Headline: B. Riley: WhiteFiber’s NC-1 Colocation Win Validates Execution — Analysts See ~127% Upside WhiteFiber’s (WYFI) first long-term colocation agreement at its flagship NC-1 campus with Nscale Global is a strong signal that management can deliver on its original deployment timeline, according to a Tuesday note from B. Riley. The investment bank says the deal reinforces the merits of WhiteFiber’s retrofit development model — a key consideration for crypto firms and miners that rely on dense, reliable hosting capacity. “We believe WYFI’s reaffirmation of its original deployment timeline demonstrates its execution capability and the benefit of the company’s retrofit model,” wrote analysts Nick Giles and Fedor Shabalin. B. Riley kept a Buy rating on WYFI but trimmed its price target to $40 from $44, reflecting more conservative assumptions for Cloud Services revenue. At that $40 target, the stock would trade roughly 127% above last night’s close of $17.62. The share price has plunged more than 50% from a record high reached two months ago. The analysts also highlighted financing progress: WhiteFiber is in advanced talks with lenders on a construction facility expected to close in early 2026. The facility could include an accordion feature and credit enhancements that would help reduce the company’s cost of capital — an important factor for capital-intensive data center builds that serve crypto infrastructure and cloud customers alike. On valuation, B. Riley estimates WhiteFiber will trade at about 11x EV/EBITDA on 2026 estimates and roughly 8x EV/EBITDA on a 4Q26 adjusted EBITDA run-rate. Those multiples represent a meaningful discount to public peers, which typically trade in the mid- to high-teens — a gap B. Riley suggests could narrow if execution and financing milestones continue to be met. Why it matters for crypto: long-term colocation capacity from modern, retrofit-friendly campuses like NC-1 attracts institutional crypto infrastructure — from custody and node operators to miners seeking scalable, energy-efficient hosting. If WhiteFiber’s timeline and financing come together, it could become an increasingly relevant supplier for that market while offering upside for equity investors. Read more AI-generated news on: undefined/news