Soluna has reached a final agreement to raise $32 million through a private placement according to Nasdaq rules

According to Businesswire, Soluna Holdings, a Nasdaq-listed company developing green data centers for intensive computing applications such as Bitcoin mining and artificial intelligence, announced that it has reached a definitive agreement to issue 18,079,144 shares of common stock and corresponding Series C warrants at a price of $1.77 per share, raising approximately $32 million.

The new funds will be used for operations, project equity investments, and general corporate purposes, including supporting high-performance computing applications such as Bitcoin mining and generative artificial intelligence.