Soluna Buys Dorothy 1B as Bitcoin-to-AI Campus Conversion Advances
This article first appeared in The Energy Mag. The original article can be viewed here. Energy Mag (formerly Mining Mag) provides news, information and insights on the energy-calculation-market nexus.
The company announced Tuesday that it has purchased the remaining 49% equity interest in Project Dorothy 1B from Navitas Global for $8.8 million, giving Soluna full ownership of the 25 megawatt facility in Silverton, Texas.
The deal marks the final step in the consolidation of Soluna's Dorothy campus, following the $53 million purchase of the Briscoe Wind Farm and the earlier $16.5 million purchase of Project Dorothy 1A.
The Briscoe wind farm provides 150 megawatts of owned renewable energy, and Soluna now owns 100% of Dorothy 1A and 1B, assembling what the company describes as a fully integrated “generation-to-compute” chain of ownership at the 50-megawatt Dorothy 1 complex.
CEO John Belizaire said the latest acquisition gives Soluna more flexibility in how and when the campus transitions to an AI infrastructure.
“Completing the acquisition of Dorothy 1 is a critical step in our broader roadmap to build Dorothy 3 for AI and high-performance computing,” Belizaire said in a statement.
The Dorothy campus currently operates about 100 MW in three phases. Dorothy 1A is 25-mW. Bitcoin mining A hosting facility, Dorothy 1B operates 25 megawatts of proprietary mining. Dorothy 2 will contribute another 48 megawatts to primarily host operations, in which Spring Lane Capital remains an investor.
Earlier this month, Belizaire told TheEnergyMag that Soluna plans to move existing mining customers from Dorothy 1A to others in its portfolio as part of a long-term plan to transform its campus for AI and HPC workloads.
The company said it is “bifurcating” its operations, separating its bitcoin mining and AI infrastructure into separate sites; Future Bitcoin operations will focus on hosting rather than expanding ownership hashrate.
According to Soluna, full ownership of Dorothy 1 is necessary before Dorothy 3, the next phase of the complex, can be marketed to AI tenants. The company is actively evaluating opportunities related to Dorothy 2 as part of its broader campus strategy.
The transaction was funded entirely by cash on the balance sheet and closed on May 19.
The move comes as a growing number of bitcoin miners look to power infrastructure for AI and high-performance computing under pressure on mining profitability. Industry prices have remained at historically tight levels in recent months, pushing operators to seek more stable and long-term revenue streams tied to AI workloads.
Soluna's extensive development pipeline currently exceeds 4.3 gigawatts, including more than 1 gigawatt of projects in development, construction and operation.
This article first appeared in The Energy Mag. The original article can be viewed here. Energy Mag (formerly Mining Mag) provides news, information and insights on the energy-calculation-market nexus.
