WYFI

Company Overview — What Does WhiteFiber, Inc. Do?

We believe we are a leading provider of artificial intelligence (“AI”) infrastructure solutions. We own high-performance computing (“HPC”) data centers and provide cloud-based HPC graphics processing units (“GPU”) services, which we term cloud services, for customers such as AI application and machine learning (“ML”) developers (the “HPC Business”). Our Tier-3 data centers provide hosting and colocation services. Our cloud services support generative AI workstreams, especially training and inference. In connection with this offering, we are being carved out of Bit Digital, Inc. and will operate as a separate public company upon the completion of this offering. Starting in October 2024, we significantly expanded our data center operations and capabilities by acquiring Enovum, a Tier-3 HPC data center platform based in Montreal, Canada. We currently operate a 4 MW (gross) AI data center located in Montreal, Canada (“MTL-1”). MTL-1 is a fully operational Tier-3 data center that is designed for HPC workloads. MTL-1’s full capacity is occupied by 14 customers under lease agreements with an average duration of approximately 30 months as of May 30, 2025. On December 27, 2024, we acquired the real estate and building for a build-to-suit 5 MW (gross) Tier-3 data center expansion project in Montreal (“MTL-2”). On April 11, 2025 we announced that we had secured the rights to a new data center site in Saint-Jérôme, Québec, a suburb of Montreal (“MTL-3”), which will be a 7 MW (gross) Tier-3 data center. Subject to our receipt of all required permits, MTL-3 will support a previously announced 5 MW (IT load) colocation agreement with Cerebras Wafer Scale ULC Systems (“Cerebras”), a leader in generative AI infrastructure. On May 20, 2025, we purchased a former industrial/manufacturing building together with the underlying land outside of Greensboro, North Carolina (the “Property”), which we intend to retrofit to create an HPC data center (“NC-1”). Pursuant to a Capacity Agreement between Enovum and Duke Energy, Duke Energy agreed to use commercially reasonable efforts to achieve 24 MW (gross) of service to the Property by September 1, 2025, 40 MW (gross) by April 1, 2026 and 99 MW (gross) within four years of May 16, 2025. Management believes based upon its review of the site and a Duke Energy preliminary transmission study, that the Property may receive and support up to 200 MW (gross) of total electrical supply over an extended period of time, subject to infrastructure upgrades, such as developing new substations and other conditions. MTL-2, MTL-3 and NC-1 were identified and sourced through our confidential pipeline of development or acquisition opportunities under letters of intent or evaluation, which continues to grow and expand geographically throughout North America. The MTL-2 data center is expected to be completed and operational in the fourth quarter of 2025 with a one-month delay before it begins to generate revenue. MTL-3 is expected to be completed and operational in the fourth quarter of 2025 with a one-month delay before it begins to generate revenue. We estimate that the initial capacity of 24 MW (gross) for the NC-1 site will be completed and operational in the first quarter of 2026. Management expects the NC-1 site will start to generate revenue in May 2026. The MTL-2, MTL-3 and NC-1 facilities are in various stages of being retrofitted into data centers. The foregoing timelines and capacities are subject to change based on many factors required in order to commence operations, many of which are outside of our control. The construction phases associated with the completion of the applicable facility are done in parallel in a process defined as commissioning. This work consists of the buildout of interior systems and mechanical, electrical and regulatory construction. Once all building systems perform interactively according to “design intent,” the commissioning is complete and the facility can be turned on. Based on their collective industry experience, our WhiteFiber data center team is adept at bringing new sites online on an accelerated timeline. We are aggressively pursuing our development pipeline and expect to add 12 MW (gross) of capacity, inclusive of the MTL-2 and MTL-3 sites, for total capacity of approximately 16 MW (gross), by the end of 2025. Management expects another 24 MW (gross) will be energized