Latest news with #BitcoinMining
National Post
22-07-2025
- Business
- National Post
Soluna Closes $20M Funding from Spring Lane Capital to Begin Construction on Project Kati 1
Article content This investment follows previous funding from SLC at Soluna's flagship project site Article content ALBANY, N.Y. — Soluna Holdings, Inc. ('Soluna' or the 'Company'), (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, today announced it has closed its latest round of financing from Spring Lane Capital ('SLC') for a 35 megawatt (MW) expansion of Project Kati in Texas with Project Kati 1. Article content With these funds, Soluna will commence Project Kati 1 construction in Q3 2025, with the goal of achieving initial energization and ramp-up by Q1 2026. Article content 'Spring Lane Capital has walked alongside Soluna on our path to growth since the beginning with an investment in Project Dorothy,' said John Belizaire, CEO of Soluna. 'We expect these funds to fuel the construction of the first 35MW of the 83MW phase of Kati 1, which expands Soluna's Texas fleet for Bitcoin Hosting.' Article content Key details Article content Financial Structure and Equity Ownership: Soluna expects that the $20 million will fully cover the project's funding needs, including working capital. Kati 1 continues the superior waterfall structure and enhanced management and development fees, allowing Soluna to benefit from substantial current income during the construction and operational phases. Construction Timeline: The parties intend to commence Project Kati 1 construction in Q3 2025, with the goal of achieving initial energization and ramp-up by Q1 2026. Capacity and Technology: The new facility is designed to accommodate approximately 12,000 next-generation Bitcoin mining rigs. SLC's Expanded Financial Support: SLC and Soluna previously signed an agreement to extend up to $100M of additional project-level capital for Soluna's growing data center pipeline for Bitcoin and AI, subject to certain conditions precedent. Fund 2 Investment: SLC deployed its capital from its second private equity fund, Spring Lane Capital Fund II, which is twice the size of its initial fund. The fund is lined up to provide up to $4 million in Development Expenditure (DevEx) financing for Soluna's long-lead equipment purchases. Project Approvals: Kati 1 already has all the necessary ERCOT planning approvals. An ERCOT model update will be submitted at least 90 days before energization. Article content 'We continue to invest in and be strategic supporters of Soluna because they continue to take steps toward sustainable high-performance computing and meeting green data center demand,' said Rob Day at Spring Lane Capital. 'We're looking forward to construction getting underway at Project Kati so that Soluna can continue expanding its green computing power.' Article content Safe Harbor Statement Article content This announcement contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'confident' and similar statements. Other examples of forward-looking statements may include, but are not limited to, statements of Soluna's plans and objectives, including with respect to use of proceeds from the SLC financing, the development of Project Kati and our expectations with respect to the amount of renewable energy capacity Project Kati will deliver. Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ('SEC'), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the SEC. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law. Article content About Soluna Holdings, Inc. (Nasdaq: SLNH) Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna's pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna's proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit and follow us on: Article content About Spring Lane Capital Article content Article content Article content Article content Article content
Yahoo
17-07-2025
- Business
- Yahoo
Soluna Holdings, Inc. Announces Closing of $5 Million Public Offering
ALBANY, N.Y., July 17, 2025--(BUSINESS WIRE)--Soluna Holdings, Inc. ("Soluna" or the "Company") (NASDAQ: SLNH), a developer of green data centers for intensive computing applications including Bitcoin mining and Artificial Intelligence (AI), today announced the closing of its previously announced public offering of an aggregate of 9,090,909 shares of its common stock (or pre-funded warrants in lieu thereof), Series A warrants to purchase 9,090,909 shares of its common stock and Series B warrants to purchase 9,090,909 shares of its common stock, at a combined public offering price of $0.55 per share (or pre-funded warrant in lieu thereof) and accompanying warrants. Each of the Series A warrants and the Series B warrants have an exercise price of $0.55 per share and are exercisable immediately upon issuance. The Series A Warrants will expire on the five-year anniversary of the initial exercise date and the Series B Warrants will expire on the twenty-four-month anniversary of the initial exercise date. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses payable by the Company, were approximately $5 million. The Company intends to use the net proceeds from the offering for working capital, project-level equity, and general corporate purposes. "With this capital in place, we believe we're well-prepared to advance the next wave of projects and unlock new opportunities," said John Belizaire, CEO of Soluna Holdings. "We expect this raise to give us the flexibility to continue executing on our roadmap, driving forward key developments across our pipeline, from project financing to site construction. We remain focused on disciplined execution as we scale our vision of Renewable Computing and on delivering long-term value to our shareholders." The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333- 287519), which was declared effective by the Securities and Exchange Commission (the "SEC") on July 15, 2025. The offering was made only by means of a prospectus forming part of the effective registration statement relating to the offering. A final prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus may be obtained on the SEC's website at and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@ This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Soluna Holdings, Inc. (Nasdaq: SLNH) Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The Company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna's pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna's proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit and follow us on: LinkedIn: X (formerly Twitter): YouTube: Newsletter: Resource Center: Soluna regularly posts important information on its website and encourages investors and potential investors to consult the Soluna investor relations and investor resources sections of its website regularly. