Soluna Finalizes 350MW Kati 2 Data Center JV with $24.5M Commitment, Regains Nasdaq Compliance
SLNH has more than doubled off its 52-week low of $0.415.
Summary
Soluna Holdings has entered into a definitive joint venture agreement for its 350MW Project Kati 2 data center, committing $24.5 million, and announced it has regained compliance with Nasdaq listing requirements.
Key Events · Financing and Capital Events · SLNH
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Definitive Joint Venture for Project Kati 2
Soluna entered into a definitive joint venture agreement with Metrobloks for the multi-phase Project Kati 2 data center in Willacy County, Texas, which will develop 350 MW of critical IT data center capacity. This replaces a previously announced non-binding Memorandum of Understanding (MOU).
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Significant Capital Commitment
Soluna committed approximately $24.5 million to the Project Kati 2 joint venture, including $3.5 million for initial operating expenses, $19.0 million for the acquisition of Phase II property, and up to $2.0 million for additional operating expenses.
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Regains Nasdaq Compliance
The company announced it has regained compliance with Nasdaq listing requirements, addressing the notice received on April 14, 2026, regarding its failure to maintain the minimum $1.00 bid price.
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Operational Progress Across Projects
The filing also provided updates on Project Kati 2 (initial design, RFP launched, tenant due diligence), Project Dorothy 3 (definitive land purchase agreement, due diligence underway), and Project Annie (74MW Bitcoin hosting site development commenced).
Analysis · SLNH · Crypto Assets
This filing details a major strategic step for Soluna Holdings, solidifying its commitment to the large-scale Project Kati 2 data center through a definitive joint venture agreement and a substantial capital commitment of $24.5 million. This investment, representing over 11% of the company's market capitalization, is critical for advancing its AI/HPC hosting capabilities. Concurrently, the company announced it has regained compliance with Nasdaq listing requirements, removing a significant overhang from a previous delisting notice. These developments, coupled with ongoing progress across other key projects, indicate a strong push in its strategic growth initiatives and a reduction in compliance risk.
At the time of this filing, SLNH was trading at $1.42 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $216.1M. The 52-week trading range was $0.42 to $5.14. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.