Soluna Holdings shares fall 11.92% in after-hours after announcing Project Kati 1 funding and Project Dorothy 2 expansion.

Soluna Holdings, Inc. plunged 11.92% in after-hours trading, following the company's announcement of a $20 million funding round from Spring Lane Capital for Project Kati 1, with construction expected to begin in Q3 2025. Additionally, the company revealed the expansion of Project Dorothy 2 to 48 megawatts capacity, with full contract sales to Compass Mining and Blockware, and an increase in long-term power pipeline to 2.8 gigawatts, driving growth prospects.