Soluna Holdings, Inc. (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, has announced a new hosting partnership with KULR Technology Group, Inc. (NYSE American: KULR), a Bitcoin+ treasury company, to operate approximately 3.3 MW of Bitcoin mining capacity at Soluna’s Project Sophie facility in Kentucky. This collaboration marks Soluna’s first partnership with a Bitcoin treasury-focused company, broadening its customer base beyond traditional Bitcoin miners and hyperscalers.
John Belizaire, CEO of Soluna, stated that this partnership represents a new chapter in how the company serves the market. He noted that treasury companies like KULR are increasingly seeking sustainable, high-performance computing infrastructure to diversify their digital asset strategies, and Soluna is pioneering a flexible hosting model to meet this evolving demand.
This agreement aligns with Soluna’s strategy to adapt its renewable-powered hosting model to meet the developing demands of Bitcoin mining and adjacent industries. Michael Mo, CEO of KULR Technology Group, commented that the collaboration supports KULR’s commitment to strategic innovation in digital asset management. He added that partnering with Soluna allows KULR to engage in Bitcoin mining through a renewable, reliable, and operationally efficient framework.
Mo also indicated that this partnership is foundational, as KULR expands beyond Bitcoin mining into Battery Backup Unit (BBU) solutions, with Soluna being an ideal partner for future projects focused on sustainable, low-cost AI data center hosting powered by stranded renewable energy. According to Custom Market Insights, the global BBU Market is projected to grow from 29.22 billion USD in 2025 to 43.64 billion USD by 2034.
The 3.3 MW deployment at Project Sophie is expected to commence operations in Q4 2025. Under the terms of the partnership, KULR will utilize Soluna’s operational and market expertise for the purchase, servicing, and management of its mining hardware over the contract’s duration. Through a new “Bitcoin Mining Lease” structure, Soluna will deliver guaranteed hashrate and uptime targets to KULR on a daily and monthly basis.
This model is designed to offer companies exploring Bitcoin as part of their treasury strategy a mutually beneficial pathway to guaranteed hashrate without the operational complexities of mining. The partnership supports KULR’s Bitcoin Treasury Accumulation Strategy, which was announced earlier this year, committing up to 90% of its surplus cash reserves to Bitcoin. Soluna’s new hosting framework aims to enable Bitcoin+ companies like KULR to leverage Bitcoin mining benefits while mitigating challenges related to market volatility and traditional infrastructure limitations.
Soluna Holdings, Inc. designs, develops, and operates digital infrastructure that converts surplus renewable energy into global computing resources. Its data centers are co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining and Generative AI. KULR Technology Group, Inc. is a Bitcoin+ Treasury company that builds a portfolio of frontier technology businesses, including high-performance energy systems and AI Robotics, and has included bitcoin as a primary asset in its treasury program since late 2024.
