Soluna Fills Rack Capacity at Dorothy 2 with 30 MW Expansion with Top-Tier Bitcoin Miner

ALBANY, N.Y.--(BUSINESS WIRE)--Jul 8, 2025--

Soluna Holdings, Inc. (“Soluna” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, today announced a 30 MW expansion with an industry-leading Bitcoin miner at the company’s flagship project site, Texas-based Project Dorothy 2. This marks the third expansion with this customer, who first deployed with Soluna at Project Sophie in 2023. With this deal, Project Dorothy 2 is now fully marketed and contracted.

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“This milestone marks the full ramp of Dorothy 2’s sustainable hosting capacity—and another strong vote of confidence from one of our longest-standing customers,” said John Belizaire, CEO of Soluna. “It’s a major milestone in our growth pipeline, bringing 100% of our active facilities to full capacity. It also underscores the rising demand for efficient, renewable-powered infrastructure in the post-halving era.”

The customer expansion represents an additional 1,462.03 PH/s of hashrate powered by renewable energy, further advancing both companies’ commitment to sustainable blockchain infrastructure in the United States.

Project Dorothy 2 is a 48 MW data center co-located with a 150 MW wind farm. The first phase of its three-phase ramp came online in Q2 2025 and will reach full capacity in Q4 2025. The site is engineered to optimize Bitcoin mining efficiency while reducing environmental impact. Soluna will begin phasing in the customer’s hardware in the coming weeks.

For updates and more information, visit www.solunacomputing.com.

Soluna’s glossary of terms can be found here.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Other examples of forward-looking statements may include, but are not limited to, statements of Soluna’s plans and objectives, including with respect to the development of Project Dorothy 2, and our expectations with respect to the amount of renewable energy capacity Project Dorothy 2 will deliver. Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.

About Soluna Holdings, Inc. (Nasdaq: SLNH)

Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna’s pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna’s proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com and follow us on:

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Soluna Fills Rack Capacity at Dorothy 2 with 30 MW Expansion with Top-Tier Bitcoin Miner

KYIV, Ukraine (AP) — Russian drones blasted apartment buildings and the power grid in the southern Ukraine city of Odesa in an overnight attack that injured six people, including a toddler and two other children, officials said Wednesday.

Four apartment buildings were damaged in the bombardment, according to regional military administration head Oleh Kiper. Power company DTEK said two of its energy facilities suffered significant damage. The company said that 10 substations that distribute electricity in the Odesa region were damaged in December alone.

Russia has this year escalated its long-range attacks on urban areas of Ukraine. In recent months, as Russia’s invasion of its neighbor approaches its four-year milestone in February, it has also intensified its targeting of energy infrastructure, seeking to deny Ukrainians heat and running water in the bitter winter months.

From January to November this year, more than 2,300 Ukrainian civilians were killed and more than 11,000 were injured, the United Nations said earlier this month. That was 26% higher than in the same period in 2024 and 70% higher than in 2023, it said.

Russia’s sustained drone and missile attacks have taken place against backdrop of renewed diplomatic efforts to stop the fighting.

U.S. President Donald Trump hosted Ukrainian President Volodymyr Zelenskyy at his Florida resort on Sunday and announced that a settlement is “closer than ever before." The Ukrainian leader is due to hold talks next week with the heads of European governments supporting his efforts to secure acceptable terms.

The ongoing attacks, meantime, are inflaming tensions.

The overnight Odesa strikes “are further evidence of the enemy’s terror tactics, which deliberately target civilian infrastructure,” Kiper, the regional head, said.

Moscow has alleged that Ukraine attempted to attack Russian President Vladimir Putin’s residence in northwestern Russia with 91 long-range drones late Sunday and early Monday. Ukrainian officials deny the claim and say it’s a ruse to derail progress in the peace negotiations.

Maj. Gen. Alexander Romanenkov of the Russian air force claimed Wednesday that the drones took off from Ukraine’s Sumy and Chernihiv regions.

At a briefing where no questions were allowed, he presented a map showing the drone flight routes before they were downed by Russian air defenses over the Bryansk, Tver, Smolensk and Novgorod regions.

It was not possible to independently verify the reports.

The European Union’s foreign policy chief, Kaja Kallas, on Wednesday called the Russian allegations “a deliberate distraction” from the peace talks.

“No one should accept unfounded claims from the aggressor who has indiscriminately targeted Ukraine’s infrastructure and civilians since the start of the war,” Kallas posted on X.

Zelenskyy said Wednesday that Romania and Croatia are the latest countries to join a fund that buys weapons for Ukraine from the United States. The financial arrangement, known as the Prioritized Ukraine Requirements List, or PURL, pools contributions from NATO members, except the United States, to purchase American weapons, munitions and equipment.

Since it was established in August, 24 countries are now contributing to the fund, according to Zelenskyy. The fund has so far received $4.3 billion, with almost $1.5 billion coming in December alone, he said on social media.

Ukraine’s air force said Wednesday that Russia fired 127 drones at the country during the night, with 101 of them intercepted by air defenses.

Meanwhile, the Russian Defense Ministry said that 86 Ukrainian drones were shot down overnight over Russian regions, the Black Sea and the illegally annexed Crimea peninsula.

The Ukrainian attack started a fire at an oil refinery in Russia's southern Krasnodar region, but it was quickly put out, local authorities said.

This story has corrected the day of the alleged Ukrainian drone attack on the Russian president’s residence to late Sunday and early Monday.

Follow AP’s coverage of the war in Ukraine at https://apnews.com/hub/russia-ukraine

In this photo provided by the Ukrainian Emergency Service, emergency services personnel work to extinguish a fire following a Russian attack in Odesa, Ukraine, Wednesday, Dec. 31, 2025. (Ukrainian Emergency Service via AP)

In this image made from video provided by the Russian Defense Ministry Press Service on Tuesday, Dec. 30, 2025, a Russian Army soldier fires from D-30 howitzer towards Ukrainian positions in an undisclosed location in Ukraine. (Russian Defense Ministry Press Service via AP)