Whitefiber, Inc. · NASDAQ:WYFI
Whitefiber — Investor Presentation (January 2026)
23 slides from Whitefiber's investor presentation, Jan 26, 2026
Slide 1: The AI Infrastructure Company
THE AI INFRASTRUCTURE COMPANY Data Center and Cloud Solutions for AI Workloads 1 Investor Presentation January 2026
Slide 2: Disclaimer
DISCLAIMER 2 This presentation by WhiteFiber, Inc. (“WhiteFiber,” the “Company,” “we,” “our,” and “us”) is provided for informational purposes only so that you can familiarize yourself with the Company. Although the Company believes the information contained herein is accurate in all material respec
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS 3 (1) McKinsey & Company’s upper - range scenario. Source: McKinsey & Company – “AI power: Expanding data center capacity to meet growing demand” (2024). (2) Source: Mordor Intelligence – “Cloud AI Market Size & Share Analysis - Growth Trends & Forecasts“ (2026). (3) Source: Co
Slide 4: Scaling Into Customer Demand
SCALING INTO CUSTOMER DEMAND 4 Dec. 2024 MTL - 2 Ŀ 5.0 MW (3) Colocation Agreement Jan. 2025 Jul. 2024 Established Partnership Apr. 2025 NC - 1 Ŀ 24 MW Ŀ 99.0 MW (1) MTL - 3 Ŀ 7 MW Jan. 2024 Launch Cloud Services Dec. 2025 Financing Source: Company information; Note: all MW reflected on a gross basi
Slide 5: Strategic Relationships
STRATEGIC RELATIONSHIPS 5 Source: Company information as of September 30, 2025; Note: All MW reflected on a gross basis. (1) Co - location capacity under rental agreement. (2) Development of MTL - 2 has been put on hold. (3) Pipeline defined as data center sites for sale and under evaluation by mana
Slide 6: Our Data Centers Are Designed to Meet the Stringent Demand of AI Customers
OUR DATA CENTERS ARE DESIGNED TO MEET THE STRINGENT DEMAND OF AI CUSTOMERS High Power Density and Robust Bandwidth Concurrent Maintainability 99.982% Uptime and No More than 1.6 Hours of Downtime Annually Infrastructures Supporting AI Workloads Differentiated Software Supporting AI Workloads Advance
Slide 7: Data Center Site Selection
DATA CENTER SITE SELECTION DISCIPLINED SITE SELECTION LEADS TO ENHANCED RETURN SOLUTIONS > Positioned for low - latency to address long - term, specialized AI computing inference needs PROXIMITY TO METROPOLITAN AREAS > Retrofit with cooling, security, redundancy, and network equipment to support AI
Slide 8: (1) MTL - 1’s full capacity is occupied under lease agreements with an average
8 (1) MTL - 1’s full capacity is occupied under lease agreements with an average duration of approximately 30 months as of September 30, 2025. (2) 100% contracted for Phase 1 & 2 capacity which represents 40 IT Load MW. (3) 20 MW expected in April 2026 and 20 MW expected in May 2026. MTL - 2 5 Gross
Slide 9: MTL-3: Cerebras Retrofit Case Study
MTL - 3: CEREBRAS RETROFIT CASE STUDY 5 MW IT Load < C$ 9M Buildout cost per MW 1.3 (1) PUE (1) Versus industry standard of 1.45. PROJECT HIGHLIGHTS 9 > Site delivered in 6 months, versus 18+ months for typical greenfield builds > Modular data center build approach and a specialized procurement ecos
Slide 10: NC-1: Nscale Anchor Contract
NC - 1: NSCALE ANCHOR CONTRACT Customer IT Load 40 MW Term 10 Years • Modified gross lease with expense pass - through • Retrofit development enables faster speed to market and lower cost • Initial deployment expected to be operational by mid - 2026 • Nscale receives priority notification rights for
Slide 11: NC-1 Site Overview
