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Soluna Holdings and Applied Digital Corporation Form Joint Venture for AI Data Center

Oct 21, 2026

Contract Type

partnership

AlbanyManufacturingEnergyFinancial ServicesRenewable Energy

Description

Soluna Holdings, Inc. has announced a definitive agreement to establish a jointly owned company with Applied Digital Corporation. The partnership will focus on developing a 50 MW critical IT data center for AI and HPC at Project Dorothy 3 in Texas. This initiative is aimed at enhancing data processing capabilities in the region

Quick answer

Soluna Holdings and Applied Digital Corporation Form Joint Venture for AI Data Center (October 21, 2026). Soluna Holdings is based in Albany, New York, United States.

What agreement did Soluna Holdings announce on October 21, 2026?
Soluna Holdings, Inc. has announced a definitive agreement to establish a jointly owned company with Applied Digital Corporation. The partnership will focus on developing a 50 MW critical IT data center for AI and HPC at Project Dorothy 3 in Texas.
What does Soluna Holdings do?
The Company expects to issue an aggregate of approximately $29 million of shares of Series A Preferred Stock in connection with the concurrent offerings, and expects the extinguishment of an aggregate principal amount...
Where is Soluna Holdings based?
Soluna Holdings is based in Albany, New York, United States.
Which similar companies announced agreements around the same time?
Ascent Solar Technologies (October 21, 2026), American Electric Power (October 20, 2026), Nordex Group (October 23, 2026) and Ina Solar (October 23, 2026) also announced agreements within 45 days of Soluna Holdings.

Source: Fundz verified event record.

Other recent agreements in Energy and Financial Services

Contracts and agreements at companies in the same sectors within 45 days, from Fundz verified event records.

Company Information

Company

Soluna Holdings

Location

325 Washington Avenue Extension

Albany, New York, United States

About

The Company expects to issue an aggregate of approximately $29 million of shares of Series A Preferred Stock in connection with the concurrent offerings, and expects the extinguishment of an aggregate principal amount of $20 million of outstanding promissory notes of the Company held by institutional lenders in exchange for the shares of Series A Preferred Stock issued to such lenders in connection with the registered direct offering. The Company expects to receive an aggregate amount of approximately $9.2 million from the underwritten public offering, before deducting underwriting discounts and other estimated offering fees and expenses. Soluna Holdings, Inc. (“SHI”) (Nasdaq: SLNH) is the leading developer of green data centers that convert excess renewable energy into global computing resources.

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Agreement Insights

What this usually means
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies

Soluna Holdings signed a new agreement. Fundz surfaces partnerships and contracts as they are announced.

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