Slide 1: Investor Overview August 2025
Investor Overview August 2025
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: The AI Infrastructure Company
THE AI INFRASTRUCTURE COMPANY 3 Data Center and Cloud Solutions for AI Workloads
Slide 4: 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 5: 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 6: AI Market Challenges
AI MARKET CHALLENGES 6 (1) McKinsey & Company’s upper - range scenario. Source: McKinsey & Company – “AI power: Expanding data center capacity to meet growing demand” (2024). OUTDATED COMPUTE AND INFRASTRUCTURE Current data centers and CPUs inadequate for AI training and inference INEFFECTIVE SERVIC
Slide 7: WhiteFiber Market Opportunity
GLOBAL DATA CENTER DEMAND (1) GLOBAL CLOUD AI MARKET (3) ~70% of 2030 data center demand expected to be for generative AI (1) WHITEFIBER MARKET OPPORTUNITY 7 (1) McKinsey & Company’s midpoint range of outcomes. Source: McKinsey & Company – “AI power: Expanding data center capacity to meet growing de
Slide 8: WhiteFiber at a Glance
STRATEGIC RELATIONSHIPS WHITEFIBER AT A GLANCE 8 Source: Company information as of June 30, 2025; Note: All MW reflected on a gross basis. (1) Pipeline defined as data center sites for sale and under evaluation by management as of June 30, 2025. (2) Total NC - 1 power capacity of at least 99.0 gross
Slide 9: Investment Highlights
INVESTMENT HIGHLIGHTS 9 (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“ (2024). (3) Source: Co
Slide 10: Scaling into Customer Demand
SCALING INTO CUSTOMER DEMAND 10 Dec. 2024 MTL - 2 Ƒ 5.0 MW Colocation Agreement Jan. 2025 Jul. 2024 Established Partnership Apr. 2025 NC - 1 Ƒ 24 MW Ƒ 99.0 MW (1) MTL - 3 Ƒ 6.6 MW Jan. 2024 Launch Cloud Services Jun. 2025 Financing Source: Company information; Note: all MW reflected on a gross basis
Slide 11: Our Data Centers Meet the Stringent Demand of AI Customers
OUR DATA CENTERS 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 Advanced and Highly Rel
Slide 12: Data Center Site Selection
DATA CENTER SITE SELECTION DISCIPLINED SITE SELECTION LEADS TO SUPERIOR RETURN SOLUTIONS 12 > 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
Slide 13: Data Center Portfolio
DATA CENTER PORTFOLIO 13 (1) MTL - 1’s full capacity is occupied under lease agreements with an average duration of approximately 30 months as of May 30, 2025. (2) Phase 1 capacity represents 24 gross MW. (3) Source: Pitchbook, latest post - money valuation. (4) Subject to up to $8.0M earnout if Duk
Slide 14: NC-1 Site Overview and Transaction Summary
99 MW Total Target Expanded Gross Capacity (1) 24 MW Phase 1 Gross Capacity 100% (2) Phase 1 Gross Capacity Under LOI ~1,000,000 Leasable Square Feet 100% Ownership ~653M Purchase Price (Incl. Earnout) ~60.05 per kWh Energy Cost Duke Energy Power Provider TRANSACTION SUMMARY NC - 1 SITE OVERVIEW 14
Slide 15: Cloud Services
CLOUD SERVICES 15 > Compute available for lease > High performance > Scalability with growth > Secure solutions CUTTING - EDGE GPUs TECH - DRIVEN OPTIMIZATION ~90% of Deployed GPUs under Reserve Contract (1) 8 Customers CLOUD CUSTOMER REQUIREMENTS GO TO MARKET APPROACH > Sourcing customers from inbo
Slide 16: WhiteFiber Cloud Technology
MAXIMUM PERFORMANCE > Optimize each layer of stack by hardware generation > Superior solutions across software, hardware, and design HIGH - TRUST CLUSTERS > Customer - specific security envelope > Security parameters designed into implementation 16 (1) Technology solutions expected to be rolled out
Slide 17: Operate GPU Clusters Across Multiple Data Centers
CROSS - DATA CENTER WORKLOADS 17 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 •
Slide 18: Data Center Capacity Growth
DATA CENTER CAPACITY GROWTH 19 WhiteFiber Data Center Gross MW Online Cadence 4 MW +5 MW +7 MW +24 MW +16 MW +20 MW 4 MW 4 MW 16 MW 40 MW 76 MW 2Q25 3Q25 4Q25 1Q26 Souíce: Company infoímation. (1) Pipeline defined as data centeí sites foí sale and undeí evaluation by management and could include amo
Slide 19: WhiteFiber Unit Economics
WHITEFIBER UNIT ECONOMICS COMPLEMENTARY SEGMENTS WITH ATTRACTIVE STANDALONE ECONOMICS 18 ~68M Equipment Capital Expenditure (1) ~75% EBITDA Margin ~61M Land Capital Expenditure (1) ~61.6M Revenue per Gross MW ~642k B200 GPU Model Capital Expenditure 75 - 80% EBITDA Margin ~620k Year - 1 Revenue per
Slide 20: Financial Results
FINANCIAL RESULTS 20 Source: Company information. (1) Includes Equipment Leasing revenue $0.6M in FY2024 and $0.7M in LTM Q1 2025.. Data Center Revenue Cloud Services Revenue (1) Combined Revenue Enovum acquired in October 2024 and financials do not include results prior to this period
Slide 21: Appendix
APPENDIX ʙ
Slide 22: GAAP Historical Income Statement
1Q 2025 1Q 2024 FY 2024 ($ in thousands) 616,768 68,196 647,639 Revenue ($6,651) ($3,157) ($20,216) Operating costs and expenses Cost of revenue (exclusive of depreciation) (3,830) (2,882) (16,511) Depreciation and amortization expenses (4,244) (1,197) (10,284) General and administrative expenses (6
Slide 23: Adjusted EBITDA Reconciliation
1Q 2025 1Q 2024 FY 2024 ($ in thousands) 61,428 6827 61,370 Net income $3,830 $2,882 16,511 Depreciation and amortization expenses 595 190 874 Income tax (benefits)/expense 65,852 63,898 618,755 EBITDA $138 $91 $3,171 Share - based compensation expenses 65,990 63,990 621,926 Adjusted EBITDA ADJUSTED
Slide 24: WhiteFiber
WHITEFIBER _