Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 291

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 291
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 into 166 MW (broken out in 2 phases) of data
centers for HPC, Bitcoin Hosting and other computing-intensive applications. It is co-located with a 272.6MW wind farm. We have completed
the necessary studies for the ERCOT planning phase, which is the last formal step to secure approvals by regulatory agencies or grid
operators, such as ERCOT in Texas, to proceed with project construction and commissioning. We have completed the necessary amendments
to the interconnection agreements with American Electric Power, the transmission service provider. We have secured land, contingent on
reaching final agreement with local government and schools regarding taxation, for the project and have started capital formation activities.
On July 22, 2025, we finalized a contribution agreement from SLC for the first 35 MW of the 83 MW phase of Kati 1 with the goal of achieving
initial energization by the first quarter of 2026. On September 18, 2025, we held a groundbreaking ceremony and officially began
construction of Project Kati in Willacy County Texas. Project Kati is designed as a two-phase buildout: Kati 1 (83MW) is dedicated to
Bitcoin hosting with Galaxy Digital as the first customer already secured, while Kati 2 (83MW) will expand the site to support AI and
high-performance computing (HPC) infrastructure.

Project
Rosa

We
are developing Project Rosa in Snyder, Texas, which is expected to be up to 187 MW of data center capacity for AI and Bitcoin Hosting
and other computing-intensive applications. It will be co-located with a 242.5 MW wind farm. We have signed term sheets for both power
and land purchase agreements in connection with this project.

48

Project
Hedy

We
have signed a term sheet for power for Project Hedy, a new 120 MW data center co-located with a 200 MW wind farm in South Texas. The
wind farm is owned by a new power partner–a multinational conglomerate that focuses on developing and managing sustainable infrastructure
solutions, with a strong emphasis on renewable energy, water management, and services, aiming to contribute to a low-carbon economy and
a better planet.

Project
Ellen

We
have signed a term sheet for power for Project Ellen, a new 100 MW data center co-located with a 145 MW wind farm in South Texas. The
wind farm is owned by a new power partner