Soluna has secured a $20 million investment from Spring Lane Capital to launch the Kati 1 project construction.

BlockBeats News, July 22nd, according to businesswire, data center developer Soluna Holdings, Inc. (Nasdaq: SLNH) announced today that it has completed its latest round of financing, with funding provided by Spring Lane Capital (SLC) to support the expansion of its Kati project in Texas to 35 megawatts, officially launching the Kati 1 project.

With this financing, Soluna plans to start construction of the Kati 1 project in the third quarter of 2025 and aims to achieve initial power-on and gradual production by the first quarter of 2026. The new facility is designed to accommodate approximately 12,000 next-generation Bitcoin mining machines.