Soluna Holdings and Canaan Inc. Agreement
Soluna Holdings and Canaan Inc. have reached an agreement for a significant hosting project that will see the deployment of 20 megawatts worth of Avalon A15 XP bitcoin mining machines at Soluna’s Project Dorothy in Briscoe County, Texas. The announcement was made on Tuesday, detailing a venture that will enable Canaan to harness approximately 1 exahash per second (EH/s) of computational power at an eco-friendly facility dedicated to utilizing wind energy.
Project Details
This project uniquely allows the facility to draw power directly from renewable sources while maintaining a backup connection to the electrical grid to ensure continuous operation.
Installation Timeline
Installation is set to begin in the first quarter of 2026, marking a pivotal moment for both companies. For Soluna, a developer focused on sustainable data centers, this arrangement enhances the operational capacity of its Dorothy campus. Meanwhile, Canaan, which is publicly traded on Nasdaq under the ticker CAN, will increase its operational capabilities within North America with its line of Avalon miners.
Infrastructure and Trends
The modular infrastructure present at the Dorothy complex is specifically tailored for demanding energy applications, which fits perfectly with the hosting services Soluna intends to provide. This agreement follows an earlier announcement from Soluna about Galaxy Digital’s plan to deploy 48 megawatts of bitcoin mining infrastructure at Project Kati 1 in Texas, indicating a growing trend of increased mining capacity across their facilities.
Operational Efficiency and Future Vision
The Avalon A15 XP miners will be integrated into Soluna’s wind-powered setup, with both companies prioritizing operational efficiency and reliability in this collaboration. Soluna, whose stock price has recently seen volatility—down over 15% during the last week but up 422% relative to the previous month—is actively pushing towards a vision of 2.8 gigawatts in “Renewable Computing” initiatives that encompass both bitcoin mining and artificial intelligence projects.
Commitment to Renewable Energy
Both Soluna and Canaan have highlighted their commitment to renewable energy solutions, a critical element of their operational strategy as they approach the start of this exciting new phase of their partnership.
