WhiteFiber to Buy North Carolina Property for $60M for Data Centers

What happened

WhiteFiber, Inc., a financial services company, announced on August 16, 2026, that its wholly owned subsidiary, Enovum Data Centers Corp., entered into a Real Estate Purchase and Sale Agreement to buy certain industrial/manufacturing buildings and land in Yadkin County, North Carolina, from Unifi Manufacturing, Inc. (UMI), a subsidiary of Unifi, Inc.

The cash purchase price is $60.0 million. The closing is scheduled to occur 45 days after the inspection period expires on September 15, 2026, unless extended by the buyer. An earnest money deposit of $2.25 million will be placed in escrow, with $1.0 million potentially becoming non-refundable if the buyer extends the inspection period.

The agreement includes conditions such as confirming available energy capacity (a minimum of 30 megawatts per property, with potential for more), obtaining governmental approvals for separating the property from UMI's remaining land, and agreeing on post-closing occupancy and partial lease-back terms.

On August 17, 2026, WhiteFiber issued a press release about the agreement. The stock fell 25.49% to close at $20.17, with volume about four times its average, on the announcement date.

The filing

WhiteFiber filed a Form 8-K with the Securities and Exchange Commission on August 17, 2026, to report the material agreement and to furnish the press release under Regulation FD.

Item 1.01 requires public companies to disclose any material definitive agreement not made in the ordinary course of business. Item 7.01 is used to furnish information to investors, and the press release attached as Exhibit 99.1.

The 8-K also includes forward-looking statements warning that the closing may not occur on the anticipated timeline or at all, due to conditions like the energy study and third-party approvals.

What this means

A Form 8-K is a 'current report' that companies must file within four business days of a significant event. Here, it tells investors about a major acquisition agreement.

This is a real estate purchase agreement, not a merger. WhiteFiber, through its subsidiary Enovum Data Centers, is buying property to develop data centers. The energy capacity is crucial: data centers need substantial electricity to run servers and cooling. The property is expected to have a combined minimum of 60 megawatts, with potential for up to 198 megawatts, subject to confirmation.

The filing does not explain why the stock dropped. The share price decline could be due to the large cash outlay, the conditions and risks around the deal, or other factors—but the sources do not specify. Investors should read the press release for more details, but the article only reports what is known from the filing.

Normally, a deal like this moves forward if conditions are met. The closing, if all goes as planned, would occur about 45 days after the inspection period ends, which would be around late October 2026. But the agreement has several contingencies that could delay or prevent closing, and the company explicitly says there is no guarantee it will happen.