Bitcoin mining data center Soluna Holdings has secured a $14 million investment for developing a project in Texas. Its shares rose 14% to $0.229 following the announcement.
Under a new agreement with Navitas Global, Soluna Holdings will receive the aforementioned investment to complete the development of Project Dorothy 1B in Texas. The agreement involves a $2 million loan to finish the 25-megawatt plant and a $12 million equity investment.
Soluna will provide operations and maintenance expertise, while maintaining a 51% stake in the project.“Navitas is a strong partner for Soluna now and long-term. The Navitas team not only understands the value of Bitcoin mining and having a reliable partner, but they also understand the long-term value of our infrastructure being interconnected to renewable energy power plants.
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