DealsOct 21, 2026, 05:11 PM
Soluna Holdings, Applied Digital Form AI Data Center Joint Venture
AI Summary
Soluna Holdings, Inc. (SLNH) has entered into a Subscription Agreement with affiliates of Applied Digital Corporation to form a jointly owned company. This new entity will develop a 50-megawatt Critical I.T. data center for artificial intelligence and high-performance computing at Soluna's Project Dorothy 3 site in Texas. Soluna Holdings will hold a 49% stake, while Applied Digital will hold 51%. Soluna's contribution is valued at $18.75 million via a ground sublease, and Applied Digital will contribute approximately $19.52 million in cash. The transaction is expected to close by December 1, 2026.
Key Highlights
- Soluna Holdings and Applied Digital Corporation form a joint venture to develop a 50 MW Critical I.T. data center.
- Soluna Holdings will own 49% and Applied Digital will own 51% of the joint venture company, STX JV Holdings LLC.
- Soluna Holdings' contribution is valued at $18.75 million through a ground sublease.
- Applied Digital's contribution is $19.52 million in cash, subject to credits for prior development work.
- The joint venture aims to develop a data center for artificial intelligence and high-performance computing.
- The closing of the transaction is expected by December 1, 2026.
Price Impact
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