Soluna Holdings, Inc. (NASDAQ: SLNH), a developer of green data centers specializing in intensive computing applications such as Bitcoin mining and artificial intelligence (AI), announced its January 2026 project site-level operations, developments, and updates. The company’s releases included corporate highlights, operational metrics, and progress across its project portfolio.
Key corporate developments for January 2026 included a collaboration between Soluna and Siemens to address GPU power volatility in behind-the-meter AI deployments. Additionally, Soluna partnered with Metrobloks to develop over 100 MW of AI and High-Performance Computing (HPC) capacity at Project Kati 2. Michael Picchi was appointed Chief Financial Officer of Soluna, with his role commencing on April 1, 2026. Soluna’s green data center initiatives were highlighted in a Tech Brew article by Tricia Crimmins, emphasizing potential savings. CEO John Belizaire contributed to Norton Rose Fulbright’s Currents podcast, discussing curtailed power and data center design, and further elaborated on Soluna’s AI expansion plans for Project Kati 2 on the Power Mining Analysis podcast.
Regarding Bitcoin hosting projects, customer deployments for a 20 MW fleet upgrade at Project Dorothy 1A (25 MW) are underway and anticipated for completion by the end of February. Both Project Dorothy 1A and 1B (25 MW) experienced increased curtailment time during January due to recent winter storms and grid demand. Project Dorothy 2 (48 MW) maintained strong operations, with all customers at full capacity, though it also faced increased curtailment from winter storms. Project Sophie (25 MW) continued steady operations despite challenging wintry conditions.
Progress on Project Kati 1 (83 MW), a Bitcoin hosting site currently under construction, included obtaining energization approval from ERCOT. Power commissioning for K1A Galaxy Phase 1 (24 MW) has been initiated and is expected to conclude in February. K1A Galaxy Phase 2 (12 MW) is scheduled to begin power commissioning in March, with K1A Phase 3 (12 MW) following in April. Construction for K1B (35 MW), which will feature Soluna MDCs and Cormint infrastructure, is advancing, with MDC framing in progress. A new partnership was announced to install and pilot Cormint’s proprietary container design at K1B (12 MW) for the remaining capacity, with equipment delivery projected for Q2.
For AI/HPC hosting, Project Kati 2, which is under development, saw the announcement of a joint venture with Metrobloks to execute an AI plan. Engineering efforts are underway to establish a 350MW Critical IT Tier 3 AI campus across seven buildings. Soluna secured over 500 acres of additional land to support a larger campus plan for Project Kati 2. The Request for Proposals (RFP) process has been launched for 10 construction management firms, with completion expected by the end of February. Negotiations are ongoing with three potential single-tenants for pre-leasing the entire campus. Project Grace (2 MW), also under development for AI/HPC hosting, is advancing design optimization and technical validation for its microgrid electrical architecture to integrate AI loads.
In the pipeline, Soluna is finalizing Power Purchase Agreements (PPAs) and Retail Electric Provider (REP) agreements for its Ellen, Hedy, and Rosa projects. Project Annie has entered the Transmission/Distribution Service Provider (TDSP) planning queue, negating the need for the ERCOT Large Flexible Load process. A Definitive Purchase and Sale Agreement has been executed for the acquisition of 18 acres of land, and PPA negotiations are progressing for projects Annie, Gladys, and Fei.
Customer success was highlighted by the deployment of 20 MW at Project Dorothy 1A as part of an expansion by an existing customer.
