Soluna Announces Monthly Business Update

Soluna Holdings, Inc. (“Soluna” or the “Company”) (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, announced its September 2025 project site-level operations, developments, and updates.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251007611883/en/

Soluna Nears Completion of Project Dorothy 2

The Company has provided the following Corporate and Site Updates.

Key Company Metrics:

The monthly metrics are now available here.

Corporate Highlights:

• Settlement with NYDIG – As disclosed in our Form 8-K filed September 30, 2025, Soluna reached a settlement with NYDIG, resolving all outstanding matters and clearing the path for future growth and partnership. “We are pleased to put this matter behind us,” said John Belizaire, CEO of Soluna. “With this settlement, we can direct our full attention to building long-term value for our shareholders, partners, and customers.”
• Regained Nasdaq Compliance – Soluna has regained compliance with Nasdaq’s continued listing requirements, strengthening our position on the public markets, preserving access to the capital markets, and liquidity for our shareholders.
• $100 Million Credit Facility from Generate Capital – Soluna announced the close of a scalable credit facility up to $100 million from Generate Capital. The initial $12.6 million draw in September funded refinancing and construction of active data center projects, with additional capital support for Soluna’s 1 gigawatt and expanding pipeline.
• 20 MW Partnership with Canaan – Soluna signed a strategic agreement with Canaan Inc. to deploy 20 MW of next-generation Bitcoin miners at our Project Dorothy in Texas.
• Surpassed 4 EH/s of Hash Rate Under Management - With the commissioning of Dorothy 2 and fleet upgrades deployed across all sites, Soluna has now surpassed 4 EH/s of hash rate under management.
• Groundbreaking at Project Kati – We officially broke ground on Project Kati, a 166 MW wind-powered data center in Texas, marking our largest project to date. The ceremony took place on September 18, 2025.
• New Blog – Our latest blog explores how AI’s growing energy demands intersect with the future of renewable power.
• Joined the Texas Blockchain Council – Soluna has become a member of the Texas Blockchain Council, further strengthening its presence and advocacy within the state’s growing blockchain and energy ecosystem.
• North American Blockchain Summit – Soluna’s team will attend the North American Blockchain Summit in Dallas, TX, from October 8–10, 2025, joining industry leaders to discuss the future of blockchain and energy.
• CTO to Present at Infocast Summit – CTO Dip Patel will speak on the panel “Meeting Demand Growth: Onshoring Power for Next Gen Hyperscalers, AI, & Other Large Energy Customers” at Infocast’s Energy Independence Summit in Houston, TX, scheduled for October 21, 2025, from 1:45 – 2:30 PM.

Key Project Updates: