**WhiteFiber, Inc. Reports Fiscal Year 2025 Results, Revenue Climbs to $79.2 Million**
WhiteFiber, Inc., a provider of AI infrastructure solutions, announced its financial results for the fiscal year ended December 31, 2025. The company reported total revenue of $79.2 million, a significant increase from the $47.6 million reported in the previous fiscal year. This growth was primarily driven by a surge in cloud services revenue, which reached $68.8 million, up from $45.7 million in 2024, attributed to increased GPU server deployments. Colocation services also contributed, generating $8.9 million in revenue compared to $1.4 million in the prior year, reflecting a full year of operations following the acquisition of Enovum Data Centers Corp. in late 2024.
Despite the revenue growth, WhiteFiber reported a net loss of $24.7 million for 2025, a stark contrast to the net income of $1.4 million in 2024. This shift was largely due to a substantial increase in operating expenses, which totaled $106.0 million compared to $47.0 million in the previous year. General and administrative expenses saw a significant rise, reaching $52.5 million, driven by higher share-based compensation, increased salaries, and professional consulting fees associated with operating as an independent public company. Depreciation and amortization expenses also increased to $23.4 million, reflecting the deployment of additional assets.
Operationally, WhiteFiber continued to expand its data center footprint and cloud service offerings. The company completed the MTL-3 facility in Montreal, which commenced billing Cerebras at a rate of CAD 1.4 million per month. WhiteFiber also made progress on the NC-1 facility in North Carolina, with initial phases expected to come online in 2026. In November 2025, the company entered into a significant service agreement with Nscale Services US Inc. for colocation services at NC-1, representing approximately $865 million in total contracted revenue over a 10-year term. The company also expanded its cloud services, securing contracts with multiple customers and deploying advanced GPU architectures.
Looking ahead, WhiteFiber aims to complete the build-out of its current data center projects and maximize revenue from these facilities. The company also plans to strategically scale its data center expansion pipeline, focusing on next-generation designs and infrastructure. To fund these growth initiatives, WhiteFiber completed a private offering of $230.0 million in convertible senior notes in January 2026 and entered into a secured term loan facility agreement for up to $20 million with Landsbankinn hf. for its Icelandic operations in March 2026. The company intends to leverage its technology strategy and strategic relationships to grow revenue from existing and new customers, while prudently sourcing and allocating growth capital.
About WhiteFiber, Inc.
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