Soluna Holdings Inc. (NASDAQ:SLNH) is one of the best penny stocks under $1 to buy right now. On February 17, Soluna Holdings announced a six-megawatt expansion of its partnership with Blockware at the Project Dorothy 1 site in West Texas. This development marks the third time the two companies expanded their collaboration, highlighting a successful model of scaling HPC within existing renewable-powered infrastructure. Deployment for this new capacity commenced in January and is on schedule to reach full completion by the end of February.
The partnership focuses on using behind-the-meter digital infrastructure to convert excess renewable energy into power for intensive computing applications like Bitcoin mining and AI. By expanding within an established facility, Soluna is able to support Blockware’s growth with minimal capital friction while improving the efficiency of the site.
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Soluna’s broader strategy involves a 1 GW+ pipeline of these renewable-first data centers, which are designed to use energy that would otherwise be wasted due to grid curtailment. Soluna CEO noted that repeat business from partners like Blockware validates their operational model and infrastructure reliability. Blockware CEO echoed this sentiment and cited Soluna’s proven track record for uptime and performance in a renewable-powered environment as the primary reason for their ongoing commitment to the site.
Soluna Holdings Inc. (NASDAQ:SLNH), together with its subsidiaries, mines cryptocurrency through data centres. It operates through three segments: Cryptocurrency Mining, Data Center Hosting, and HPC Services.
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