Solna (NASDAQ: SLNH) Holdings has acquired full ownership of another portion of its flagship Texas campus, continuing its broader efforts to transform the Bitcoin mining complex into an AI and high-performance computing site powered by proprietary renewable energy.
This article first appeared on The Energy Mag. The original article can be found here. The Energy Mag (formerly The Miner Mag) provides news, data and insight on the nexus of energy, computing and markets.
The company announced Tuesday that it has purchased the remaining 49% equity interest in Project Dorothy 1B from Navitas Global for approximately $8.8 million, giving Soluna full ownership of the 25-megawatt facility in Silverton, Texas.
The deal is the latest step in the consolidation of the Dorothy Campus, following Solna’s $53 million acquisition of the Brisco Wind Farm and its earlier $16.5 million acquisition of Project Dorothy 1A.
With the Brisco wind farm providing 150 megawatts of owned renewable power and Soluna now controlling 100% of both Dorothy 1A and 1B, the company has created what it describes as a fully integrated “generation to compute” ownership chain across the 50 megawatt Dorothy 1 complex.
CEO John Belizea said the acquisition gives Soluna greater flexibility in how and when to transition its campuses to AI infrastructure.
“Completing the acquisition of Dorothy 1 is an important step in our broader roadmap toward building Dorothy 3 for AI and high-performance computing,” Berizaia said in a statement.
The Dorothy Campus currently operates approximately 100 megawatts across three phases. Dorothy 1A is a 25 megawatt Bitcoin mining hosting facility, while Dorothy 1B operates at 25 megawatts dedicated to its own mining. Dorothy 2 is contributing an additional 48 megawatts, primarily to the hosting business, with Spring Lane Capital remaining an investor.
Earlier this month, Belizaia told TheEnergyMag that Soluna plans to move existing mining customers from Dorothy 1A to other facilities in its portfolio as part of a long-term plan to transform the campus for AI and HPC workloads.
The company said it is “bifurcating” its business by separating its Bitcoin mining and AI infrastructure into different sites, and that its future Bitcoin operations will focus on hosting rather than expanding its own hashrate.
Soluna said full ownership of Dorothy 1 is needed before the next phase of the campus, Dorothy 3, can be sold to potential AI tenants. The company is also actively evaluating opportunities related to Dorothy 2 as part of its broader campus strategy.
The transaction was fully funded with cash on the balance sheet and closed on May 19th.
The move comes as more Bitcoin miners look to repurpose existing power infrastructure for AI and high-performance computing as mining profitability continues to come under pressure. Industry hash prices have hovered near historically compressed levels in recent months, prompting carriers to pursue more stable, long-term revenue streams related to AI workloads.
Soluna’s broader development pipeline currently exceeds 4.3 GW, including more than 1 GW across development, construction and operations projects.
This article first appeared on The Energy Mag. The original article can be found here. The Energy Mag (formerly The Miner Mag) provides news, data and insight on the nexus of energy, computing and markets.
