Cryptomine and HPC data center developer Soluna has announced a 3.3MW hosting partnership with KULR Technology at its Project Sophie facility in Kentucky.

KULR is a Bitcoin treasury company with a portfolio that includes a range of emergent technologies, including AI robotics. The company recently committed 90 percent of its cash reserves to Bitcoin.

Under this Bitcoin mining lease structure, Soluna will offer 3.3MW of Bitcoin mining capacity at its Kentucky site. KULR will purchase the relevant mining hardware, and Soluna will guarantee preset hashrate and uptime targets. The project is expected to achieve full energization by Q4 of 2025.

John Belizaire, CEO of Soluna, highlighted the first-time nature of working alongside a treasury company, noting the evolving demand for such arrangements.

Belizaire said: “This partnership represents a new chapter in how we serve the market. Treasury companies like KULR are increasingly seeking sustainable, high-performance computing infrastructure to diversify their digital asset strategies. We’re proud to pioneer a flexible hosting model that meets this evolving demand,” said Belizaire.

Michael Mo, CEO of KULR Technology Group, added: “This collaboration supports KULR’s commitment to strategic innovation in digital asset management. Partnering with Soluna allows us to engage in Bitcoin mining through a renewable, reliable, and operationally efficient framework."

“This is only the beginning, Mo continued, adding: “As KULR expands beyond Bitcoin mining and migrates into Battery Backup Unit (‘BBU’) solutions, Soluna stands out as the ideal partner for future projects focused on sustainable, low-cost AI data center hosting powered by stranded renewable energy,” he said.

Project Sophie went live in 2021, offering 25MW of capacity. The site is among 12 mining sites that the company is either operating, constructing, or developing, including three ‘Dorothy’ sites, of which Dorothy 1A and 1B are already operational. Dorothy 2 is currently under construction.

The company states that when all sites are operational, they will combine for a total of 1GW of data center capacity, and claims a long-term pipeline totaling 19 projects and up to 2.8GW of capacity.

Earlier this month, Soluna regained its Nasdaq listing after being threatened with de-listing due to falling share prices.

In the same month, Soluna announced a partnership with Canaan Inc for a 20MW Bitcoin mining site in Briscoe County, Texas.