Soluna secures $20M+ from Spring Lane for 35MW Project Kati 1A; construction Q3 2025

Soluna Holdings, Inc

Spring Lane Capital commits at least $20M in project-level financing for Soluna's 35MW phase of Project Kati (Kati 1A) in Texas.
Parties signed agreement for up to $100M in additional project-level capital for Soluna's pipeline, subject to conditions.
Project Kati 1 already has ERCOT approvals; construction starts Q3 2025, energization target Q1 2026; designed for ~12,000 Bitcoin mining rigs.
Spring Lane also providing up to $4M in Development Expenditure (DevEx) financing for long-lead equipment from Fund II.

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