- Soluna Computing, a subsidiary of New York-based Soluna Holdings ( NASDAQ: SLNH ), said Tuesday that it's tapping Truist Securities to assist with its growing pipeline of data center project opportunities .
- The subsidiary develops green data centers for cryptocurrency mining and other intensive computing.
- Moreover, the Soluna Computing "engaged Truist Securities to help us evaluate options, analyze project financials and assess how to source the right capital for our business,” said CEO John Belizaire.
- The move comes as crypto miners in New York are being pressured by regulators to transition to eco-friendly operations. Specifically, the state is looking to ban energy-intensive Proof-of-Work bitcoin ( BTC-USD ) mining amid environmental concerns, and instead use clean energy sources.
- Previously, (May 12) Soluna secured $35M financing to enhance green bitcoin mining initiative .
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Soluna Computing taps Truist Securities to assist with its growing pipeline