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