WhiteFiber Inc., a Nasdaq-listed subsidiary of Bitcoin miner Bit Digital, has acquired a 96-acre former textile manufacturing site in Madison, North Carolina, for $45 million in cash, with contingent payments that could lift the total to about $60 million if Duke Energy meets power delivery milestones. The company plans to convert the property, known as NC-1, into an artificial intelligence and high-performance computing data center campus, targeting 24 MW of operating capacity by late 2025 or early 2026. WhiteFiber said it has agreements for 99 MW at the site and sees room to expand to 200 MW as infrastructure approvals advance. The project underscores a broader shift by some crypto miners toward AI infrastructure, where companies reuse industrial assets and existing utility access to speed deployment. WhiteFiber has also signed a 10-year colocation agreement (leasing powered data center space) with AI cloud computing company Nscale for 40 MW, a contract valued at about $865 million. The key risk remains electricity delivery, with the acquisition’s earn-out tied to Duke Energy’s timeline and additional tenants needed to fill the campus beyond Nscale’s contracted capacity.