Soluna Holdings, a publicly traded Bitcoin (BTC) mining and AI infrastructure company focused on renewable energy, said it closed a $53 million acquisition of the Briscoe Wind Farm in Briscoe County, Texas, to power its upcoming Project Dorothy 3 AI data center campus. The site has potential capacity of up to 300 megawatts (MW). Soluna expects the facility to generate annualized revenue of roughly $20 million to $24.4 million. Shares rose about 7.6% on the news, trading near $0.76 at the time of reporting.
Soluna expanded into AI data center infrastructure in February 2024 amid an industry-wide shift toward AI and high-performance computing as crypto-mining revenues declined. The move follows partnerships such as the September agreement with hardware maker Canaan to deploy a wind-powered BTC mining facility at the Briscoe site.
The Bitcoin mining sector faces mounting economic pressures: declining block rewards, rising energy costs and compressing margins. A March 2026 CoinShares report found up to 20% of mining companies are unprofitable. CoinShares also reported the average cost to mine one Bitcoin rose to nearly $80,000 in Q4 2025, while Bitcoin traded well below that level. Q4 2025 was described as the most challenging quarter for miners since the April 2024 halving, with the October 2025 market crash — which saw Bitcoin fall from roughly $125,000 to about $60,000 — and a rising network hashrate adding further strain.
Miners sold more than 15,000 BTC between October and early March to cover operating expenses, with selling continuing into recent weeks. In response to the profit squeeze, several operators, including The Pheonix Group and Sangha Renewables, have adopted renewable energy solutions to stay competitive.
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