ADDED
These forward-looking statements generally are identified by the words believes, project, expects, anticipates, estimates, intends, strategy, plan, may, will, could , should , might , Target , potential , goal , objective , seek , would, will be, will continue, will likely result, and similar expressions, among others.
The principal risks that could materially and adversely affect us include, among others, the following, grouped by category for ease of reference: General Risks: History of operating losses; joint ventures and other business transactions; and loss of management and key employees.
Digital asset market and network dynamics risks, including treasury holdings: Volatility in ETH and BTC prices; the future development and growth of digital assets; Ethereum-specific market, technology and regulatory developments; and the risks of our digital asset treasury model.
Operational and custody risks: Risks of ETH staking and related activities; the risks of ETH scaling; smart contract, bridge, oracles and protocol vulnerabilities; market structure and liquidity risks; restaking risks; concentration and governance risks; custodians, staking providers, and validators; failures to securely store and manage currencies; potential theft, loss or destruction of private keys; disruptions in our supply chain; potential losses of personnel; and BTC halving events.
and foreign laws and policies applicable to digital assets, custody, staking, market structure, sanctions/AML, securities and commodities regulation, and tax treatment (including our classification as a PFIC); possible conflicting or extraterritorial regulations potential investigations and litigation.
Power and infrastructure risks: Dependence on access to reliable, low-cost electricity and hosting; utility rate structures, curtailments, grid constraints, weather events; environmental and energy policy developments affecting proof-of-work mining.
Financing, liquidity capital markets and market access risks: Dilution associated with equity offerings; exchange listing requirements and compliance; constrained access to banking or capital markets for digital asset-related; debt, liens and collateral arrangements.
Accounting, financial reporting and internal control risks: Evolving accounting for digital assets and fair value measurements; potential impairment charges; auditor transitions; internal control considerations.
Strategic, counterparty and competition risks: Our strategic exposure to ETH; we operate in a highly competitive industry; dependence on a limited number of counterparties.
Technology, equipment and supply chain risks: Rapid technological change and equipment obsolescence; dependence on immersion cooling systems and other specialized infrastructure.
REMOVED
These forward-looking statements generally are identified by the words believes, project, expects, anticipates, estimates, intends, strategy, plan, may, will, would, will be, will continue, will likely result, and similar expressions.
or the Company , is a global platform for high performance computing ( HPC ) infrastructure and digital asset production, with headquarters in New York City.
The Company s HPC business operates under the WhiteFiber Inc.
HPC Business We are a leading provider of high-performance computing ( HPC ) data centers and cloud-based HPC graphics processing units ( GPU ) services, which we term cloud services, for customers such as artificial intelligence ( AI ) and machine learning ( ML ) developers.
Our HPC Tier-3 data centers provide hosting and colocation services and are developed and operated by our wholly-owned subsidiary, Enovum.
Our cloud services are provided by our WhiteFiber AI, Inc subsidiary.
Collectively, we refer to these offerings as our HPC Business.
On October 11, 2024, we significantly expanded our HPC data center operations and capabilities by acquiring Enovum Data Centers ( Enovum ), a Tier-3 HPC data center platform based in Montreal, Canada.
Through Enovum, we lease and operate a 4MW AI data center located in Montreal, Canada ( MTL 1 ).
MTL 1 is a fully operational Tier-3 data center that is designed for HPC workloads.