Soluna Holdings, a public company focused on Bitcoin mining and AI infrastructure powered by renewables, said it has closed on a $53 million purchase of the Briscoe Wind Farm in Briscoe County, Texas. The wind site will supply power for the company’s planned Project Dorothy 3 AI data center campus and could support up to 300 megawatts (MW) of capacity. Soluna estimates the facility could produce annualized revenue in the range of about $20 million to $24.4 million. The announcement lifted Soluna’s shares roughly 7.6%, trading near $0.76 at the time of the report.
The acquisition follows Soluna’s strategic pivot into AI data center infrastructure in February 2024, a shift driven by an industry-wide move toward high-performance computing as traditional crypto-mining revenues weakened. The company has also pursued partnerships tied to Briscoe: in September it struck a deal with hardware maker Canaan to deploy a wind-powered Bitcoin-mining operation at the site.
The broader Bitcoin mining sector has been under growing economic pressure from shrinking block rewards, rising energy costs and tightening margins. A CoinShares report in March 2026 found as many as 20% of miners may be operating at a loss. That report estimated the average cost to mine one Bitcoin climbed to nearly $80,000 in Q4 2025, while market prices were substantially lower. Q4 2025 was characterized as the toughest quarter for miners since the April 2024 halving, a period exacerbated by an October 2025 market crash that sent Bitcoin from roughly $125,000 to about $60,000 and by a rising network hashrate.
To cover operating expenses, miners sold more than 15,000 BTC between October and early March, and selling has continued into recent weeks. In response to the profitability squeeze, several operators — including The Pheonix Group and Sangha Renewables — have adopted renewable energy strategies to improve competitiveness and reduce operating costs.
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