Soluna Holdings (SLNH) Stock News, Apr-Jun 2025

Soluna Holdings (NASDAQ: SLNH) has expanded its hosting partnership with Blockware at Project Dorothy 2 data center in Texas. Following an initial 5 MW deployment in April, Blockware is adding 3 MW of hosting capacity, bringing their total contracted footprint to 8 MW. The expansion represents an estimated 450-550 PH/s of hashrate powered by renewable energy. The partnership growth comes just two months after the initial deployment, highlighting Blockware's confidence in Soluna's vertically integrated, renewable-powered infrastructure. Soluna provides full-stack infrastructure services, including power management, data center operations, and on-site support. The expansion strengthens both companies' commitment to sustainable blockchain infrastructure in the United States.

Soluna Holdings has secured a $20 million financing commitment from Spring Lane Capital (SLC) for Project Kati 1, a 35MW green data center project focused on Bitcoin mining and AI applications. The facility, part of a larger 83MW phase, will accommodate approximately 12,000 next-generation Bitcoin mining rigs. Construction is set to begin in Q3 2025, with operations expected to start by Q1 2026. SLC has also agreed to provide up to $100M in additional project-level capital for Soluna's growing pipeline, plus $4M in Development Expenditure financing. Project Kati 1 has received necessary ERCOT planning approvals and continues Soluna's strategy of converting curtailed renewable energy into clean computing solutions. The project features an enhanced waterfall structure that provides substantial current income during construction and operational phases.

Soluna Holdings (NASDAQ: SLNH), a green data center developer for Bitcoin mining and AI, reported significant progress across multiple projects in May 2025. The company achieved Q1 2025 revenue of $5.9M and expanded its development pipeline to 773 MW. Project Dorothy 2 reached substantial completion of Phase 1 with ongoing customer deployments, while Project Sophie hit a record 1.05 EH/s. Notable developments include the signing of a term sheet for Project Annie, a 75 MW solar-powered data center, and successful deployment of S21+ miners for a new partnership with Blockware. The company's Project Dorothy 2 has secured 48 MW in subscriptions, with both new and existing customers finalizing negotiations for June-September 2025 deployments.

Soluna Holdings (NASDAQ: SLNH) has signed a term sheet for Project Annie, a new 75 MW data center co-located with a 114 MW solar farm in northeast Texas. This marks Soluna's first solar-powered deployment, expanding its modular computing platform into solar-rich markets. The project aims to convert underutilized solar energy into high-performance computing capabilities, including Bitcoin mining and AI applications. Project Annie adds to Soluna's impressive development pipeline, which now exceeds 773 MW across wind, grid, and solar-powered computing projects. The company's portfolio includes multiple operational facilities like Dorothy 1A and 1B (25 MW each) and Sophie (25 MW), with several other projects in various development stages. Named after NASA pioneer Annie Easley, the project represents a strategic expansion into sustainable computing infrastructure.

Soluna Holdings (NASDAQ: SLNH) reported Q1 2025 financial results, with revenue of $5.9 million, down from Q1 2024, primarily due to BTC halving, commercial model changes, and operational challenges. The company expanded its project pipeline to 698MW of data center capacity with two new projects (Hedy and Ellen) totaling 220MW. Key financial metrics show a decline, with gross profit at $1.2 million (down $5.7M YoY) and Adjusted EBITDA loss of $1.6 million. Notable developments include Project Dorothy 2 construction progress, expected to increase Bitcoin hosting capacity to 123MW by Q4 2025, and securing a $5M non-dilutive debt facility with Galaxy Digital. The company strengthened its financial position by simplifying its capital structure through convertible note conversion and loan repayments. Despite short-term revenue decline, management expects growth as additional Bitcoin hosting capacity comes online.

Soluna Holdings (NASDAQ: SLNH) has released its April 2025 operational update for its green data centers. The company has made significant progress with three new major projects in development: a 120MW wind-powered data center (Project Hedy) in Texas, a 166MW facility (Project Kati), and a 100MW wind-powered center (Project Ellen) for AI & Bitcoin workloads. At existing facilities, Project Dorothy 1A/1B faced weather-related challenges, while Project Dorothy 2's construction continues with Phase 1 nearing completion. Project Sophie achieved a milestone 1 EH/s peak hashrate and is preparing for a 3.3MW fleet upgrade. The company has also expanded its partnership with Blockware, deploying ~350 S21+ miners at Dorothy 2, with plans to scale to ~5 MWs.

Soluna Holdings (NASDAQ: SLNH) has signed a two-year hosting agreement with Blockware for Bitcoin mining operations at Project Dorothy 2 in Texas. The deal involves deploying approximately 1,500 S21+ mining units, targeting an initial deployment of 5 megawatts (MW).

The deployment began on April 21, 2025, with full operations expected by June 1, 2025. Blockware plans to deploy 250-350 PH/s at the site. Soluna will provide comprehensive infrastructure support, including power management, internet connectivity, and security.

The partnership leverages Soluna's renewable-powered data centers for Bitcoin mining, strengthening their pipeline of stable customers while advancing Blockware's mission to increase hashrate in the United States.

Soluna Holdings (NASDAQ: SLNH) has announced the signing of a term sheet for Project Ellen, a new 100MW data center that will be co-located with a 145MW wind farm in South Texas. The project, to be developed in two 50MW phases, will leverage wind energy for sustainable computing, including Bitcoin mining and AI applications.

Project Ellen represents a partnership with a leading renewable energy provider and aligns with Soluna's mission to optimize grid stability while scaling renewable-powered computing. Upon completion, this expansion will bring Soluna's total data center capacity to over 698MW in operation, construction, or development across multiple projects.

The company's portfolio includes nine projects, primarily wind-powered facilities in Texas, with varying capacities and purposes ranging from Bitcoin hosting and mining to AI and HPC applications. Currently, Dorothy 1A, Dorothy 1B, and Sophie are operational, while other projects like Dorothy 2, Grace, Kati, Rosa, Hedy, and Ellen are in various stages of development.

Soluna Holdings (NASDAQ: SLNH) has secured definitive agreements for two land parcels to develop Project Kati, a 166 MW data center in Texas focused on Bitcoin mining and AI computing. The project, partnering with EDF Renewables and Masdar, will be implemented in two phases, starting with 83 MW.

The shovel-ready project is expected to commence construction in 2025, with Phase 1 potentially increasing Soluna's operating capacity to over 206 MW. The company is now pursuing three key initiatives: opening bids for Bitcoin Hosting data center investors, exploring AI/HPC joint venture opportunities, and completing Tier-3 site evaluation for high-performance computing capabilities.

The land transactions' closing remains subject to final agreements with Willacy County and Lyford School District regarding tax abatements, data center transaction structuring, and final due diligence.