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Soluna (NASDAQ: SLNH) Holdings has acquired afloat ownership of different information of its flagship Texas campus, continuing a broader effort to alteration a bitcoin mining analyzable into an AI and high-performance computing tract backed by owned renewable energy.
This nonfiction archetypal appeared successful The Energy Mag. The archetypal nonfiction tin beryllium viewed here. The Energy Mag (formerly The Miner Mag) provides news, data, and insights connected the energy–compute–markets nexus.
The institution said Tuesday it purchased the remaining 49% equity involvement successful Project Dorothy 1B from Navitas Global for astir $8.8 million, giving Soluna implicit ownership of the 25-megawatt installation successful Silverton, Texas.
The woody marks the latest measurement successful Soluna’s consolidation of the Dorothy field aft its $53 cardinal acquisition of the Briscoe Wind Farm and the earlier $16.5 cardinal buyout of Project Dorothy 1A.
With the Briscoe upwind workplace supplying 150 megawatts of owned renewable powerfulness and Soluna present controlling 100% of some Dorothy 1A and 1B, the institution has assembled what it described arsenic a afloat integrated “generation-to-compute” ownership concatenation crossed the 50-megawatt Dorothy 1 complex.
Chief Executive John Belizaire said the latest acquisition gives Soluna greater flexibility implicit however and erstwhile the field transitions toward AI infrastructure.
“Completing the acquisition of Dorothy 1 is an important measurement successful our broader roadmap toward gathering Dorothy 3 for AI and high-performance computing,” Belizaire said successful a statement.
The Dorothy field presently operates astir 100 megawatts crossed 3 phases. Dorothy 1A is simply a 25-megawatt bitcoin mining hosting facility, portion Dorothy 1B operates 25 megawatts dedicated to proprietary mining. Dorothy 2 contributes different 48 megawatts chiefly for hosting operations, wherever Spring Lane Capital remains an investor.
Earlier this month, Belizaire told TheEnergyMag that Soluna intends to relocate existing mining customers from Dorothy 1A to different facilities wrong its portfolio arsenic portion of a longer-term program to person the field for AI and HPC workloads.
The institution has said it is “bifurcating” its operations by separating bitcoin mining and AI infrastructure into antithetic sites, with aboriginal bitcoin operations focused much connected hosting alternatively than expanding proprietary hashrate.
Soluna said afloat ownership of Dorothy 1 is indispensable earlier selling Dorothy 3, the adjacent signifier of the campus, to imaginable AI tenants. The institution is besides actively evaluating opportunities related to Dorothy 2 arsenic portion of its broader field strategy.
The transaction was funded wholly with equilibrium expanse currency and closed connected May 19.
The determination comes arsenic a increasing fig of bitcoin miners question to repurpose existing powerfulness infrastructure for AI and high-performance computing amid continued unit connected mining profitability. Industry hashprice has remained adjacent historically compressed levels successful caller months, pushing operators to prosecute much stable, long-duration gross streams tied to AI workloads.
Soluna’s broader improvement pipeline present exceeds 4.3 gigawatts, including much than 1 gigawatt crossed projects successful development, operation and operation.
This nonfiction archetypal appeared successful The Energy Mag. The archetypal nonfiction tin beryllium viewed here. The Energy Mag (formerly The Miner Mag) provides news, data, and insights connected the energy–compute–markets nexus.
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