Soluna Completes $16.5 Million Acquisition of Project Dorothy 1A to Enhance AI Campus Development
Soluna Acquires Full Ownership of Project Dorothy 1A, Accelerating Vertical Integration and AI Campus Development
Businesswire
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Soluna Holdings, Inc. has acquired full ownership of Project Dorothy 1A in Silverton, Texas, for $16.5 million, marking a significant step in its vertical integration strategy. This acquisition will enable the company to transition the campus to AI computing and attract new equity partners aligned with its AI-first approach.
- 01Soluna's acquisition of Project Dorothy 1A gives it 100% ownership, enhancing its control over the AI campus.
- 02The acquisition cost $16.5 million, with payments structured in two installments.
- 03This move follows Soluna's earlier acquisition of the Briscoe Wind Farm, which provides 150 megawatts of renewable power.
- 04Soluna aims to transition the Dorothy campus primarily to AI workloads as development progresses.
- 05The company plans to pursue full ownership of the entire Project Dorothy campus, including future projects.
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Soluna Holdings, Inc. has successfully acquired full ownership of Project Dorothy 1A, located in Silverton, Texas, for $16.5 million. This acquisition consolidates control over the campus, allowing Soluna to pivot existing infrastructure towards AI computing. Previously, Soluna held a 14.6% interest in the project and now owns 100% of both Class A and Class B Membership Interests. The acquisition is part of Soluna's broader strategy to vertically integrate its operations, following its recent purchase of the Briscoe Wind Farm, which supplies 150 megawatts of renewable energy. CEO John Belizaire emphasized that this control will facilitate an accelerated path to power for AI customers. The transaction is structured with an initial payment of $6 million, with the remainder due in July 2026. Soluna plans to further develop the Dorothy campus, aiming for full ownership of the entire site and exploring new equity partnerships to support its AI infrastructure initiatives. The company’s development pipeline now exceeds 4.3 gigawatts across various projects.
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The acquisition positions Soluna to enhance its AI capabilities and attract new investment, potentially creating jobs and boosting the local economy in Silverton, Texas.
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