SOLUNA HOLDINGS INC Stock Price, News & Analysis

Soluna Holdings (NASDAQ: SLNH) has secured a $5 million loan facility from Galaxy Digital (TSX: GLXY), marking a significant non-dilutive debt financing achievement. The loan features a five-year amortizing term and is secured at the project level with recourse to the parent company.

The financing demonstrates investor confidence in Soluna's business model of monetizing energy through AI and Bitcoin mining operations. Key features of the loan include the ability to prepay at any time and security to project-level assets. This strategic funding will support Soluna's continued project development and expansion in green data centers for intensive computing applications.

Soluna Holdings (NASDAQ: SLNH) has released its February 2025 operational update for its green data centers focused on Bitcoin mining and AI computing. The company reported significant progress across multiple projects:

Key developments include: Project Kati's exit from ERCOT planning phase, potentially unlocking 166 MW of Bitcoin hosting and AI opportunities; expanded partnership with Bit Digital exceeding 12 MW in hosting capacity; and securing up to 187 MW of sustainable energy through the Project Rosa land purchase agreement.

Operational updates highlight:

• Project Dorothy 1A/1B (50 MW total) showing minimal curtailments with final 2 MW S21 deployment in progress
• Project Dorothy 2 (48 MW) received ERCOT approval for 50 MW energization
• Project Grace achieved 1.13 PUE efficiency rating
• Project Sophie (25 MW) returned to 100% capacity after substation repair
• Atlas Cloud launched Deepseek offering powered by 128 NVIDIA H100 GPUs

Soluna Holdings (NASDAQ: SLNH) has announced that its subsidiary, Soluna Cloud, is partnering with Atlas Cloud to bring DeepSeek R1's AI capabilities to North America. The service, which went live on February 28, 2025, is powered by 128 NVIDIA H100 SXM Infiniband GPUs.

The partnership, established through a deal signed in January, utilizes Soluna Cloud's data centers to provide superior speed and affordability compared to DeepSeek's native deployment. This North American deployment specifically addresses enterprises seeking alternatives to China-hosted AI solutions, focusing on data sovereignty and performance optimization.

The collaboration aims to deliver reduced latency within secure, strategically located North American sites, offering enterprises a compliant alternative to China-hosted models.

EDF Renewables North America and Masdar have signed a significant power purchase agreement (PPA) with Soluna Holdings (NASDAQ: SLNH) for their Las Majadas Wind Project. Under the agreement, Soluna will purchase up to 166 megawatts (MW) of energy to power their new data center, Project Kati, which will be built near the wind project's substation in Willacy County, Texas.

The innovative PPA structure addresses transmission constraints and curtailment challenges by utilizing behind-the-meter power. Project Kati will adjust operations during peak grid demand periods. The Las Majadas Wind facility, with a total capacity of 273 MW, has been operational since 2021.

This partnership aims to support the growing electricity demands of data centers, particularly driven by AI applications, while advancing renewable energy adoption. The agreement provides an alternative solution to capture under-utilized electricity while powering energy-intensive computing operations with clean energy.

Soluna Holdings (NASDAQ: SLNH) has secured a land purchase agreement for 60 acres to develop Project Rosa, a new data center that will harness up to 187 MW of renewable energy for AI and Bitcoin mining operations.

The project will be strategically co-located with a 240 MW wind farm in Texas, allowing direct access to sustainable energy. Project Rosa will be developed in two phases and aligns with Soluna's mission to utilize excess renewable energy while creating sustainable, scalable, low-cost data centers for next-generation computing workloads.

"Securing these land agreements is a critical achievement for Soluna," said John Belizaire, CEO. "Project Rosa not only enhances our operational capacity but also reinforces our commitment to delivering sustainable, cutting-edge solutions in high performance computing."

The project is named after Rosalind Franklin, a chemist whose work was central to understanding the molecular structures of DNA, RNA, and viruses, continuing Soluna's tradition of naming data centers after women who have made significant contributions to science and technology.

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.

Soluna Holdings (NASDAQ: SLNH) has successfully completed the ERCOT planning phase for Project Kati, a significant milestone in developing a green data center for Bitcoin mining and AI applications. The project will deliver up to 166 MW of renewable energy capacity in two phases.

The company is finalizing land negotiations to accommodate both phases and future AI opportunities. Project Kati's next steps include capital formation activities, exploring AI joint venture opportunities, and conducting HPC site analysis. Construction is planned to begin in 2025, with the first phase delivering 83 MW. Upon completion of this phase, Soluna would manage over 206 MW for Bitcoin Mining and Hosting.

The project, named after scientist Katalin 'Kati' Karikó, aims to expand renewable computing infrastructure for innovative computing applications while providing 'white glove' service through their Relentless Stewardship approach.

Soluna Holdings (NASDAQ: SLNH) has released its January 2025 operations update, highlighting progress across multiple projects. Project Dorothy 1A and 1B underwent a planned one-week outage for substation interconnection and network upgrades, now operating at full capacity. Project Dorothy 2 (48 MW) completed its substation interconnection, with initial energization expected in late February and Phase 1 commissioning in early April.

Project Sophie (25 MW) is operating at 65% capacity due to utility substation equipment failure, with repairs expected in March. Project Ada launched a new 128-GPU Atlas Cloud cluster on February 4th, with two new GPU contracts in final negotiations. The AI pipeline now exceeds 1,500 Nvidia H100 GPUs. Project Kati (166 MW) is finalizing design scope for its first 83 MW of Bitcoin Hosting, with supplier negotiations ongoing.

Soluna Holdings (NASDAQ: SLNH) has released its December 2024 business update, highlighting significant achievements and project developments. The company reached a milestone of 100 GWh in curtailed energy monetization at Project Dorothy, equivalent to powering approximately 11,500 H100s annually.

Key developments include new AI partnerships with San Francisco Compute Company and Atlas Cloud, involving the deployment of Nvidia H100 GPUs. The company completed the final conversion and payoff of outstanding convertible notes and launched a partnership with Gynger for flexible AI financing.

Project updates include progress on Dorothy 1A and 1B (25MW each), with new customer deployments and resolved transformer issues. Dorothy 2 (48MW) continues construction with Phase 1 (16MW) advancement. The AI pipeline now exceeds 864 H100 GPUs, with Project Ada securing new commitments and Project Sophie operating at full capacity.