Bitdeer deploys 1.93 EH/s at Soluna's wind-powered Texas site

Bitdeer Technologies Group will deploy roughly 1.93 exahash per second of Bitcoin mining capacity at Soluna Holdings' wind-powered Project Kati 1 in South Texas, under a 28-megawatt co-mining agreement announced Aug. 25.

Co-mining is "a natural extension of that operating history," John Belizaire, chief executive officer at Soluna, said, pointing to the company's experience running renewable-powered computing infrastructure and the opportunity to participate directly in what those assets produce.

Under the agreement, Soluna provides the site, power, and turnkey operations at the 83 MW wind-powered facility in Willacy County, while Bitdeer owns its Sealminer A2 Pro Air hardware. The two companies will share mining proceeds. Deployment starts in September 2026, ramping in batches, and will be located in the K1BC phase of the site, which delivered its first gross profit in the second quarter.

The deal marks Soluna's first co-mining arrangement, shifting its revenue model from pure hosting fees to direct participation in mining economics. Soluna operates 192 MW of data center capacity across Project Sophie in Kentucky and Projects Dorothy 1, Dorothy 2, and Kati 1 in Texas, with 14 MW under construction at Kati 1 and a development pipeline of 6.3 GW.

For Bitdeer, the agreement extends its mining footprint beyond its own facilities. The Singapore-based company reported 73.0 EH/s of self-mining hashrate and 86.1 EH/s of total hashrate under management for June, according to its monthly operations update. The Soluna deployment adds roughly 2.6 percent to its self-mining capacity.

The co-mining structure differs from traditional hosting arrangements in a key way: rather than collecting a fixed hosting fee, Soluna gains direct exposure to Bitcoin production from infrastructure it already operates. This model reduces Soluna's capital expenditure requirements — it does not need to purchase mining rigs — while potentially improving returns on its existing renewable-powered infrastructure.

Renewable Power Draws Mining Partners

Project Kati 1 is an 83 MW wind-powered data center in Willacy County, Texas, that delivered its first gross profit in the second quarter of 2026. The Bitdeer deployment will be located in the K1BC phase, extending activity at what is now Soluna's largest operating site.

The agreement also reflects a broader trend in the Bitcoin mining sector, where operators are forming partnerships to optimize capacity utilization. Bitdeer has been scaling both Bitcoin mining and AI infrastructure, while some rivals have pivoted more aggressively toward AI data center services. The co-mining model allows Bitdeer to deploy its hardware at third-party sites with renewable power access, potentially lowering energy costs.

Soluna shares rose 12.66 percent following the announcement, while Bitdeer gained 2.61 percent. Soluna was trading at $1.27 per share with a market capitalization of approximately $288.6 million. The most recent analyst rating on Soluna stock is a Buy with a $4.00 price target, according to TipRanks data.

The deployment is scheduled to begin in September 2026, ramping in batches. Soluna's broader development pipeline totals 6.3 GW across projects in planning, development, and assessment with power partners, as the company expands its renewable-powered computing footprint.

This article is for informational purposes only and does not constitute investment advice.