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include all statements, other than statements of historical fact, regarding our current views and assumptions with respect to future events regarding our business and our expectations with respect to the anticipated use of proceeds from the offering and other statements that are predictive in nature. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Readers are cautioned that any forward-looking information provided by us or on our behalf is not a guarantee of future performance. Actual results may differ materially from those contained in these forward-looking statements as a result of various factors disclosed in our filings with the SEC, including the "Risk Factors" section of our Annual Report on Form 10-K filed with the SEC on March 31, 2025, as well as other risks described in the section entitled "Risk Factors" in the Company's registration statement on Form S-1 (File No. 333-287519). All forward-looking statements speak only as of the date on which they are made, and we undertake no duty to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except to the extent required by law. View source version on Contacts Public RelationsWest of Fairfax for SolunaSoluna@
Yahoo
16-07-2025
- Business
- Yahoo
TeraWulf (WULF) Completes Full Acquisition of Beowulf E&D
TeraWulf Inc. (NASDAQ:WULF) is one of the 10 Best Small-Cap Stocks to Buy According to Billionaires. On May 27, TeraWulf Inc. (NASDAQ:WULF) announced the acquisition of all the membership interests of Beowulf Electricity & Data LLC and its affiliates. This deal helps TeraWulf Inc. (NASDAQ:WULF) make its company structure simpler by removing a related-party relationship and consolidating resources under a unified operating framework. The total consideration for the acquisition is about $52.4 million. This includes $3 million in cash and 5 million shares of TeraWulf Inc. (NASDAQ:WULF) common stock issued at closing. Following this deal, the company's earlier cost guidance for 2025 remains unchanged. Beowulf Electricity & Data LLC and its affiliates bring strong experience in building and operating power generation assets and electrical infrastructure. By integrating these capabilities into TeraWulf Inc. (NASDAQ:WULF), the company aims to support its long-term growth plans. This is especially important as power generation plays a crucial role in high-power compute operations. TeraWulf Inc. (NASDAQ:WULF) is an American company that develops, owns, and operates next-generation data center infrastructure that is specifically designed for Bitcoin mining and hosting high-power computing workloads. While we acknowledge the potential of WULF as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-07-2025
- Business
- Yahoo
BTBT Boosted by Additional Share Purchase
Bit Digital, Inc. (NASDAQ:BTBT) is among the . Earlier last week, Bit Digital, Inc. (NASDAQ:BTBT) announced that the underwriters of its previous public offering have proceeded to acquire an additional 11.25 million ordinary shares, worth around $21.4 million. The option was fully exercised, with a total of 86.25 million shares sold during the public offering. After accounting for underwriting discounts and estimated expenses, Bit Digital, Inc. (NASDAQ:BTBT) generated roughly $162.9 million in net proceeds. The timing of this capital raise is quite noteworthy, as the company plans to purchase Ethereum. A testament to the company's growth efforts is the stock's 66.98% rise in the past five days. A team of technicians working on a server of bitcoin mining equipment in a data center. The company is parting ways with Bitcoin and shifting its focus towards high-margin ETH staking and HPC services. The reason why BTBT is considered a 'get-rich stock' is that it is now closely tied to ETH price volatility, and with just one jump, Bit Digital, Inc. (NASDAQ:BTBT) will likely move past its rough days. Bit Digital, Inc. (NASDAQ:BTBT) is a New York-based bitcoin mining business that was incorporated in 2015. The company designs, develops, and manages high-performance computing (HPC) data centers offering not only hosting and colocation services but also cloud-based HPC graphics processing units for AI and machine learning developers. While we acknowledge the potential of BTBT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . While we acknowledge the potential of BTBT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BTBT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
15-07-2025
- Business
- Globe and Mail
Hut 8 Rebrands to Align External Positioning with Power-First, Platform-Driven Business Model
