Soluna Holdings secures full ownership of Project Dorothy 1A in AI pivot

Soluna Holdings (NASDAQ:SLNH), a specialist in developing green data centers for intensive computing, announced today it has acquired Spring Lane Capital’s equity interest in Project Dorothy 1A (D1A) for $16.5 million.

The transaction grants Soluna 100% equity ownership of the Silverton, Texas-based facility and represents a pivotal step in the company’s efforts to vertically integrate its operations.

The acquisition follows Soluna’s $53 million purchase of the Briscoe Wind Farm earlier this month.

By controlling both the 150-megawatt renewable power source and the data center infrastructure, Soluna is positioning the Dorothy campus to pivot from Bitcoin mining toward high-demand AI workloads.

Full equity control of D1A allows the company to modify the site’s business plan to support AI infrastructure and accelerates the development of the upcoming Dorothy 3 expansion.

Under the terms of the deal, the $16.5 million purchase price will be paid in two cash installments: $6 million at closing and the remainder due in July 2026.

Prior to this, Soluna held a 14.6% interest in the Class B Membership Interests of D1A; the acquisition of the remaining 85.4% consolidates its ownership.

To fund the transaction, Soluna secured a $12 million unsecured promissory note with a lender, maturing in May 2027.