Soluna Holdings Stock Rises on Data Center Expansion With 'Top-Tier Bitcoin Miner'
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The deal with the Bitcoin miner brings Soluna's active facilities to full capacity, CEO John Belizaire said.KEY TAKEAWAYS
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Soluna Holdings shares rose in early trading Tuesday after the maker of green data centers announced an expansion of its Texas site with a company it called a “top-tier Bitcoin miner."
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“With this deal, Project Dorothy 2 is now fully marketed and contracted,” Soluna said.
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Soluna shares have fallen almost 70% this year.
Soluna Holdings (SLNH) shares rose in early trading Tuesday after the maker of green data centers announced an expansion of its Texas site with a company it called a “top-tier Bitcoin miner.”
“With this deal, Project Dorothy 2 is now fully marketed and contracted,” Soluna said.
The data center developer said it has expanded its flagship project site Project Dorothy 2 by 30 megawatts in its third buildout with this customer, which it didn’t name.
“It’s a major milestone in our growth pipeline, bringing 100% of our active facilities to full capacity,” Soluna CEO John Belizaire said.
Soluna shares rose 4.6% in early trading Tuesday. The company's shares have fallen almost 70% so far this year.
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The surge in Soluna Holdings' stock price following the announcement of its data center expansion with a 'Top-Tier Bitcoin Miner', reflects investors’ enthusiasm for enhancing their exposure to bitcoin mininginfrastructure, highlighting potential gains from increased efficiency and marketability.
The recent surge in Soluna Holdings stock suggests a promising future with their commitment to expanding data centers for serving as top-tier Bitcoin miners, an indication of growing demand and confidence within the blockchain industry.
Soluna Holdings' stock surge is a testament to the confidence investors have in their data center expansion strategy with one of 'Top-Tier Bitcoin Miners,' indicating potential for future growth and profitability.
The promising expansion of Soluna Holdings' data center to accommodate a 'Top-Tier Bitcoin Miner’ is undoubtedly fueling investors confidence, driving its stock price upwards amid growing crypto market bullishness.
