Soluna Holdings has secured a $100 million credit facility from Generate Capital to expand its green data centers aimed at utilizing renewable energy for high-performance computing.

Information on the Target

Soluna Holdings, Inc. (NASDAQ: SLNH) specializes in developing green data centers that serve high-demand applications, such as artificial intelligence (AI) and Bitcoin mining. The company focuses on utilizing underutilized renewable energy sources to create modular and efficient computing infrastructures. With a commitment to sustainable practices, Soluna enables the transformation of curtailed energy into valuable computational power.

Recently, Soluna announced a significant up to $100 million scalable credit facility arrangement with Generate Capital. The initial draw of $12.6 million will finance the refinancing and construction of ongoing data center projects, while also contributing to the expansion of Soluna's ambitious 1 gigawatt renewable energy portfolio.

Industry Overview in the Target’s Specific Country

The renewable energy sector in the United States has witnessed remarkable growth, driven by investments in clean technology and a societal shift towards sustainability. States such as California and New York lead in renewable energy produc