Soluna Holdings Secures Financing with Galaxy Digital to Accelerate Data Center Expansion
2 minute read | March.27.2025
Soluna Holdings, Inc., a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, has secured a $5 million loan facility with Galaxy Digital (“Galaxy”), a financial services and investment management firm focused on digital assets and blockchain technology.
Orrick served as counsel to Galaxy.
The Companies:
Galaxy is a digital asset and blockchain leader providing access to the growing digital economy. Since 2018, Galaxy has been building a holistic financial platform spanning three complementary operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions.
Soluna Holdings designs and operates digital infrastructure co-located with renewable energy sources such as wind, solar, and hydroelectric power plants.
The Impact:
The financing further advances Soluna's mission to transform surplus renewable energy into global computing resources. It also provides the capital necessary for Soluna to accelerate its project development and expansion efforts.
“We’re excited to support Soluna with this financing,” said Max Bareiss, Head of Lending at Galaxy. “This deal reflects our confidence in Soluna’s business model and growth potential while underscoring our commitment to providing strategic capital to innovative companies at the forefront of technology.”