Soluna Secures $100M for Green Data Center Expansion

Soluna Holdings has secured a $100 million credit facility from Generate Capital to expand its green data centers, announced in a press release. The initial draw of $12.6 million will be used for refinancing and construction of active projects, with further support for Soluna's 1 gigawatt pipeline.

Soluna specializes in building modular data centers that convert underutilized renewable energy into computing power for applications like Bitcoin mining and AI. This strategic partnership with Generate Capital, which has invested over $2.4 billion in sustainable infrastructure, aims to enhance Soluna's capacity to deliver cost-effective and sustainable computing solutions.

The financing includes a delayed draw facility of $22.9 million for ongoing projects and an uncommitted $64.5 million accordion facility to support Soluna's growing renewable-powered pipeline. This move is part of Soluna's broader strategy to expand its computing offerings beyond Bitcoin mining to include AI workloads, reflecting the increasing demand for green computing solutions.