in the first quarter of 2026 and that an incremental 16 MW (gross) will be energized in the second quarter of 2026 for a total of 40 MW (gross) at the NC-1 site by the end of the second quarter of 2026. We intend to achieve an estimated 76 MW (gross) of total HPC data center capacity by the end of the fourth quarter of 2026, a target that is underpinned by assets including our MTL-2, MTL-3, and NC-1 facilities plus 20 MW (gross) of power that we expect to deliver from our confidential pipeline or through accelerating the number of energized MWs at NC-1 as compared to the timeline provided in the Capacity Agreement. As of June 30, 2025, our pipeline of potential data center projects represents approximately 1,300 MW (gross) under management review, including approximately 800 MW (gross) under non-binding and exclusive letters of intent, which may complement and accelerate future expansion. We follow a disciplined process prioritizing projects that are backed by customer lease commitments. In select cases, we may pursue early-stage acquisitions based on strong customer demand signals and defined commercialization pathways. Our ability to achieve our targeted MW capacity is conditioned upon our ability to obtain additional equity and/or debt financing, in addition to this offering. In addition to providing highly desirable data center hosting capacity to our customers, our business model integrates WhiteFiber data center infrastructure and WhiteFiber cloud services to provide scalable, high-performance computing solutions for enterprises, research institutions, and AI and ML driven businesses. Our integrated approach aligns specialized data center operations with GPU-focused cloud services, addressing the unique requirements of AI and ML workloads. These workloads demand greater power density, advanced cooling solutions, and robust bandwidth to handle large-scale data transfers. By operating our data centers, we are able to provide the power to support our cloud services and we believe we can better meet the needs of AI and ML workloads and reduce the complexity associated with procuring power and connectivity from external vendors. We can also design our facilities to accommodate the higher heat loads generated by modern GPUs, potentially shortening deployment timelines for customers who require rapid expansion of their computing infrastructure. From a financial standpoint, our vertically integrated solution allows us to capture additional margin for both our data center and cloud services businesses, avoiding expenses that would otherwise be due to third-party providers. Our WhiteFiber cloud services business provides cutting-edge, bespoke services involving a sophisticated array of computers and chips, including NVIDIA GPUs, servers, network equipment, and data storage solutions. We believe we provide our cloud services customers with the highest levels of performance and reliability while offering flexibility to scale with customer needs. We have developed a software layer to be integrated into our cloud services solutions that will assist our customers in the deployment of AI applications with superior performance. We currently offer our cloud services at a data center maintained by a third-party colocation provider in Iceland (the “Iceland Data Center”) and are negotiating with third-party providers to seamlessly integrate our cloud services at data centers across key regions in Europe, North America and Asia. In the fourth quarter of 2023, we secured our first cloud customer through a three-year Master Service Agreement dated November 9, 2023 to provide services using our advanced AI equipment. For the three months ended March 31, 2025 and 2024, our WhiteFiber cloud service business recognized revenue of $14.8 million and $8.1 million, respectively. Such revenue for the 12 months ended December 31, 2024 and 2023 was $45.7 million and $0, respectively. As of June 30, 2025, WhiteFiber had approximately 4,500 NVIDIA GPUs deployed, with approximately 4,000 GPUs under contract. Our executive office is located in New York, New York. WhiteFiber, Inc. (WYFI) is classified as a small-cap stock in the Financials sector, specifically within the Banking industry. The company is led by CEO Sam Tabar and employs approximately 39 people, headquartered in NEW YORK, New York. With a market capitalization of $446M, WYFI is one of the notable companies in the Financials sector.

