Soluna Secures $30M From Spring Lane Capital To Fuel Project Dorothy 2; New Construction To Begin In Q2 2024, Expands Bitcoin Mining Capacity
Portfolio Pulse from Benzinga Newsdesk
Soluna Holdings, Inc. (NASDAQ: SLNH) has secured $30 million in financing from Spring Lane Capital to expand its Project Dorothy data center. The new construction, set to begin in Q2 2024, will increase Soluna's Bitcoin mining capacity by 48 MW.
May 21, 2024 | 12:13 pm
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Soluna Holdings has secured $30 million in financing from Spring Lane Capital to expand its Project Dorothy data center, increasing its Bitcoin mining capacity by 48 MW. Construction is set to begin in Q2 2024.
The $30 million financing will enable Soluna to significantly expand its Bitcoin mining capacity, which is likely to positively impact its revenue and stock price in the short term. The involvement of Spring Lane Capital, a reputable private equity firm, adds credibility to the project.
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