Soluna acquires 150 MW wind farm for $53 million in West Texas

Soluna Holdings Inc. (NASDAQ: SLNH) completed the acquisition of the 150 MW Briscoe Wind Farm in West Texas for $53 million, according to a company statement. The transaction was financed through cash and $12.5 million in debt from Generate Capital.

The wind farm acquisition is projected to generate $6 million to $11 million in adjusted EBITDA and $20 million to $24.4 million in annualized revenue during the first year of ownership. The facility features GE Vernova turbines and connects to the ERCOT grid system.

The purchase allows Soluna to own both the renewable energy source and data center infrastructure at its Project Dorothy site. "Energy sovereignty is the key durable moat in the AI infrastructure race," said John Belizaire, CEO of Soluna.

With the wind farm secured, Soluna plans to develop Project Dorothy 3, a 300 MW AI campus expansion on 300 acres adjacent to its existing facilities. The company describes this as achieving vertical integration by controlling power generation, land, and computing infrastructure at the site.

Soluna operates green data centers that convert renewable energy into computing power for applications including Bitcoin mining and artificial intelligence workloads. The company's development pipeline exceeds 4.3 GW across multiple sites, including the recently energized 83 MW Project Kati 1 and a joint venture for Project Kati 2.

The company expects to file additional details about the acquisition terms in a Form 8-K with the Securities and Exchange Commission.

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