Solna (NASDAQ: SLNH) Holdings has acquired full possession of one other portion of its flagship Texas campus, persevering with its broader efforts to remodel the Bitcoin mining complicated into an AI and high-performance computing web site powered by proprietary renewable vitality.
This text first appeared on The Power Magazine. The unique article may be discovered right here. The Power Magazine (previously The Miner Magazine) supplies information, information and perception on the nexus of vitality, computing and markets.
The corporate introduced Tuesday that it has bought the remaining 49% fairness curiosity 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 is the newest step within the consolidation of the Dorothy Campus, following Solna's $53 million acquisition of the Brisco Wind Farm and its earlier $16.5 million acquisition of Undertaking Dorothy 1A.
With the Brisco wind farm offering 150 megawatts of owned renewable energy and Soluna now controlling 100% of each Dorothy 1A and 1B, the corporate has created what it describes as a completely built-in “era to compute” possession chain throughout the 50 megawatt Dorothy 1 complicated.
CEO John Belizea stated the acquisition provides Soluna larger flexibility in how and when to transition its campuses 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,” Berizaia stated in a press release.
The Dorothy Campus presently operates roughly 100 megawatts throughout three phases. Dorothy 1A is a 25 megawatt Bitcoin mining internet hosting facility, whereas Dorothy 1B operates at 25 megawatts devoted to its personal mining. Dorothy 2 is contributing an extra 48 megawatts, primarily to the internet hosting enterprise, with Spring Lane Capital remaining an investor.
Earlier this month, Belizaia informed TheEnergyMag that Soluna plans to maneuver current mining prospects from Dorothy 1A to different services in its portfolio as a part of a long-term plan to remodel the campus for AI and HPC workloads.
The corporate stated it’s “bifurcating” its enterprise by separating its Bitcoin mining and AI infrastructure into completely different websites, and that its future Bitcoin operations will deal with internet hosting moderately than increasing its personal hashrate.
Soluna stated full possession of Dorothy 1 is required earlier than the following section of the campus, Dorothy 3, may be offered 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 totally funded with money on the stability sheet and closed on Could nineteenth.
The transfer comes as extra Bitcoin miners look to repurpose current energy infrastructure for AI and high-performance computing as mining profitability continues to come back below stress. Trade hash costs have hovered close to traditionally compressed ranges in latest months, prompting carriers to pursue extra secure, long-term income streams associated to AI workloads.
Soluna's broader growth pipeline presently exceeds 4.3 GW, together with greater than 1 GW throughout growth, development and operations tasks.
This text first appeared on The Power Magazine. The unique article may be discovered right here. The Power Magazine (previously The Miner Magazine) supplies information, information and perception on the nexus of vitality, computing and markets.
