On June 3, 2026, Soluna Holdings, Inc. formed a joint venture, Soluna MB KK II JVCo, LLC, with DC Kati Venture LLC (managed by Metrobloks LLC) to develop the Kati 2 data center project in Willacy County, Texas. The project consists of a 100 MW Phase I and a 250 MW Phase II. Soluna contributed the Phase I property, a purchase agreement for Phase II, and approximately $3.5 million in operating expenses. Soluna committed an additional $19.0 million for the Phase II acquisition and up to $2.0 million for operating expenses. Soluna will receive a 14% IRR and $100,000 per Gross PPA MW before splitting additional distributions 50/50 with Metrobloks. The company operates in the data center infrastructure industry, focusing on high-performance computing and sustainable energy solutions.
