Soluna Holdings is asking shareholders to vote on October 16 to increase authorized shares to 1 billion and allow issuance of more than 20% of outstanding shares under a standby equity agreement with YA II PN. These proposals would unlock access to a 250 million dollar equity facility but would dilute earnings per share and voting power for existing investors. The company currently operates only 192 MW out of a 6.3 GW pipeline, representing approximately 3% of its development pipeline. Among ongoing projects, Soluna acquired the 150 MW Briscoe Wind Farm for 53 million dollars and is developing Project Dorothy 3 in Texas, an AI and high-performance computing campus with potential capacity exceeding 300 MW. The company also signed an agreement with Bitdeer to deploy 28 MW of Bitcoin mining equipment at Project Kati 1.
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