PANews reported on July 22 that according to Business Wire , Soluna Holdings, a Nasdaq-listed company that develops green data centers for intensive computing applications such as Bitcoin mining and artificial intelligence, announced the completion of a new round of financing of US$ 20 million, with Spring Lane Capital participating. The new funds will be used to expand the Kati green data center project in Texas and further expand its Bitcoin hosting business. The project is scheduled to start construction in the third quarter of 2025 and achieve initial power supply and business start-up in the first quarter of 2026 .