54 MW Phase 1 & 2 Gross Capacity 99 MW Total Target Expanded Gross Capacity (1) ~1,000,000 Leasable Square Feet 100% (2) Phase 1 & 2 Gross Capacity Contracted ~$53M Purchase Price (Incl. Earnout) 100% Ownership Duke Energy Power Provider ~$0.05 per kWh Energy Cost TRANSACTION SUMMARY NC - 1 SITE OVE
Slide 12: Data Center Capacity Growth
DATA CENTER CAPACITY GROWTH 12 Source: Company information. (1) Pipeline defined as data center sites for sale and under evaluation by management and could include amounts potentially derivable from NC - 1 depending on power delivery cadence. WhiteFiber Data Center Gross MW Online Cadence +7 MW +54
Slide 13: Cloud Solutions
CLOUD SOLUTIONS > Access to Power and GPUs > AI Infrastructure Expertise > Security and Compliance > Optimization and Management CUTTING - EDGE GPUs TECH - DRIVEN OPTIMIZATION CUSTOMER PAIN POINTS GO TO MARKET STRATEGY > SMB - MM: Long - term reserved cloud instances > Upper MM - Enterprise: Managed
Slide 14: WhiteFiber Cloud Technology
MAXIMUM PERFORMANCE > Optimize each layer of stack by hardware generation > Tailored cluster design based on customer requirements and goals HIGH - TRUST CLUSTERS > Customer - specific security envelope > Security parameters designed into implementation (1) Technology solutions expected to be rolled
Slide 15: Cross-Data Center Workloads
CROSS - DATA CENTER WORKLOADS OPTIMIZE PERFORMANCE • Low - latency offering for inference needs • Provide compute closer to end - user • 80 - kilometer range OVERCOME SCALE LIMITATIONS • Seamlessly expand across sites • Avoid single data center power and space constraints BUILT - IN REDUNDANCY • Geo
Slide 16: Financial Results
FINANCIAL RESULTS 16 Source: Company information. (1) Includes Equipment Leasing revenue of $0.6M in FY2024 and $1.6M in LTM Q3 2025. Data Center Revenue Cloud Services Revenue (1) Combined Revenue Enovum acquired in October 2024 and financials do not include results prior to this period $1.4 M $6.4
Slide 17: Why Invest Now?
WHY INVEST NOW? Robust HPC Data Center Portfolio and Pipeline Differentiated and Efficient Approach Significant and Growing Opportunity for Our Solutions High ROI Solutions, with Attractive Unit Economics Deeply Experienced Team Clean Capital Structure to Support Growth 17
Slide 18: Appendix
APPENDIX ʙ
Slide 19: WhiteFiber Team
WHITEFIBER TEAM Sam Tabar Chief Executive Officer > Bit Digital – Chief Executive Officer > Bank of America – Head of Capital Strategy > Skadden, Arps – Lawyer, Mergers and Acquisitions Eric Huang Chief Financial Officer > Bit Digital – Chief Financial Officer > Long Soar Technology Limited – Co - F
Slide 20: Select WhiteFiber Board Members
SELECT WHITEFIBER BOARD MEMBERS David Andre Independent Director > Google – Chief Science Officer at X, The Moonshot Factory > Cerebellum Capital – CEO, CTO Co - Founder > BodyMedia – Director of Research Pruitt Hall Independent Director > Kirkland – Director, Mission Critical Services > Falk Integr
Slide 21: GAAP Historical Income Statement
3Q 2025 3Q 2024 FY 2024 ($ in thousands) $20,180 $12,281 $47,639 Revenue Operating costs and expenses ($6,989) ($5,460) ($20,216) Cost of revenue (exclusive of depreciation) (6,371) (4,325) (16,511) Depreciation and amortization expenses (21,323) (3,344) (10,284) General and administrative expenses
Slide 22: Adjusted EBITDA Reconciliation
3Q 2025 3Q 2024 FY 2024 ($ in thousands) ($15,754) ($365) $1,370 Net income ($6,371) ($4,325) $16,511 Depreciation and amortization expenses (67) (384) 874 Income tax (benefits)/expense ($9,316) $4,344 $18,755 EBITDA $338 $ - $ - Net loss from disposal of PP&E $11,255 $1,297 $3,171 Share - based com
Slide 23: WhiteFiber
WHITEFIBER _