Soluna (SLNH) and Bit Digital (BTBT) Partnership Expands, Surpassing 12 MW in Hosting Capacity

Rhea-AI Summary

Soluna Holdings (NASDAQ: SLNH) has expanded its partnership with Bit Digital (NASDAQ: BTBT) through a new 12-month 5.5 MW hosting contract at Project Dorothy in Texas. This expansion marks a significant growth in their collaboration, which began with a 4.4 MW deployment at Project Sophie in November 2023, increased to 6.6 MW by October 2024, and now exceeds 12 MW in total hosting capacity.

The latest expansion introduces next-generation S21 mining units and includes upgrades to the site's electrical infrastructure. This partnership enhancement aims to improve Bit Digital's efficiency, scale, and mining performance while maintaining Soluna's commitment to providing sustainable energy solutions for intensive computing applications including Bitcoin mining and AI.

Positive

• New 12-month 5.5 MW hosting contract secured with Bit Digital
• Partnership expansion from initial 4.4 MW to over 12 MW total capacity
• Implementation of next-generation S21 mining units
• Infrastructure upgrades completed at Project Dorothy

Negative

• None.

Insights

Data Center Infrastructure Analyst

The expansion of Soluna's hosting partnership with Bit Digital represents a strategic evolution in the cryptocurrency mining infrastructure sector. The systematic capacity growth from 4.4 MW to over 12 MW demonstrates calculated scaling, with each expansion phase carefully timed to optimize operational efficiency.

The deployment of S21 miners at Project Dorothy is particularly significant. These next-generation units typically deliver up to 200 TH/s of hashrate while maintaining superior energy efficiency ratios compared to previous generations. This technological upgrade, combined with the enhanced electrical infrastructure, positions both companies to achieve better mining economics through reduced operational costs per bitcoin mined.

The Texas location for Project Dorothy is strategically advantageous. The state's deregulated energy market and growing renewable energy infrastructure align with Soluna's green data center focus, potentially enabling lower operational costs through variable electricity pricing and renewable energy credits. The 12-month contract duration provides revenue predictability for Soluna while giving Bit Digital operational stability during a critical period of fleet modernization.

This partnership expansion reflects a broader industry trend toward specialized hosting providers optimizing both energy efficiency and mining performance. For Soluna, securing high-quality clients like Bit Digital validates their infrastructure investment strategy and could attract similar partnerships. For Bit Digital, the access to efficient, sustainable mining infrastructure supports their fleet modernization efforts while potentially reducing their operational carbon footprint.

New 5.5 MW Deal Brings Next-Gen Mining to Project Dorothy

ALBANY, N.Y.--(BUSINESS WIRE)-- Soluna Holdings, Inc. (“SHI”, “Soluna”, or the “Company”), (NASDAQ: SLNH), a developer of green data centers for intensive computing applications including Bitcoin mining and AI, announced a twelve month 5.5 MW hosting contract with Bit Digital (NASDAQ: BTBT) at Soluna’s Project Dorothy in Texas, marking the latest expansion in their growing partnership.

Soluna and Bit Digital’s partnership has expanded steadily, starting with a 4.4 MW deployment at Project Sophie in November 2023, growing to 6.6 MW by October 2024, and extending to Project Dorothy with a 5.5 MW contract in December 2024. Now, the partnership has reached a new milestone with over 12 MW under management, enhancing Bit Digital’s efficiency, scale, and mining performance. This latest expansion introduces the first batch of next-generation S21 units, deployed alongside recent upgrades to the site’s electrical infrastructure.

John Belizaire, CEO of Soluna Holdings, commented, “Our partnership with Bit Digital continues to grow, and we’re thrilled to support their expansion from Project Sophie to Project Dorothy. At Soluna, we pride ourselves on Relentless Stewardship—delivering exceptional service, efficiency, and sustainability to our customers. We look forward to continued success in powering Bit Digital’s mining operations.”

Sam Tabar, CEO of Bit Digital, added, “Expanding our relationship with Soluna represents a strategic step in continuing to optimize our mining operations with a more efficient fleet and cost-efficient sustainable energy solutions. We look forward to continuing our work with Soluna as what we see as a key partner in our mission to scale responsibly and enhance operational efficiency.”

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include all statements, other than statements of historical fact, regarding our current views and assumptions with respect to future events regarding our business and other statements that are predictive in nature. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Readers are cautioned that any forward-looking information provided by us or on our behalf is not a guarantee of future performance. Actual results may differ materially from those contained in these forward-looking statements as a result of various factors disclosed in our filings with the SEC, including the “Risk Factors” section of our Annual Report on Form 10-K filed with the SEC on April 1, 2024. All forward-looking statements speak only as of the date on which they are made, and we undertake no duty to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except to the extent required by law.

About Bit Digital
Bit Digital, Inc. is a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York City. The Company’s HPC business operates under the WhiteFiber Inc. (“WhiteFiber”) brand. Our operations are located in the US, Canada, and Iceland. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

About Soluna Holdings, Inc (SLNH)
Soluna is on a mission to make renewable energy a global superpower using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna’s pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna’s proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions, and superior returns. To learn more visit solunacomputing.com. Follow us on X (formerly Twitter) at @SolunaHoldings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250220757576/en/

Sam Sova

Partner and CEO

SOVA

Sam@letsgosova.com

Source: Soluna Holdings, Inc.

FAQ

What is the total MW capacity of Soluna's (SLNH) partnership with Bit Digital as of December 2024?

The partnership has reached over 12 MW in total hosting capacity, following the latest 5.5 MW expansion at Project Dorothy.

When did Soluna (SLNH) and Bit Digital first start their hosting partnership?

The partnership began in November 2023 with a 4.4 MW deployment at Project Sophie.

What new technology is being implemented in SLNH's Project Dorothy expansion?

The expansion includes the deployment of next-generation S21 mining units alongside electrical infrastructure upgrades.

How long is the new hosting contract between Soluna (SLNH) and Bit Digital at Project Dorothy?

The new hosting contract at Project Dorothy is for a 12-month term.

What is the capacity growth timeline for SLNH's partnership with Bit Digital?

The partnership grew from 4.4 MW in November 2023 to 6.6 MW by October 2024, and further expanded to over 12 MW with the December 2024 Project Dorothy contract.