WhiteFiber, Inc. (WYFI) Stock Rating — Avoid (April 2026)

As of April 2026, WhiteFiber, Inc. receives a Avoid rating with a composite score of 30.2/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.WYFI ranks #3,932 out of 4,446 stocks in our coverage universe. Within the Financials sector, WhiteFiber, Inc. ranks #843 of 891 stocks, placing it in the lower half of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

WYFI Stock Price and 52-Week Range

WhiteFiber, Inc. (WYFI) currently trades at $14.83. The stock gained $1.25 (9.2%) in the most recent trading session. The 52-week high for WYFI is $40.75, which means the stock is currently trading -63.6% from its annual peak. The 52-week low is $13.91, putting the stock 6.6% above its annual trough. Recent trading volume was 1.3M shares, reflecting moderate market activity.

Is WYFI Overvalued or Undervalued? — Valuation Analysis

WhiteFiber, Inc. (WYFI) carries a value factor score of 29/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 1.02x, versus the sector average of 1.22x. The price-to-sales ratio is 1.55x, compared to 0.90x for the average Financials stock.

At current multiples, WhiteFiber, Inc. trades at a premium to most Financials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

WhiteFiber, Inc. Profitability — ROE, Margins, and Quality Score

WhiteFiber, Inc. (WYFI) earns a quality factor score of 49/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -20.5%, compared to the Financials sector average of 8.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -15.2% versus the sector average of 1.2%.

On a margin basis, WhiteFiber, Inc. reports gross margins of 60.2%. The operating margin is -33.9% (sector: 21.8%). Net profit margin stands at -31.2%, versus 17.7% for the average Financials stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

WYFI Debt, Balance Sheet, and Financial Health

WhiteFiber, Inc. has a debt-to-equity ratio of 35.0%, compared to the Financials sector average of 121.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 2.03x, indicating strong short-term liquidity.

WYFI has a beta of 4.40, meaning it is more volatile than the broader market — a $10,000 investment in WYFI would be expected to move 340.2% more than the S&P 500 on any given day. The stability factor score for WhiteFiber, Inc. is 13/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

WhiteFiber, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, WhiteFiber, Inc. reported revenue of $79M and earnings per share (EPS) of $-0.78. Net income for the quarter was $-25M. Gross margin was 60.2%. Operating income came in at $-27M.

In FY 2025, WhiteFiber, Inc. reported revenue of $79M and earnings per share (EPS) of $-0.78. Net income for the quarter was $-25M. Gross margin was 60.2%. Operating income came in at $-27M.

In Q3 2025, WhiteFiber, Inc. reported revenue of $20M and earnings per share (EPS) of $-0.47. Net income for the quarter was $-16M. Gross margin was 63.1%. Operating income came in at $-15M.

WYFI Dividend Yield and Income Analysis

WhiteFiber, Inc. (WYFI) does not currently pay a dividend. This is common among smaller companies in the Banking industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Financials dividend stocks may want to explore other Financials stocks or use the stock screener to filter by dividend yield.

WYFI Momentum and Technical Analysis Profile

WhiteFiber, Inc. (WYFI) has a momentum factor score of 20/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 23/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.

WYFI vs Competitors — Financials Sector Ranking and Peer Comparison

Within the Financials sector, WhiteFiber, Inc. (WYFI) ranks #843 out of 891 stocks based on the Blank Capital composite score. This places WYFI in the lower half of all Financials stocks in our coverage universe. Key competitors and sector peers include WHITE MOUNTAINS INSURANCE GROUP LTD (WTM) with a score of 62.9/100, OPPENHEIMER HOLDINGS INC (OPY) with a score of 62.6/100, Enact Holdings, Inc. (ACT) with a score of 61.6/100, International General Insurance Holdings Ltd. (IGIC) with a score of 61.3/100, and PARKE BANCORP, INC. (PKBK) with a score of 60.4/100.

Comparing WYFI against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full WYFI vs S&P 500 (SPY) comparison to assess how WhiteFiber, Inc. stacks up against the broader market across all factor dimensions.

WYFI Next Earnings Date

No upcoming earnings date has been announced for WhiteFiber, Inc. (WYFI) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy WYFI? — Investment Thesis Summary

The quantitative profile for WhiteFiber, Inc. suggests caution. The value score of 29/100 indicates premium valuation. Momentum is weak at 20/100, a headwind for near-term performance. High volatility (stability score 13/100) increases portfolio risk.

In summary, WhiteFiber, Inc. (WYFI) earns a Avoid rating with a composite score of 30.2/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on WYFI stock.

Related Resources for WYFI Investors

Explore more research and tools: WYFI vs S&P 500 comparison, top Financials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare WYFI head-to-head with peers: WYFI vs WTM, WYFI vs OPY, WYFI vs ACT.