NC-1 Phase 1 LOI with AI cloud provider
Company: WhiteFiber - Project: NC-1
The claim, verbatim
NC-1 Phase 1 (24 gross MW, 20 MW IT load) is under LOI with a private AI cloud computing company valued at $3B+, with an expected 7-year term and approximately $230M of revenue over 7 years, subject to definitive agreements.
Source (primary)
whitefiber 8-K exhibit (ea025484401ex99-1_white.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-05)Live source ↗
Quote: “Expecting approximately $230M of revenue for Phase 1 over 7 years”
How we checked this
Checked on October 7, 2026. The cited source supports every part of this claim.
The portfolio slide and NC-1 site overview, including their footnotes, state each of these elements.
Confirmed in the source:
- NC-1 Phase 1 capacity is 24 gross MW
- NC-1 Phase 1 IT load is 20 MW
- NC-1 Phase 1 is under LOI with a private company providing cloud computing for AI companies
- That private company is valued at $3B+ (per Pitchbook)
- The expected average term is 7 years
- Approximately $230M of revenue is expected for Phase 1 over 7 years
- The revenue is subject to execution of definitive agreements
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/2042022/000121390025081421/ea025484401ex99-1_white.htm) in full (24,103 characters, retrieved October 5, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms whitefiber 8-K exhibit (ea025484401ex99-1_white.htm)
Quote: “Expecting approximately $230M of revenue for Phase 1 over 7 years”