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Soluna secures $20 million in funding from Spring Lane Capital to launch the Kati 1 project.
BlockBeats news, on July 22, according to a report by businesswire, data center developer Soluna Holdings, Inc. (NASDAQ: SLNH) announced today that it has completed its latest round of financing, funded 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 initiate the construction of the Kati 1 project in the third quarter of 2025 and aims to achieve preliminary power-up and gradual production in the first quarter of 2026. The new facility is designed to accommodate approximately 12,000 next-generation Bitcoin mining rigs.