
- WhiteFiber expects to have **115 gross MW** of capacity within four years across four facilities (MTL-1, MTL-2, MTL-3, NC-1), with a broader pipeline of **~1.3 gross GW**.  **[2042022_0001213900-25-081421_ea025484401ex99-1_white.htm:5]** **[2042022_0001213900-25-081421_ea025484401ex99-1_white.htm:6]**  The NC-1 site alone has a total target expanded gross capacity of **99 MW**.   
- For the first quarter of 2025, WhiteFiber reported **revenue of $647,639 thousand** and **net income of $61,428 thousand**.

WhiteFiber (WYFI)