Soluna Finishes Project Dorothy 2, Boosting Operational Capacity by 64% to 123 MW
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
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Should l Buy SLNH?
Source: Newsfilter
Project Completion: Soluna Holdings has completed and fully energized Project Dorothy 2, a 48 MW expansion of its flagship data center in West Texas, achieving over 3.9 EH/s of sustainable computing power with 95% uptime.
Operational Efficiency: The 100 MW Project Dorothy campus is now fully operational, increasing Soluna's total data center capacity to 123 MW and over 5 EH/s, demonstrating significant growth since April 2025.
Renewable Energy Utilization: The project converts curtailed renewable energy from a 150 MW wind farm into computing power for Bitcoin mining and AI, utilizing approximately 80,000 MWh of otherwise wasted energy annually.
Job Creation and Future Plans: The transition to full operations has created 18 full-time local jobs, and Soluna is advancing additional renewable computing projects, including the 166 MW Project Kati currently under construction.
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Analyst Views on SLNH
Wall Street analysts forecast SLNH stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 0.909
Low
5.00
Averages
5.00
High
5.00
Current: 0.909
Low
5.00
Averages
5.00
High
5.00
About SLNH
Soluna Holdings, Inc. is a digital infrastructure company specializing in transforming surplus renewable energy into computing resources. It operates modular data centers co-located with wind, solar, and hydroelectric power plants, supporting compute-intensive applications, including bitcoin mining, generative artificial intelligence (AI), and scientific computing. Its segments include Cryptocurrency Mining, Data Center Hosting, and High-Performance Computing (HPC). Its Soluna Cloud Services business provides HPC services to support generative AI workstreams and proprietary software MaestroOS helps to energize a greener grid while delivering computing solutions and superior returns. It offers colocation and hosting services for companies seeking to train large language models (LLMs), fine-tune existing artificial intelligence models, and deploy other compute-intensive AI or HPC workloads. It also provides hosting services to third-party Bitcoin mining customers at its data centers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Project Update: Soluna collaborates with Metrobloks to engineer a 350MW AI campus at Project Kati 2, spanning seven buildings, which is expected to significantly enhance the company's competitive position in the AI and high-performance computing sectors.
- Land Expansion: The company has secured over 500 acres of additional land to support a larger campus plan, a strategic move that will provide ample space for future expansion and customer demand.
- Customer Deployment: A 20MW customer expansion deployment is underway at Project Dorothy 1A, expected to be completed by the end of February, which will further strengthen the company's revenue streams and market position.
- Executive Appointment: Michael Picchi has been appointed as Chief Financial Officer, effective April 1, 2026, aimed at enhancing the company's financial management capabilities to support future growth strategies.
See More
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- Capacity Enhancement: The total capacity of Project Kati is 83 MW, with Kati 1A (48 MW) expected to be fully operational by early Q2 and Kati 1B (35 MW) anticipated to be completed by the end of Q3, resulting in an overall capacity increase of over 67%.
- Revenue Expectations: Project Kati is projected to generate annual revenues between $17.3 million and $19.6 million, indicating that this project will provide substantial financial returns and further solidify Soluna's market position in Bitcoin mining and AI computing.
- Renewable Energy Utilization: The project is powered entirely by the Las Majadas wind energy project, showcasing Soluna's strategic vision in renewable computing, aiming to drive sustainable development through efficient computing infrastructure.
See More
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- Modular Design Benefits: The eight modular data center units under the agreement feature a patented pre-fabricated design with integrated 2MW transformers and high-performance cooling systems, aimed at accelerating deployment and reducing on-site labor requirements, thereby enhancing overall operational efficiency.
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See More
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- Transition Plan: David Michaels, who has been serving as interim CFO since August 2025, will continue in this role until March 31, 2026, ensuring financial stability and continuity during the executive transition period.
- Market Reaction: Following the announcement, SLNH shares fell 4.2% in premarket trading to $1.599, indicating market caution regarding the potential impact of the new CFO and the company's future strategy.
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See More
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- Executive Appointment: Soluna Holdings has appointed Michael Picchi as Chief Financial Officer effective April 1, 2026, who will lead the finance organization and support the capital strategy to enhance the company's expansion in renewable-powered data centers.
- Transition Management: David Michaels, who has served as Interim CFO since August 2025, will continue in his role until March 31, 2026, ensuring financial stability and strategic continuity during the executive transition period.
- Extensive Experience: Picchi brings over 30 years of financial management experience, having served as CFO at TECFusions, focusing on sustainable high-density AI infrastructure development, and his background is expected to strongly support Soluna's long-term growth strategy.
- Market Outlook: Picchi expressed excitement about Soluna's model, which effectively utilizes surplus clean energy by co-locating digital infrastructure with renewable generation, anticipating significant growth in the company's market share within the sustainable computing sector.
See More
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- Technological Innovation: The pilot will integrate Siemens' electrical infrastructure and monitoring systems, documenting performance data through a structured commissioning process to ensure stability under rapid load changes, creating a replicable blueprint for future renewable energy computing deployments.
- Market Demand Response: As AI demand accelerates, the collaboration between Soluna and Siemens addresses the power demand fluctuations caused by GPU-driven workloads, not only increasing the utilization of renewable energy but also creating a win-win situation for power providers and customers.
- Future Outlook: Both parties anticipate validating an enterprise-grade renewable computing blueprint through this collaboration, combining Siemens' proven power infrastructure with Soluna's renewable-first data center model to drive faster scaling of AI and high-performance workloads while enhancing grid stability and energy efficiency.
