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Soluna completes $20 million financing to expand its green data center in Texas.
Soluna Holdings recently announced the successful completion of a new round of financing totaling $20 million. As a company focused on developing environmentally friendly data centers for high computing power applications such as Bitcoin mining and artificial intelligence, Soluna Holdings is listed on NASDAQ. This financing was supported by Spring Lane Capital.
The company plans to use this new funding to expand its Kati green data center project in Texas. This move will not only increase the scale of its existing Bitcoin hosting business but also further strengthen the company's position in the field of sustainable computing.
According to the timeline released by the company, the Kati project is expected to start construction in the third quarter of 2025. If everything goes as planned, the project is expected to complete initial power-on in the first quarter of 2026 and officially commence operations.
This financing and expansion plan reflects the market's ongoing demand for high-performance, environmentally friendly data centers, particularly in areas such as cryptocurrency mining and artificial intelligence applications. Soluna Holdings' initiative also highlights the company's long-term commitment to green technology and sustainable development.