Soluna and Canaan Inc Partner to Deploy 20 MW of Next-Gen Bitcoin Miners at Wind-Powered Data Center in Texas
Strategic Deal Advances Soluna’s Texas Expansion and Supports Canaan’s North American Mining Growth
ALBANY, N.Y. and SINGAPORE, Sept. 30, 2025 /PRNewswire/ — Soluna Holdings, Inc. (“Soluna” or the “Company”) (NASDAQ: SLNH), a developer of green data centers for intensive computing applications including Bitcoin mining and AI, and Canaan Inc. (Nasdaq: CAN) (“Canaan”), an innovator in crypto mining, today announced a strategic hosting agreement to deploy 20 megawatts (MW) of Avalon® A15 XP Bitcoin miners at Soluna’s Project Dorothy in Briscoe County, Texas.
This agreement marks a significant milestone for both companies: Soluna continues to scale its pipeline of renewable-powered digital infrastructure, while Canaan strengthens its North American mining footprint with additional access to reliable, low-cost, and sustainable energy.
John Belizaire, CEO of Soluna, said:
Soluna is thrilled to develop this new partnership with an industry leader like Canaan,
“This agreement reflects our shared commitment to delivering high-performance computing solutions powered by renewable energy. With Project Dorothy 2 now online and operational, we’re doubling down on our mission to make renewable energy a global superpower.”
The parties expect to deploy the miners in the first quarter of 2026. Canaan aims to leverage Soluna’s modular and cost-efficient infrastructure to power its Avalon fleet using wind energy, further enhancing the sustainability profile of its mining operations.
Nangeng Zhang, chairman and chief executive officer of Canaan, said:
Our partnership with Soluna is another significant step in advancing our North American self-mining strategy.
“Each of the partnerships that we have entered into brings a new dimension to our efforts to expand within the region, and we are excited to work with Soluna and utilize their cutting-edge data center.The site primarily runs on behind-the-meter wind power but can also draw from the grid to ensure very high uptime. This is a unique advantage that combines reliable operations with compelling cost efficiency. Coupling our efficient and resilient Avalon® A15 XP miners with Soluna’s infrastructure should be a win for both companies.”
The 20 MW, ~1 EH/s deployment is part of a broader roadmap for both companies: Canaan aims to expand its North American presence amid growing global demand for secure and efficient blockchain infrastructure. At the same time, Soluna aims to monetize its 2.8 GW+ pipeline of Renewable Computing projects designed to support both Bitcoin mining and AI workloads.
Safe Harbor Statement by Soluna
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” and similar statements. Other examples of forward-looking statements may include, but are not limited to, statements of the Company’s plans and objectives, including with respect to Project Dorothy and the Company’s expectations with respect to the amount of renewable energy capacity Project Dorothy will deliver. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties; further information regarding which is included in the Company’s filings with the SEC. All information provided in this press release is as of the press release date, and the Company undertakes no duty to update such information, except as required under applicable law.
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Soluna and Canaan Inc Partner to Deploy 20 MW of Next-Gen Bitcoin Miners at Wind-Powered Data Center in Texas, source
