Soluna (NASDAQ: SLNH) Holdings has acquired full possession of one other a part of its flagship Texas campus, persevering with a broader effort to rework a bitcoin mining complicated into a man-made intelligence and high-performance computing website backed by its personal renewable power.
This text first appeared in The Vitality Magazine. The unique article might be seen right here. The Vitality Magazine (previously The Miner Magazine) supplies information, information and insights on the energy-computing-markets nexus.
The corporate mentioned Tuesday that it bought the remaining 49% fairness in Undertaking Dorothy 1B from Navitas World for roughly $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 following its $53 million acquisition of the Briscoe Wind Farm and its earlier $16.5 million buy of the Dorothy 1A Undertaking.
With the Briscoe wind farm supplying 150 megawatts of its personal renewable power and Soluna now controlling 100% of Dorothy 1A and 1B, the corporate has put collectively what it described as a totally built-in “generation-to-compute” chain of possession throughout the 50-megawatt Dorothy 1 complicated.
CEO John Belizaire mentioned the most recent acquisition provides Soluna higher flexibility in how and when the campus transitions to 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 mentioned in an announcement.
The Dorothy campus at present operates roughly 100 megawatts in 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 lodging operations, the place Spring Lane Capital stays an investor.
Earlier this month, Belizaire instructed TheEnergyMag that Soluna intends to relocate Dorothy 1A’s current mining clients to different services inside its portfolio as a part of a longer-term plan to transform the campus for AI and HPC workloads.
The corporate has mentioned it’s “forking” its operations by separating bitcoin mining and AI infrastructure into totally different websites, and that future bitcoin operations will focus extra on internet hosting than increasing the proprietary hashrate.
Soluna mentioned full possession of Dorothy 1 is critical earlier than advertising and marketing Dorothy 3, the following section of the campus, to potential IA tenants. The corporate can also be actively evaluating alternatives associated to Dorothy 2 as a part of its broader campus technique.
The transaction was funded solely with money from the stability sheet and closed on Could 19.
The transfer comes as a rising variety of bitcoin miners look to repurpose current energy infrastructure for AI and high-performance computing amid continued stress on mining profitability. The trade hash value has remained close to traditionally compressed ranges in current months, pushing operators to hunt extra secure, long-lasting income streams tied to AI workloads.
Soluna’s broader growth portfolio now exceeds 4.3 gigawatts, together with greater than 1 gigawatt throughout tasks in growth, building and operation.
This text first appeared in The Vitality Magazine. The unique article might be seen right here. The Vitality Magazine (previously The Miner Magazine) supplies information, information and insights on the energy-computing-markets nexus.
