Soluna Holdings Inc., a developer of green data centers for applications such as Bitcoin mining and AI, has announced a significant expansion with the launch of Project Kati 1. This project will be supported by a $20 million financing arrangement from Spring Lane Capital. The funds will facilitate the construction of an initial 35-megawatt phase of Kati 1, which is part of Soluna's expanding Texas fleet for Bitcoin hosting. Construction is set to begin in Q3 2025, with initial energization expected by Q1 2026. The facility is designed to house approximately 12,000 next-generation Bitcoin mining rigs. This expansion is part of a broader plan, with Spring Lane Capital committing up to $100 million for Soluna's growing data center pipeline. The project already has the necessary ERCOT planning approvals, marking a significant step forward in Soluna's efforts to convert curtailed renewable energy into clean computing solutions.
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