Soluna Announces $53M Acquisition of Wind Farm for AI Facility

Soluna Holdings, a publicly traded Bitcoin (

Soluna expanded into AI data center infrastructure in February 2024, amid an industry-wide pivot toward AI and high-performance computing infrastructure to shore up declining revenues from the crypto mining business.

Miners adopt renewable energy solutions amid profit squeeze

The Bitcoin mining industry faces several economic headwinds, including declining block rewards, rising energy costs and compressing profit margins, with many companies operating near or below breakeven levels.

Up to 20% of mining companies aren’t profitable, according to a March 2026 report from asset manager CoinShares.

The average cost to mine a single Bitcoin rose to nearly $80,000 in the fourth quarter of 2025, CoinShares said. Bitcoin is currently trading well below that level.

Mining, Bitcoin Mining, Energy, Data Center, Renewable Energy — *The average cost to mine a single BTC for major mining companies. Source:* *CoinShares*

“Q4 2025 marked the most challenging quarter for Bitcoin miners since the April 2024 halving,” the report said.

The October 2025 market crash, which caused Bitcoin to plummet from an all-time high around the $125,000 level to a low of about $60,000, and rising network hashrate have placed even more pressure on the industry, CoinShares said.

Bitcoin mining companies sold over 15,000 BTC between October and early March to cover operating expenses, and the pace of selling has continued in recent weeks.

Several Bitcoin mining companies, including The Pheonix Group and Sangha Renewables, have adopted renewable energy solutions to power their operations and remain competitive amid a challenging business environment.

Canaan, a mining hardware manufacturer and mining company, partnered with Soluna in September to deploy a wind-powered BTC mining facility at the Briscoe, Texas site.