See More
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- Project Update: Soluna collaborates with Metrobloks to engineer a 350MW AI campus at Project Kati 2, spanning seven buildings, which is expected to significantly enhance the company's competitive position in the AI and high-performance computing sectors.
- Land Expansion: The company has secured over 500 acres of additional land to support a larger campus plan, a strategic move that will provide ample space for future expansion and customer demand.
- Customer Deployment: A 20MW customer expansion deployment is underway at Project Dorothy 1A, expected to be completed by the end of February, which will further strengthen the company's revenue streams and market position.
- Executive Appointment: Michael Picchi has been appointed as Chief Financial Officer, effective April 1, 2026, aimed at enhancing the company's financial management capabilities to support future growth strategies.
See More
Soluna's Project Kati 1 Launches, Exceeding 200 MW Compute Capacity
- Project Kati 1 Launch: Soluna has received ERCOT approval to begin initial energization and phased commissioning of Project Kati 1 as scheduled, marking a significant advancement in the green data center sector.
- Capacity Enhancement: The total capacity of Project Kati is 83 MW, with Kati 1A (48 MW) expected to be fully operational by early Q2 and Kati 1B (35 MW) anticipated to be completed by the end of Q3, resulting in an overall capacity increase of over 67%.
- Revenue Expectations: Project Kati is projected to generate annual revenues between $17.3 million and $19.6 million, indicating that this project will provide substantial financial returns and further solidify Soluna's market position in Bitcoin mining and AI computing.
- Renewable Energy Utilization: The project is powered entirely by the Las Majadas wind energy project, showcasing Soluna's strategic vision in renewable computing, aiming to drive sustainable development through efficient computing infrastructure.
See More
Soluna Signs Equipment Supply Agreement with Cormint for 12 MW Deployment
- Equipment Supply Agreement: Soluna Holdings has executed an agreement with Cormint Data Systems to support a 12 MW data center deployment at Project Kati 1 in Willacy County, Texas, marking a significant advancement in the company's green data center initiatives.
- Modular Design Benefits: The eight modular data center units under the agreement feature a patented pre-fabricated design with integrated 2MW transformers and high-performance cooling systems, aimed at accelerating deployment and reducing on-site labor requirements, thereby enhancing overall operational efficiency.
- Project Timeline: These modular units are expected to be delivered in Q1 2026 and commissioned by Q2 2026, demonstrating the company's commitment to meeting market demands for speed and reliability in infrastructure.
- Renewable Energy Strategy: The Kati 1 project is a wind-powered data center dedicated to Bitcoin mining, with the initial 12 MW deployment reinforcing Soluna's market position in renewable-powered digital infrastructure.
See More
Soluna Holdings Appoints CFO Michael Picchi to Drive Renewable Data Center Growth
- Executive Appointment: Soluna Holdings has appointed Michael Picchi as CFO and treasurer effective April 1, 2026, bringing experience from TECFusions where he served as CFO, which is expected to enhance the company's capital strategy supporting the expansion of renewable-powered data centers.
- Transition Plan: David Michaels, who has been serving as interim CFO since August 2025, will continue in this role until March 31, 2026, ensuring financial stability and continuity during the executive transition period.
- Market Reaction: Following the announcement, SLNH shares fell 4.2% in premarket trading to $1.599, indicating market caution regarding the potential impact of the new CFO and the company's future strategy.
- Business Context: Soluna Holdings focuses on renewable energy-driven data center operations, actively expanding its market share in response to growing AI compute demand, with Picchi's appointment seen as a crucial move to strengthen financial management and capital operations.
See More
Soluna Holdings Appoints New CFO to Drive Renewable Data Center Growth
- Executive Appointment: Soluna Holdings has appointed Michael Picchi as Chief Financial Officer effective April 1, 2026, who will lead the finance organization and support the capital strategy to enhance the company's expansion in renewable-powered data centers.
- Transition Management: David Michaels, who has served as Interim CFO since August 2025, will continue in his role until March 31, 2026, ensuring financial stability and strategic continuity during the executive transition period.
- Extensive Experience: Picchi brings over 30 years of financial management experience, having served as CFO at TECFusions, focusing on sustainable high-density AI infrastructure development, and his background is expected to strongly support Soluna's long-term growth strategy.
- Market Outlook: Picchi expressed excitement about Soluna's model, which effectively utilizes surplus clean energy by co-locating digital infrastructure with renewable generation, anticipating significant growth in the company's market share within the sustainable computing sector.
See More
Soluna Partners with Siemens to Deploy 2 MW Green Data Center Pilot
- Partnership Agreement: Soluna has signed a Memorandum of Understanding with Siemens to deploy a 2 MW pilot project at Project Grace in Texas, aimed at managing power demand fluctuations for AI and high-performance computing using renewable energy, thereby enhancing energy efficiency and stability in data centers.
- Technological Innovation: The pilot will integrate Siemens' electrical infrastructure and monitoring systems, documenting performance data through a structured commissioning process to ensure stability under rapid load changes, creating a replicable blueprint for future renewable energy computing deployments.
- Market Demand Response: As AI demand accelerates, the collaboration between Soluna and Siemens addresses the power demand fluctuations caused by GPU-driven workloads, not only increasing the utilization of renewable energy but also creating a win-win situation for power providers and customers.
- Future Outlook: Both parties anticipate validating an enterprise-grade renewable computing blueprint through this collaboration, combining Siemens' proven power infrastructure with Soluna's renewable-first data center model to drive faster scaling of AI and high-performance workloads while enhancing grid stability and energy efficiency.
See More
