Green Sata Center Developer Soluna Secures $25M Growth Capital Line

📅 September 10, 2024 - Soluna Holdings, a developer of green data centers for high-performance computing applications including artificial intelligence (AI) and bitcoin, has secured a $25 million growth capital line through a standby equity purchase agreement (SEPA) with Yorkville Advisors Global.

This funding will be used to support ongoing green data center projects, retire convertible notes, and stabilize the companys balance sheet. The initial $10 million draw from the agreement will be allocated to both data center development and the repayment of convertible notes.

The funding positions Soluna to expand its business and support critical projects, particularly in the AI and cloud computing sectors. [...][... Check source for end of article ...]

Tags: AI

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