Soluna Holdings Soars 16.96% on Texas Project Expansion

Soluna Holdings shares surged 16.96% in pre-market trading on July 9, 2025, driven by the company's announcement of a significant expansion at its Texas-based Project Dorothy 2. This expansion, which includes a 30 MW increase in capacity, marks the third deal with a leading Bitcoin miner and brings the project to full capacity.

Soluna Holdings, a developer of green data centers, has been actively expanding its infrastructure to support intensive computing applications, including Bitcoin mining and AI. The recent expansion at Project Dorothy 2 is a testament to the growing demand for sustainable, renewable-powered data centers. The project, co-located with a 150 MW wind farm, is designed to optimize Bitcoin mining efficiency while minimizing environmental impact.

The expansion represents an additional 1,462.03 PH/s of hashrate powered by renewable energy, furthering both companies' commitment to sustainable blockchain infrastructure. This milestone not only fills the rack capacity at Dorothy 2 but also underscores the rising demand for efficient, renewable-powered infrastructure in the post-halving era. The first phase of the project came online in Q2 2025 and is expected to reach full capacity by Q4 2025.

Soluna's CEO, John Belizaire, highlighted the significance of this expansion, stating that it marks the full ramp of Dorothy 2’s sustainable hosting capacity and another strong vote of confidence from one of their longest-standing customers. This deal brings 100% of Soluna's active facilities to full capacity, reflecting the company's strategic growth and commitment to sustainable computing solutions.