Soluna settles with NYDIG, advances data center projects

NEW YORK - Soluna Holdings, Inc. (NASDAQ:SLNH), a developer of green data centers, has settled all outstanding matters with NYDIG, according to a press release statement issued by the company.

The settlement, disclosed in a Form 8-K filed September 30, 2025, clears the path for future growth, according to the company. Soluna also announced it has regained compliance with Nasdaq’s continued listing requirements.

The company reported securing a scalable credit facility of up to $100 million from Generate Capital, with an initial draw of $12.6 million in September to fund refinancing and construction of active data center projects.

Soluna has broken ground on Project Kati, a 166 MW wind-powered data center in Texas on September 18, which the company describes as its largest project to date. The firm is also nearing completion of its Project Dorothy 2, with Phases 1 and 2 fully operational and Phase 3 commissioning underway. Final completion of Phase 3 is expected in November.

The company has signed a strategic agreement with Canaan Inc. to deploy 20 MW of Bitcoin miners at Project Dorothy in Texas. With recent commissioning and fleet upgrades, Soluna reports it has surpassed 4 EH/s of hash rate under management.

Soluna’s CTO Dip Patel is scheduled to speak at Infocast’s Energy Independence Summit in Houston on October 21, and the company’s team will attend the North American Blockchain Summit in Dallas from October 8-10.

The company develops green data centers for computing applications including Bitcoin mining and AI, with facilities strategically co-located with renewable energy plants.

In other recent news, Canaan Inc. has secured a significant purchase order for over 50,000 Avalon A15 Pro mining machines from a U.S.-based bitcoin mining operator. This order is noted as the largest Canaan has received in the past three years. The company has not disclosed the financial details of the agreement, but the machines are set for delivery in the fourth quarter of 2025. Additionally, Canaan has entered into a strategic hosting agreement with Soluna Holdings to deploy 20 megawatts of Avalon A15 XP Bitcoin miners at a wind-powered site in Texas, expected to commence in the first quarter of 2026.

In analyst news, Benchmark has reiterated its Buy rating for Canaan, maintaining a price target of $2.00. This follows a meeting between Benchmark’s analyst and Canaan’s Chief Financial Officer and Head of Capital Markets. These developments indicate ongoing interest and activity in the crypto mining sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.