Business
Soluna Secures $5 Million in Non-Dilutive Debt Financing from Galaxy Digital
ALBANY, N.Y.--(BUSINESS WIRE)-- Soluna Holdings, Inc. (“Soluna” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for intensive computing
About this update from Soluna Holdings, Inc.
[{"type":"text","content":" ALBANY, N.Y.--(BUSINESS WIRE)--\nSoluna Holdings, Inc. (“Soluna” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, announced today that it has successfully closed a $5 million loan facility with Galaxy Digital (“Galaxy”) (TSX: GLXY), a financial services and investment management innovator in the digital asset and blockchain technology sectors.\n\nThe loan will have a five-year term. It is secured, with limited recourse to the parent company—highlighting the strength of project-level standalone cash flows and the ability to attract institutional financing. The Company has the right to prepay the loan, in whole or in part, at any time, subject to certain requirements defined by the Loan Agreement.\n\n“This deal underscores the strength of our project cash flows and demonstrates investor confidence in our ability to monetize energy through AI and Bitcoin mining,” said John Belizaire, CEO of Soluna Holdings, Inc. “Simply put, the assets we build are durable and very, very valuable. With this financing, we gain access to additional capital to accelerate our execution—without diluting our shareholders.”\n\n“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.”\n\nNixon Peabody LLP acted as legal counsel to the Company. Orrick, Herrington & Sutcliffe LLP acted as legal counsel to Galaxy Digital.\n\nHighlights of the Non-Dilutive Debt Financing:\n\n\n$5 million term loan\n\n\n\nFive-year amortizing term\n\n\n\nNon-dilutive debt financing with no equity features\n\n\n\nSecurity is limited to the assets at the project level, with a limited recourse parent company guarantee\n\n\n\nSupports Soluna’s continued project development and expansion\n\n\nThis financing marks another milestone in Soluna’s commitment to delivering sustainable, scalable computing solutions.\n\nFor more information about Soluna and its mission to make renewable energy a global superpower, visit www.solunacomputing.com.\n\nSafe Harbor Statement\n\nThis announcement contains forward-looking statements. These statements are made under ...