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Soluna Holdings Enters Subscription Agreement for Joint Data Center Development with Applied Digital Corporation
Oct 21, 2026
Contract Type
partnership
New YorkManufacturingFinancial Services
Description
On October 20, 2026, Soluna Holdings, Inc. entered into a Subscription Agreement with affiliates of Applied Digital Corporation to create a jointly owned company focused on developing a 50 megawatt Critical I.T. data center. This center will support artificial intelligence and high-performance computing at Project Dorothy 3
Company Information
Company
Soluna Holdings
Location
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.
New YorkManufacturingFinancial Services