Soluna Holdings, a publicly traded Bitcoin mining and AI infrastructure company focused on renewable energy, has closed a $53 million acquisition of a wind farm in Briscoe County, Texas. The purchase is intended to supply power to the company’s upcoming Project Dorothy 3 AI data center campus. Shares of Soluna rose approximately 7.6% following the announcement, trading at around $0.76.
The Briscoe Wind Farm carries a potential capacity of up to 300 megawatts, according to the company. Soluna forecasts the facility will generate annualized revenue of between $20 million and $24.4 million. The acquisition marks a significant step in the company’s broader infrastructure expansion strategy.
Soluna moved into AI data center infrastructure in February 2024, joining an industry-wide shift toward high-performance computing as revenues from cryptocurrency mining came under pressure. The transition reflects a wider trend among mining firms seeking to diversify their operations amid deteriorating economics in the Bitcoin mining sector. The company had previously partnered with mining hardware manufacturer Canaan in September to deploy a wind-powered Bitcoin mining facility at the same Briscoe, Texas location.
The Bitcoin mining industry is contending with a range of economic challenges, including declining block rewards, rising energy costs, and shrinking profit margins. A March 2026 report from asset manager CoinShares found that up to 20% of mining companies are currently unprofitable. The average cost to mine a single Bitcoin climbed to nearly $80,000 in the fourth quarter of 2025, a level above which Bitcoin has recently been trading.
CoinShares described the fourth quarter of 2025 as the most difficult period for Bitcoin miners since the April 2024 halving. A market crash in October 2025 sent Bitcoin’s price from an all-time high of around $125,000 down to approximately $60,000, compounding pressure on the sector. A rising network hashrate has further squeezed margins across the industry.
In response to mounting costs, Bitcoin mining companies collectively sold more than 15,000 BTC between October and early March to cover operating expenses, with selling activity continuing in recent weeks. Several firms, including The Phoenix Group and Sangha Renewables, have turned to renewable energy solutions in an effort to reduce costs and remain competitive. Soluna’s wind farm acquisition positions the company within this broader push toward sustainable energy sourcing.
Originally reported by CoinTelegraph.
