Soluna Secures $20million for New Development in Texas

Crypto and AI data center firm Soluna this week the company announced financing from Spring Lane Capital for a 35MW phase of Project Kati, a behind-the-meter data center project in Texas. The financing will facilitate the construction of the first 35MW of the 83MW phase of Kati 1, which will be used for cryptomining. Construction is set to start in Q3 2025, with Phase I energized by 2026.

John Belizaire, CEO of Soluna Holdings, said: “Spring Lane Capital has been a trusted and strategic partner throughout our growth. We’re proud to continue that momentum with Project Kati — a partnership on a facility that marks an exciting new phase for Soluna, with multiple projects moving forward in parallel. This investment accelerates our ability to deploy scalable, clean, compute where the energy grid needs it most.”

“Soluna continues to be at the forefront of converting otherwise curtailed or wasted renewable energy into clean computing solutions, particularly for crypto mining and AI applications, at a time when we need it most,” added Rob Day, co-founder and partner, Spring Lane Capital. “We are proud to be an early and ongoing supporter of Soluna as they take another step toward sustainable high-performance computing and meeting green data center demand.”