Soluna Holdings Secures $5M Financing with Galaxy Digital
Deal News | Mar 28, 2025 | Orrick
Soluna Holdings, Inc., known for developing green data centers that support Bitcoin mining and AI, has secured a $5 million loan facility from Galaxy Digital. This financial support is set to expedite Soluna's data center expansion and project development, aiming to convert surplus renewable energy into computing resources. Galaxy Digital, specializing in digital assets and blockchain technology, has expressed confidence in Soluna's business model and growth possibilities, indicating a strategic partnership between the two companies. Legal firm Orrick advised Galaxy Digital in this transaction.
Sectors
- Digital Infrastructure
- Renewable Energy
- Financial Services
- Blockchain Technology
Geography
- United States – Both Soluna Holdings and Galaxy Digital operate within the United States, making it highly relevant geographically.
Industry
- Digital Infrastructure – Soluna Holdings operates in the digital infrastructure sector by developing data centers for intensive computing tasks like AI and Bitcoin mining.
- Renewable Energy – Soluna's data centers are co-located with renewable energy sources, making the renewable energy sector relevant.
- Financial Services – Galaxy Digital provides financial services in the digital asset space, highlighting the financial services industry.
- Blockchain Technology – Galaxy Digital's focus on blockchain technology underscores their role within this innovative sector.
Financials
- $5 million – The amount of the loan facility secured by Soluna Holdings from Galaxy Digital to further its data center expansion.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Soluna Holdings, Inc. | Target Company | Company | Developer of green data centers co-located with renewable energy sources. |
| Galaxy Digital | Lender | Company | A financial services and investment management firm focused on digital assets and blockchain technology. |
| Orrick | Legal Advisor | Company | Served as legal counsel to Galaxy Digital in the financing deal with Soluna Holdings. |