Bitcoin miner Soluna Holdings scales AI operations, invests $53 mln in ‘Project Dorothy’
Soluna Holdings, a inexperienced Bitcoin mining agency, has acquired a West Texas-based Biscoe wind farm for $53M to scale its vertical integration.
The miner reported that this was a part of its ‘Venture Dorothy,’ which goals to assist enhance its renewable power sources and inexperienced information facilities. The transfer is anticipated to generate $20 million to $24.4 million in annual income.
Since final September, Soluna has been mining a mean of 9 BTC per 30 days. Other than BTC mining operations and AI information facilities, Soluna additionally gives internet hosting providers to different miners.
Apparently, AI information facilities have turn out to be a brand new lifeline for many public BTC miners. Apart from Soluna, different gamers are doubling down on the AI pivot.
Some, like Bitdeer, offered their whole BTC stash and pivoted to AI. Likewise, Core Scientific, MARA, Bitfarms, and others proceed to monetize holdings to prioritize AI infrastructure ventures.
Shrinking Bitcoin miner income fuels AI pivot
The AI pivot has accelerated as BTC dropped by half from over $126K to beneath $65K prior to now few months.
Notably, the 2024 halving slashed miner rewards by half to three.125 BTC. Within the subsequent 2028 halving, the block rewards will drop additional to 1.5625 BTC; therefore, miner income might shrink additional if Bitcoin transactions don’t enhance.
As of early Q2 2026, the entire every day miner income was $32 million, translating to a 50% drop from the H2 2025 excessive of practically $60 million.
Whereas this was a slight reduction from the current low of $29M seen in mid-March, the sub-sector was not out of the woods simply but.
The miner misery or capitulation, the place miners flip off machines and promote BTC reserves as a result of they’re unable to cowl working prices, is again once more.
The misery was extra pronounced in late November after the BTC worth slipped beneath $90K. That is tracked by the Hash Ribbon metric (shaded areas).
Final month, there was a reduction as BTC tried breaking out from the $60K-$75K vary. Nonetheless, the current pullback has flagged the miner misery once more. If it deepens, the potential miner sell-off might delay BTC restoration.
Closing Abstract
- Soluna Holdings has acquired the Texas-based Briscoe wind farm, opening up a possible $24 million in annual income to scale BTC mining and AI information middle operations.
- BTC miner misery was again as BTC struggled to carry above $65K in early April.
