WhiteFiber is an AI infrastructure company that operates two businesses: HPC data centers and GPU cloud services. On the data center side, WhiteFiber designs, builds, and operates Tier-3 HPC facilities purpose-built for AI and ML workloads, featuring high-density racks, liquid cooling, and high-bandwidth connectivity. Customers sign multi-year leases for power and rack capacity, with electricity and operating costs passed through to tenants. Current facilities include MTL-1 (4 MW, Montreal) and MTL-3 (7 MW, Saint-Jerome, Quebec), with NC-1 (up to 99+ MW, Madison, North Carolina) as the key near-term growth asset, anchored by a 10-year, ~$865M colocation contract with Nscale. On the GPU cloud side, WhiteFiber leases NVIDIA GPU servers (H100, H200, B200, GB200) to AI and ML developers on a per-GPU, subscription, or consumption basis, housing its fleet at both third-party data centers and its own facilities. The vertical integration of GPU hosting within WhiteFiber's own data centers is intended to capture margin at both levels of the stack. WhiteFiber focuses on retrofitting existing industrial buildings rather than greenfield development, targeting a build cost of ~$8-10M per MW versus an industry average it estimates at ~$13M per MW. WhiteFiber was spun out of crypto miner Bit Digital and completed its IPO in August 2025, with Bit Digital retaining ~71.5% ownership.