Soluna: $5 Million In Non-Dilutive Debt Financing Raised From Galaxy Digital
Summary
Soluna Holdings a developer of green data centers for intensive computing applications, including Bitcoin mining and AI announced that it has successfully closed a $5 million loan facility with Galaxy Digital, a financial services and investment management innovator in the digital asset and blockchain technology sectors.This loan will have a five-year term. It is secured, with limited recourse to the parent company, showing the strength of project-level standalone cash flows and the ability to attract institutional financing. Orrick, Herrington & Sutcliffe LLP acted as legal counsel to Galaxy Digital.This deal underscores the strength of our project cash flows and demonstrates investor confidence in our ability to monetize energy through AI and Bitcoin mining. Simply put, the assets we build are durable and very, very valuable. This deal reflects our confidence in Solunas business model and growth potential while underscoring our commitment to providing strategic capital to innovative companies at the forefront of technology.