Soluna Forms JV with Metrobloks for 350+ MW Kati 2 Data Center
Soluna Holdings, Inc. announced a definitive joint venture agreement with DC Kati Venture LLC (Metrobloks Member) to develop and operate the multi-phase 350+ MW Project Kati 2 data center in Willacy County, Texas. Soluna contributed $3.5 million in operating expenses and committed an additional $19.0 million for Phase II property acquisition, holding 100% of Class A Interests and serving as manager. The company also reported strong Q1 2026 results with revenue up 58% year-over-year and Bitcoin hosting revenue up 178%, alongside achieving a record hash rate and 147 MW under management. Additionally, Soluna acquired full ownership of Project Dorothy 1B, signed a definitive purchase agreement for Project Dorothy 3, and provided updates on other projects like Kati 1 and Annie.
Key Highlights
- Soluna formed a definitive joint venture with Metrobloks for the 350+ MW Project Kati 2 data center development.
- Soluna contributed $3.5 million in operating expenses and committed $19.0 million for Phase II property acquisition.
- Soluna holds 100% of Class A Interests and serves as the manager of the Joint Venture.
- Q1 2026 revenue increased 58% year-over-year, with Bitcoin hosting revenue up 178% year-over-year.
- The company achieved a record hash rate and 147 MW under management.
- Soluna acquired full ownership of Project Dorothy 1B, consolidating the Dorothy 1 campus.
- A definitive purchase agreement was signed for 300 acres for Project Dorothy 3 (300+ MW AI/HPC hosting).
- Project Kati 1 construction saw 12 MW Cormint Containers substantially completed and 9 MW Soluna MDCs mechanically completed.
Price Impact
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