TechFlow news — Soluna Holdings, a developer of cryptocurrency mining data centers, has received a $14 million investment from private data center development firm Navitas Global to complete the development of its Dorothy 1B data center in Texas.
The deal includes a $2 million loan to finish construction of the 25-megawatt (MW) site and a $12 million equity investment. Soluna will provide operational and maintenance expertise and retain 51% ownership of the project. The transaction is expected to help Soluna achieve positive cash flow in the second half of this year.
Navitas Global is a private data center development company that partners with landowners, developers, energy providers, and operators to build world-class Bitcoin mining facilities.
