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Great interview today with @jbelizaireCEO of @SolunaHoldings updating on Kati 2 LOI and the new CDO appointment! Make sure you don't miss out on this one!!!🔥🔥🔥 $SLNH youtube.com/watch?v=kmiof2…

$SLNH Soluna Enters Exclusive Talks on 100MW Kati 2 AI Lease (Part 1 of 8) @SolunaHoldings has entered exclusive commercial negotiations with a prospective tenant for the first 100 MW phase of its Kati AI data-center campus, @jbelizaireCEO said in an interview with McNallie Money. The agreement follows roughly 6 months of discussions & due diligence during H1 2026. The customer’s power & operations teams are now participating in the design review after Kati 2 reached about 50% design completion. “The goal is to exit that with 100 MW of lease in a Phase 1 footprint,” Belizaire said. A definitive lease would give Soluna the commercial basis to complete project financing and move toward construction. The prospective tenant is also evaluating how quickly it could expand beyond the initial 100 MW. The LOI includes exclusivity, narrowing the process from discussions with several interested parties to formal negotiations with one selected counterparty. “To reach the LOI is really a material shift to those conversations – to trying to get a deal done,” Belizaire said. The customer is reviewing the project’s electrical architecture, data-hall configuration, cooling, network design, battery system and ability to support current and future generations of graphics-processing units. Its involvement allows Soluna to shape the first phase around a specific operating profile rather than finish a generic design and seek customer approval later. Kati 2 is being planned as an expandable campus, not a stand-alone 100 MW facility. The tenant wants visibility into later phases, additional power & whether the site can support more buildings without a major redesign. That expansion path could let the customer add capacity at one location while giving Soluna the opportunity to build a larger relationship beyond Phase 1. Soluna is evaluating the customer on more than headline rent. Management is weighing technical compatibility, credit quality, contractual support & whether the lease can support project-level financing. Kati 2 is expected to combine renewable generation, grid access, battery storage & potentially on-site gas generation. “The best customer is an educated customer that understands the power design and can fit within this environment,” Belizaire said. The customer’s financial strength will influence how much debt the project can support, how much equity Soluna and its partners must contribute and the overall cost of capital. A lower lease rate from a stronger, more bankable tenant may therefore be more valuable than a higher rate from a weaker counterparty. Stronger credit can increase debt capacity, reduce the equity requirement and accelerate financial close. A higher-paying but less secure tenant may create greater financing risk and require more expensive capital. The planned battery system is also part of the tenant’s technical review. Soluna is evaluating it for power smoothing, short-duration ride-through & management of rapid changes in GPU demand, in addition to potential backup capacity. Legal teams are working on the lease while the technical review continues. The agreement is expected to address pricing, duration, delivery milestones, service levels, expansion rights and credit support. Belizaire said the negotiations would keep the company occupied over the coming weeks, without providing a signing timetable. Before the LOI, Soluna had assembled the project’s principal components: site control, power, an advancing design, a selected general contractor and interest from multiple potential tenants. The current process is different. Soluna is now developing the 1st phase around one customer while negotiating the contract required to finance and build it. The intended progression is: Definitive lease → project financing → construction → operating AI capacity.

$SLNH Eight Themes From John Belizaire’s Latest McNallie Money Interview Yesterday, @McnallieM published a wide-ranging interview with Soluna Holdings @jbelizaireCEO The Kati 2 LOI was the headline, but the interview covered much more than one potential tenant agreement. Belizaire discussed the technical work now taking place behind the scenes, how Soluna is evaluating customers and financing structures, the role of Metrobloks, the buildout of the internal AI/HPC organization, accelerating demand for Dorothy 3, Briscoe Wind Farm and the company’s next stage of institutional development. Rather than compressing the entire interview into one summary, I will break it down into eight separate posts, with each part focused on one area of the investment case: 1. The Kati 2 LOI and the path toward a 100 MW tenant lease 2. The parallel development work across land, power, permitting, gas, battery storage and fiber 3. Kati 1’s strategic flexibility and Soluna’s ability to redirect power toward AI 4. Metrobloks’ economic role and the buildout of Soluna’s internal AI/HPC organization 5. The increase in demand for Dorothy 3 and the remaining capacity at Kati 2 6. The economics of the first AI agreement and how a lease could materially change Soluna’s asset value 7. Why Ryan Carver chose Soluna, what his Microsoft experience adds and how he views the company’s potential 8. Briscoe Wind Farm, additional power acquisitions, institutional investors and Soluna’s first formal earnings call There was a significant amount of new detail in this interview. Some of it confirms what Soluna has already communicated, while other comments provide a clearer view of how the different parts of the strategy are beginning to connect. The first post will focus on the Kati 2 LOI, the exclusivity period and what must happen for the current process to become a definitive 100 MW lease. Stay tuned!

Today, Soluna welcomes Ryan Carver as Chief Development Officer. Ryan joins from Microsoft, where he led AI construction and site development for some of the world’s largest, most advanced hyperscale data center campuses. He’ll lead Soluna’s AI/HPC data center platform as we continue building sustainable, scalable infrastructure powered by renewable energy. Read more: solunacomputing.com/news/ryan-carv… #AI #DataCenters #RenewableEnergy

Today, TeraWulf announced two strategic transactions that significantly advance our AI infrastructure strategy: 👉 A 20-year lease with @AnthropicAI at our Justified Data Campus 👉 The sale of our 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by @fluidstack Together, these transactions create long-duration contracted revenue, recycle capital into wholly owned AI infrastructure, and further align our business around owning and operating the critical infrastructure that powers AI. Keep reading 👇