Mentioned:
Galaxy Digital is providing debt financing to a publicly traded company focused on building data centres that are powered by renewable energy. But, why?
What’s happening:
- Soluna Holdings (NASDAQ: SLNH) and Galaxy Digital (TSX: GLXY) have entered into a new debt financing agreement
By the numbers:
- Galaxy Digital will lend Soluna Holdings $5M USD through debt financing
- The debt has a 5 year term and is secured against assets of Solunda Holdings’ data centre operations
Why it matters:
- Soluna Holdings is one of the leading publicly traded companies in North America focused on developing data centres that are located near renewable energy infrastructure to power high performance computing and Bitcoin mining at scale, with exceptionally low carbon emissions and very little negative environmental impact
Going deeper:
- Soluna Holdings has been quickly scaling up of late, including just recently striking a deal with digital asset mining company Bit Digital (NASDAQ: BTBT) to host Bitcoin mining hardware within one of their data centres
The intrigue:
- Galaxy Digital also notably owns the Helios data centre project in Texas, which they previously raised $300M USD for to expand its operational capacity for high performance computing and artificial intelligence workloads
