Soluna Holdings to Buy Project Dorothy 1B in Asset Deal
The acquisition completes Soluna’s vertical integration of the Dorothy campus, positioning the company to accelerate its AI campus expansion.
**Soluna Holdings (SLNH) agreed to acquire Project Dorothy 1B**, an asset-purchase transaction that consolidates the company’s control over the Dorothy campus in Silverton, Texas. The deal strengthens Soluna’s position to advance the development of Project Dorothy 3, a planned AI campus expansion adjacent to the existing site.
The acquisition of Project Dorothy 1B follows Soluna’s recent $16.5 million purchase of the remaining equity in Project Dorothy 1A, completed in April 2026. With the Briscoe Wind Farm—acquired for $53 million in the same month—now fully owned, Soluna has achieved vertical integration of the Dorothy campus, controlling both the renewable energy source and the data center infrastructure. The company previously held a minority stake in Project Dorothy 1B through a hosting partnership with Sazmining, which launched a 3 MW Bitcoin mining operation at the site earlier this year.
Soluna’s strategic rationale centers on accelerating the transition of the Dorothy campus to AI workloads. The company said the acquisition of Project Dorothy 1B would enable it to convert existing infrastructure to support AI computing, aligning with its broader push to develop Dorothy 3, a 300 MW renewable-powered AI campus. John Belizaire, CEO of Soluna, said, *“With Briscoe secured and Dorothy 1A now fully owned, we have the foundation for what comes next: a vertically integrated AI campus, from energy generation to compute infrastructure, that we control end to end”*.
Project Dorothy 1B is a 25 MW facility currently used for Bitcoin mining, with a portion of its capacity allocated to proprietary mining operations and the remainder to hosting partners. The site is part of Soluna’s broader portfolio of green data centers, which are co-located with renewable energy assets to support high-performance computing applications, including Bitcoin mining and AI. The Dorothy campus, named after mathematician Dorothy Vaughan, has been a focal point of Soluna’s expansion strategy, with the company previously breaking ground on Project Dorothy 2, a 48 MW Bitcoin hosting facility.
The acquisition of Project Dorothy 1B mirrors Soluna’s earlier consolidation of Project Dorothy 1A, a $16.5 million deal that gave the company full equity ownership of the site. That transaction was financed through a mix of cash and debt, including a $12 million unsecured promissory note maturing in May 2027. The Briscoe Wind Farm acquisition, which closed in April 2026, was similarly structured, with Soluna projecting Year-One Adjusted EBITDA of $6 million to $11 million from the asset.
The deal is expected to close in the coming weeks, subject to customary closing conditions. Soluna said the acquisition would further its goal of bringing new equity partners onto the Dorothy campus on terms aligned with its AI-first strategy. The company has previously signaled its intent to monetize portions of its development pipeline through partnerships, while retaining control of core infrastructure.