Contractual ChallengesWhiteFiber is facing a headwind as it winds down a ~$21M annualized customer contract, creating temporary underutilization.
Counterparty CreditworthinessThe lease is with a less creditworthy counterparty than some peer leases, and is of shorter duration.
Earnings ImpactStock-based compensation estimates for 2025 have been increased due to one-time stock awards, leading to a lower EPS estimate.