Soluna and Applied Digital to build wind-powered AI data center in Texas

what happened

Soluna Holdings (Nasdaq: SLNH) has signed a definitive agreement with Applied Digital Corporation to create a jointly owned company that will build a planned 50 MW critical IT data center for AI and high-performance computing at Project Dorothy 3 in Briscoe County, Texas. Applied would hold 51% of the venture and Soluna 49%. Soluna will contribute part of the site with land and power assets, while Applied provides the funding.

The facility would draw power from the nearby 150 MW Briscoe Wind Farm and from the grid. ChronoScale Holdings (Nasdaq: CHRN), a compute platform majority-owned by Applied, has signed a non-binding letter of intent to lease the building, but no final lease exists yet. Completion depends on a county tax abatement, title policies, corporate approvals and final documents, with closing targeted for year-end.

Source: TradingView, citing a PR Newswire release.

why it matters

For energy markets, the deal is another sign that demand from AI computing is increasingly being tied to wind and grid generation. The price impact is limited for now, since the project is still in the planning stage and hinges on several conditions. The key milestones are the tax abatement decision and a final lease, which will determine whether the plan turns into revenue.

market impact

SLNH, APLD and CHRN shares: a new source of demand for Texas wind power, with limited near-term market effect

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