MIAMI, July 15, 2025 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) ('Hut 8' or the 'Company'), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today announced a corporate rebrand that aligns the Company's external positioning with its strategic focus on energy and digital infrastructure through an integrated platform model focused on disciplined capital allocation, operational rigor, and relentless performance optimization. 'Our new brand enables us to more clearly express what has always set Hut 8 apart: a power-first, innovation-driven approach to developing, commercializing, and operating next-generation digital infrastructure,' said Asher Genoot, CEO of Hut 8. 'Since our merger of equals, we have scaled with discipline across each layer of our platform, institutionalized the broader business, and executed with the rigor we believe is required to deliver outsized long-term value for our investors. Our new brand embeds our platform-driven strategy into our external positioning and sharpens how we articulate our business model, structural advantages, and approach to long-term value creation to the market.' The Company's rebrand follows over a year of disciplined strategic, operational, and capital markets execution under new leadership, which has solidified Hut 8's position as a power-first, innovation-driven developer of energy and digital infrastructure. Since the merger of Hut 8 Mining Corp. with U.S. Data Mining Group, Inc. ('US Bitcoin Corp') in November 2023, the Company has: Expanded its energy infrastructure platform to 1,020 megawatts ('MW') under management across 15 sites as of March 31, 2025, which includes scaled behind-the-meter operations at King Mountain (280 MW) and Vega (205 MW) Built a high-velocity, utility-scale power origination pipeline spanning ~10,800 MW of capacity as of March 31, 2025, a more than threefold increase from 3,000+ MW as of the end of Q2 2024, including ~2,600 MW under exclusivity, anchored by a power-native team led by former executives and team members from some of North America's largest generation owners, utilities, energy investment firms, infrastructure developers, and trading desks Advanced AI data center development opportunities comprising 430 MW of total capacity, including River Bend, a 592-acre campus in Louisiana where sitework is underway Designed and commercialized a next-generation Tier I data center form factor for ASIC compute at Vega, which features a proprietary, rack-based, direct-to-chip liquid cooling system designed by Hut 8 to support ASIC deployments at densities of up to 180 kilowatts ('kW') per rack, with initial customer discussions supporting the viability of this architecture for future iterations of liquid-cooled infrastructure to meet emerging HPC workloads and next-generation AI data center design Restructured its Bitcoin mining business into a standalone entity through the launch of American Bitcoin Corp. ('American Bitcoin'), creating a dedicated Bitcoin accumulation vehicle that can scale independently without diverting capital from the Company's core Power and Digital Infrastructure businesses Scaled lower volatility, contracted businesses, executing an ASIC Colocation agreement with BITMAIN at Vega, ASIC Colocation and Managed Services agreements with American Bitcoin, and five-year capacity contracts with the Ontario Independent Electricity System Operator ('IESO') for 310 MW of Power Generation assets Executed innovative, dilution-sensitive financings, including: (i) an upsized Coinbase credit facility, increased from $65 million to $130 million, with a fixed interest rate of 9.0%, compared to a stated interest rate ranging from 10.5% to 11.5% between the quarter ended December 31, 2023 and the quarter ended March 31, 2025; (ii) a Bitcoin-backed call option structure used to fund the Company's purchase of machines from BITMAIN; (iii) a covered call program that generated more than $20 million in net proceeds from premiums on Bitcoin held in reserve in fiscal year 2024; and (iv) an at-the-market ('ATM') equity offering program through which $275.5 million in net proceeds has been raised at a weighted average price of $28.23 per share as of March 31, 2025 Deepened institutional alignment, supporting growth in institutional ownership from approximately 12% at the end of Q1 2024 to approximately 55% at year-end 2024, marked by milestones like a strategic investment from Coatue, the conversion of the Company's Anchorage loan to equity, the onboarding of a Big 4 audit firm, and the hiring of seasoned veterans from the power and digital infrastructure sectors Realigned its reporting structure to provide a clearer, more comprehensive view of how each layer of the Company's platform—Power, Digital Infrastructure, and Compute—contributes to growth, profitability, and value creation in the context of the overall business The Hut 8 name remains unchanged, reflecting the Company's continued alignment with the legacy of technical innovation that defines its namesake. Named for the building at Bletchley Park where Alan Turing led foundational work in computer science and artificial intelligence during World War II, the Company carries forward that legacy today at the intersection of energy and technology. The rebrand does not impact Hut 8's existing relationships, agreements, and operations. The Company's updated website is now live at About Hut 8 Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit and follow us on X at @Hut8Corp. Cautionary Note Regarding Forward–Looking Information This press release includes 'forward-looking information' and 'forward-looking statements' within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, 'forward-looking information'). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the Company's strategic focus on energy and digital infrastructure through an integrated platform model focused on disciplined capital allocation, operational rigor, and relentless performance optimization, the viability of the Company's proprietary system to support future iterations of liquid-cooled infrastructure to meet emerging HPC workloads and next-generation AI data center design, the ability of American Bitcoin to scale without diverting capital from the Company's core Power and Digital Infrastructure businesses, and other such matters is forward-looking information. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'allow', 'believe', 'estimate', 'expect', 'predict', 'can', 'might', 'potential', 'predict', 'is designed to', 'likely,' or similar expressions. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at and SEDAR+ profile at
