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Sunday, July 14, 2024
HomeNewsCrypto Mining Data Center Soluna Stock Surges After $14M Investment Deal

Crypto Mining Data Center Soluna Stock Surges After $14M Investment Deal


💰 Soluna Holdings’ stock surged by 12% after securing a $14 million investment deal for the development of Project Dorothy 1B in Texas.


  • 💼 Soluna Holdings received $14 million in funding for Project Dorothy 1B in Texas.
  • 🏗️ The funding includes a $2 million loan for site construction and a $12 million equity investment.
  • 💡 Soluna will provide operations and maintenance expertise and retain a 51% ownership stake.
  • 💰 The partnership aims to achieve cash flow positivity by the second half of 2023.
  • ⛏️ After a challenging period, the crypto mining industry is recovering due to the rising price of bitcoin.
  • 📉 Soluna Holdings’ stock has fallen 22% this year, underperforming pure-play mining firms and bitcoin’s price.

Source: Coindesk


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