Mergers & Acquisitions ·
Soluna agrees to form joint venture with Applied Digital to develop 50 MW AI data center in Texas
SLNHPSoluna Holdings, Inc
Soluna Holdings has entered into a definitive agreement to form a jointly owned company with Applied Digital Corporation to develop a planned 50 MW critical IT data center for AI and high-performance computing at Project Dorothy 3 near Silverton, Texas. Soluna will contribute land and power-related assets while Applied provides capital; upon closing, Applied is expected to hold a 51% interest and Soluna the remaining 49%. The transaction is subject to conditions including tax abatement approval and definitive lease execution with ChronoScale, which has signed a non-binding letter of intent. Closing is expected by year-end. Soluna designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources.