Soluna Raised About $2M In An Equity Sale

Cryptocurrency mining data center company Soluna collapses after raising capital

According to an announcement on its website Soluna announced the sale of 1,388,889 shares at $1.44 per share, raising about $2 million.

Shares of Soluna Holdings (SLNH) fell 43% to $1.03 early Monday following the company’s Friday night secondary offering announcement. The stock is now 90% lower as of now.

It they plan to use the proceeds to acquire, develop and grow data centers, including cryptocurrency mining processors, other computer processing equipment, data storage, electrical infrastructure, software, physical and business assets, including but not limited to its development site in Texas, and for general corporate purposes.

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