Enhanced Financing to Accelerate Growth of Scalable, Sustainable Enterprise Computing Solutions
Soluna Holdings, a developer of green data centers for intensive computing applications including Bitcoin mining and AI, announced its subsidiary, Soluna Cloud, has raised additional funding to increase its new credit facility by $1.25 million, bringing the total to $13.75 million for its AI business. The Company was advised in this follow-on round of financing by BitOoda Technologies and Imperial Capital.
Also Read: CHAI, Generative AI Startup in Palo Alto, Sees Strong Growth Through User Generated AI Content
“We are grateful for the support of our new and existing investors, and we are excited to drive forward with our mission to deliver environmentally responsible computing solutions to enterprises”
This additional funding will be instrumental in advancing Soluna Cloud’s growth initiatives, enabling the Company to continue its innovative approach to sustainable AI clouds and meet the increasing demand for renewable-energy-powered, high-performance computing solutions.
“We are grateful for the support of our new and existing investors, and we are excited to drive forward with our mission to deliver environmentally responsible computing solutions to enterprises,” said John Belizaire, CEO of Soluna Holdings.
The convergence of AI and renewable energy positions Soluna Cloud at the forefront of solving the world’s wasted energy problems while delivering cutting-edge AI solutions.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.
Also Read: Survey Reveals Only 20 Percent of Senior IT Leaders Are Using Generative AI in Production
[To share your insights with us as part of editorial or sponsored content, please write to psen@itechseries.com]
Comments are closed.