Soluna's $100M Boost Signals Turning Point for Green Data Centers

2025-09-16 07:49:29 ET

DENVER, Colo., Sep 16, 2025 ( 247marketnews.com )- Soluna (NASDAQ:SLNH) just scored a major win in the race to redefine data infrastructure, by securing up to $100 million in scalable credit from Generate Capital.

This isn’t just another funding round. With an initial $12.6 million draw already earmarked for refinancing and ongoing construction, the deal positions Soluna to accelerate its rollout of clean-powered data centers, with support for over 1 gigawatt of upcoming projects. It also marks a shift in how digital infrastructure gets financed, modular, capital-efficient, and tied directly to the energy transition.

Soluna is known for turning underutilized renewable energy into compute capacity for batchable, high-demand applications like Bitcoin mining and artificial intelligence. By building colocated data centers next to clean energy producers, the company addresses two challenges at once: wasted renewable power and rising compute demand.

“This deal reflects a different kind of infrastructure financing,” said John Belizaire, CEO of Soluna.

Generate clearly sees long-term value in this model. “Soluna’s vision for turning underutilized renewable energy into scalable computing power aligns with our belief in infrastructure that solves real-world challenges,” said Ryan Miller, Principal at Generate Capital.

The credit facility includes an uncommitted $64.5 million accordion tranche to scale further projects and support procurement of AI-related equipment, a sign that Soluna’s ambitions go well beyond Bitcoin mining. The company recently surpassed 1 gigawatt of renewable computing capacity with the addition of Projects Gladys (150 MW) and Fei (100 MW), and is pushing forward on Project Dorothy 2 and the upcoming Project Kati 1.

Beyond capital, the deal gives Generate board observer rights and warrants to purchase 4 million shares of SLNH stock, underscoring their long-term commitment.

Backed by a recent $30 million raise from Galaxy Digital, Spring Lane Capital, and others, this milestone marks a new phase for Soluna. With growing partnerships across both crypto and AI ecosystems, the company is poised to play a pivotal role in the green compute revolution.

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