Cryptocurrency mining company Soluna receives a $12 million equity investment from Navitas Global

ChainCatcher news, encrypted mining data center Soluna Holdings has secured $14 million in funding from private data center development company Navitas Global to complete the development of the Texas Dorothy 1B project. The deal includes a $2 million loan to finish the construction of a 25 megawatt (MW) site, as well as a $12 million equity investment. Soluna will provide operational and maintenance expertise and will retain 51% ownership of the project. This transaction will help Soluna achieve positive cash flow in the second half of this year.

As a result of this news, Soluna Holdings (SLNH) saw its stock price rise by about 12% yesterday. (source link)