(Bloomberg) -- Bitcoin miner Soluna Inc. acquired a $53 million wind farm to power a new artificial intelligence facility, a strategic pivot as declining crypto mining revenues push the industry toward more profitable ventures. The acquisition was announced on April 2, 2026.
The deal underscores a broader trend of crypto miners leveraging their energy infrastructure and expertise to enter the high-growth AI sector. “This strategic acquisition could be viewed positively by the market, showcasing Soluna's proactive diversification from the volatile crypto mining sector into the high-growth AI industry,” the company said in a statement.
The 53-megawatt wind farm will provide the necessary power for Soluna's new AI facility, which is part of the company's expansion into AI workloads that began in 2024. The move is intended to shore up declining revenues from its traditional crypto mining business.
This diversification could increase investor confidence and potentially lead to a positive re-rating of the company's valuation. It also reinforces the narrative of crypto miners leveraging their energy and computing infrastructure for AI, potentially impacting the entire sector's outlook as other miners like Core Scientific and Hut 8 have also made moves into the AI space.
The transition from crypto mining to AI is a natural one for many miners. Both industries require significant energy and sophisticated cooling systems, and the infrastructure built for mining can be repurposed for AI data centers. This allows miners to capitalize on the booming demand for AI computing power while mitigating the risks associated with the volatile cryptocurrency market.
This article is for informational purposes only and does not constitute investment advice.
