SLNH · Soluna Holdings, Inc.

Soluna Holdings has completed a strategic acquisition that consolidates its control over the Dorothy campus infrastructure. By purchasing Spring Lane Capital's remaining 85.4% interest in Project Dorothy 1A for $16.5 million, Soluna now owns 100% of the facility located in Silverton, Texas. This transaction represents the second major step in the company's vertical integration strategy following the $53 million acquisition of the Briscoe Wind Farm earlier in April 2026. The financing structure includes a $12 million unsecured promissory note maturing in May 2027, supplemented by balance sheet cash. With full ownership of both D1A and the Briscoe Wind Farm providing 150 megawatts of owned renewable power, Soluna gains the equity control necessary to pivot the Dorothy campus toward AI computing workloads. This positions the company to accelerate development of Dorothy 3 and potentially bring in new equity partners aligned with its AI-first strategy. CEO John Belizaire emphasized that this control creates 'an accelerated path to power for AI customers.' The acquisition reflects Soluna's broader strategy to transition its development pipeline, which now exceeds 4.3 gigawatts across multiple sites, toward AI-focused infrastructure while maintaining vertical integration from energy generation to compute operations.