Soluna Holdings and KULR Technology Group Forge Innovative Hosting Partnership

On October 9, 2025, Soluna Holdings, Inc. (NASDAQ: SLNH), a leading developer of green data centers, announced a transformative hosting partnership with KULR Technology Group, Inc. (NYSE American: KULR), marking a significant milestone in the realm of Bitcoin mining and digital asset management. This collaboration will see Soluna operate approximately 3.3 megawatts (MW) of Bitcoin mining capacity at its Project Sophie facility in Kentucky, positioning both companies at the forefront of sustainable computing solutions.

This partnership is noteworthy as it represents Soluna's first foray into working with a Bitcoin treasury-focused company, thereby broadening its customer base beyond the realms of traditional Bitcoin miners and hyperscalers. John Belizaire, CEO of Soluna, emphasized the importance of this collaboration, stating, "Treasury companies like KULR are increasingly seeking sustainable, high-performance computing infrastructure to diversify their digital asset strategies."

The agreement underscores Soluna’s commitment to adapting its renewable-powered hosting model to meet the evolving demands of Bitcoin mining and related industries. This strategic pivot aims to provide companies with a reliable and efficient digital asset management framework.

KULR Technology Group, known for its focus on frontier technologies, is leveraging this partnership to enhance its Bitcoin mining capabilities. CEO Michael Mo remarked, "This collaboration supports KULR’s commitment to strategic innovation in digital asset management." He highlighted that partnering with Soluna enables KULR to engage in Bitcoin mining through a renewable, reliable, and operationally efficient framework.

Mo further indicated that this partnership is just the beginning, as KULR seeks to expand its operations into Battery Backup Unit (BBU) solutions, an area projected to grow significantly, as evidenced by a recent market analysis predicting the BBU market will soar from $29.22 billion in 2025 to $43.64 billion by 2034.

The 3.3 MW deployment at Project Sophie is slated to commence operations in the fourth quarter of 2025, reinforcing Soluna’s position as a leader in sustainable computing infrastructure. Under the partnership, KULR will utilize Soluna's operational expertise to manage its fleet of mining hardware effectively. This new "Bitcoin Mining Lease" structure ensures that KULR receives guaranteed hashrate and uptime targets on both daily and monthly bases, thus alleviating the operational burdens typically associated with Bitcoin mining.

Belizaire believes that as more established companies like KULR explore Bitcoin as a component of their treasury strategy, Soluna's model presents a mutually beneficial pathway to guaranteed hashrate while sidestepping the complexities of traditional mining operations.

The partnership between Soluna and KULR signifies a pivotal moment in the evolution of Bitcoin mining and digital asset strategies. By harnessing renewable energy and innovative operational frameworks, both companies are set to redefine the landscape of sustainable computing. As KULR commits up to 90% of its surplus cash reserves to Bitcoin, this collaboration not only supports KULR’s Bitcoin Treasury Accumulation Strategy but also positions Soluna as an essential ally in navigating the complexities of the digital asset market.

With the anticipated launch of operations at Project Sophie, the partnership is poised to deliver significant advancements in high-performance computing while promoting sustainable practices within the burgeoning cryptocurrency sector. As both companies forge ahead, the implications of their collaboration could resonate throughout the industry, paving the way for a greener and more efficient future in digital asset management.