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

The shares of crypto mining data center Soluna Holdings (SLNH) rose about 12% on Monday, after the firm said it will get $14 million in funding to finish the development of Project Dorothy 1B in Texas, under a new deal with Navitas Global. The deal includes a $2 million loan to complete construction of the 25 megawatt (MW) site and a $12 million equity investment, the company said in a press release on Monday. Soluna will provide operations and maintenance expertise and will remain 51% owner of the project. The shares of the data center firm has fallen about 22% this year, underperforming pure-play mining firms and bitcoin price.

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