Soluna (NASDAQ: SLNH) Holdings has acquired full possession of one other portion of its flagship Texas campus, persevering with a broader effort to rework a bitcoin mining complicated into an AI and high-performance computing website backed by owned renewable power.
This text first appeared in The Vitality Magazine. The unique article will be considered right here. The Vitality Magazine (previously The Miner Magazine) gives information, information, and insights on the power–compute–markets nexus.
The corporate stated Tuesday it bought the remaining 49% fairness curiosity in Challenge Dorothy 1B from Navitas International for about $8.8 million, giving Soluna full possession of the 25-megawatt facility in Silverton, Texas.
The deal marks the most recent step in Soluna’s consolidation of the Dorothy campus after its $53 million acquisition of the Briscoe Wind Farm and the sooner $16.5 million buyout of Challenge Dorothy 1A.
With the Briscoe wind farm supplying 150 megawatts of owned renewable energy and Soluna now controlling 100% of each Dorothy 1A and 1B, the corporate has assembled what it described as a totally built-in “generation-to-compute” possession chain throughout the 50-megawatt Dorothy 1 complicated.
Chief Government John Belizaire stated the most recent acquisition provides Soluna larger flexibility over how and when the campus transitions towards AI infrastructure.
“Finishing the acquisition of Dorothy 1 is a crucial step in our broader roadmap towards constructing Dorothy 3 for AI and high-performance computing,” Belizaire stated in an announcement.
The Dorothy campus at present operates roughly 100 megawatts throughout three phases. Dorothy 1A is a 25-megawatt bitcoin mining internet hosting facility, whereas Dorothy 1B operates 25 megawatts devoted to proprietary mining. Dorothy 2 contributes one other 48 megawatts primarily for internet hosting operations, the place Spring Lane Capital stays an investor.
Earlier this month, Belizaire informed TheEnergyMag that Soluna intends to relocate current mining prospects from Dorothy 1A to different amenities inside its portfolio as a part of a longer-term plan to transform the campus for AI and HPC workloads.
The corporate has stated it’s “bifurcating” its operations by separating bitcoin mining and AI infrastructure into totally different websites, with future bitcoin operations centered extra on internet hosting fairly than increasing proprietary hashrate.
Soluna stated full possession of Dorothy 1 is important earlier than advertising Dorothy 3, the subsequent part of the campus, to potential AI tenants. The corporate can be actively evaluating alternatives associated to Dorothy 2 as a part of its broader campus technique.
The transaction was funded completely with stability sheet money and closed on Might 19.
The transfer comes as a rising variety of bitcoin miners search to repurpose current energy infrastructure for AI and high-performance computing amid continued strain on mining profitability. Business hashprice has remained close to traditionally compressed ranges in current months, pushing operators to pursue extra secure, long-duration income streams tied to AI workloads.
Soluna’s broader improvement pipeline now exceeds 4.3 gigawatts, together with greater than 1 gigawatt throughout initiatives in improvement, development and operation.
This text first appeared in The Vitality Magazine. The unique article will be considered right here. The Vitality Magazine (previously The Miner Magazine) gives information, information, and insights on the power–compute–markets nexus.
