Soluna secures $100 million credit facility, issues warrants for purchasing 4 million shares

Soluna Holdings (SLNH) announced in a press release that it had closed a scalable credit facility of up to $100 million with Generate Capital, PBC to refinance and construct its green data center projects, drawing an initial $12.6 million to fund active builds and refinance existing assets.

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The facility includes a delayed‐draw tranche of $22.9 million earmarked for continued development of Project Dorothy 2 and the forthcoming Project Kati 1 data center, as well as an uncommitted $64.5 million accordion feature to support Soluna’s growing 1 GW pipeline and AI‐related equipment procurement. Generate received warrants to purchase 4 million shares of Soluna common stock and secured a board observer right under the agreement.

This financing builds on over $30 million raised earlier in 2025 from Galaxy Digital, Spring Lane Capital and a recent public offering. It also follows Soluna past the one‐gigawatt milestone with the addition of the 150 MW Project Gladys and 100 MW Project Fei to Soluna’s clean computing capacity.

Read More: Soluna expands partnership with Galaxy Digital to scale bitcoin mining

At time of publication, SLNH is up 19% during pre-market hours.

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