Soluna Holdings – a developer of green data centers for intensive computing applications, including Bitcoin mining and AI – announced that it has successfully closed a $5 million loan facility with Galaxy Digital, a financial services and investment management innovator in the digital asset and blockchain technology sectors.
This loan will have a five-year term. It is secured, with limited recourse to the parent company, showing the strength of project-level standalone cash flows and the ability to attract institutional financing. And 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.
Nixon Peabody acted as legal counsel to the Company. Orrick, Herrington & Sutcliffe LLP acted as legal counsel to Galaxy Digital.
KEY QUOTES:
“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. 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.”
– John Belizaire, CEO of Soluna Holdings
“We’re excited to support Soluna with this financing. 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.”
– Max Bareiss, Head of Lending at Galaxy
