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Seeking Alpha 2022-07-05 20:19:13

Soluna Computing taps Truist Securities to assist with its growing pipeline

Soluna Computing, a subsidiary of New York-based Soluna Holdings (NASDAQ:SLNH), said Tuesday that it's tapping Truist Securities to assist with its growing pipeline of data center project opportunities.The subsidiary develops green data centers for cryptocurrency mining and other intensive computing.Moreover, the Soluna Computing "engaged Truist Securities to help us evaluate options, analyze project financials and assess how to source the right capital for our business,” said CEO John Belizaire.The move comes as crypto miners in New York are being pressured by regulators to transition to eco-friendly operations. Specifically, the state is looking to ban energy-intensive Proof-of-Work bitcoin (BTC-USD) mining amid environmental concerns, and instead use clean energy sources.Previously, (May 12) Soluna secured $35M financing to enhance green bitcoin mining initiative.

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