Soluna added to Russell indexes, signs LOI for 350 MW AI project

Soluna Holdings, Inc. (NASDAQ: SLNH) released its June 2026 monthly business update, reporting operational and development progress across its portfolio of data center projects.

The company said it has been added to the Russell 3000 Index and Russell 2000 Value Index following the latest Russell reconstitution. Soluna has also scheduled its first quarterly earnings conference call for 5:00 pm EDT on August 13, 2026, to review Q2 performance.

At Project Kati 1, an 83 MW wind-powered data center in Willacy County, Texas, the company said substantial completion was achieved for Phase 2 of the K1B build-out, covering 9 MW. Construction on Phase 3, adding 14 MW, is ongoing and described as ahead of schedule.

For Project Kati 2, a 350+ MW facility under development for AI and high-performance computing hosting, a general contractor has been selected following an RFP process. Detailed design documentation is approximately 50% complete. Soluna said a Letter of Intent has been signed with one potential tenant, with commercial negotiations now underway.

Project Dorothy 3, a 300+ MW AI and HPC facility under development, has begun schematic design and master planning. Environmental due diligence and survey work remain in progress.

At the Briscoe Wind Farm, co-located with Project Dorothy, repair work is ongoing after a two-week delay caused by high winds. An additional crew and crane have been deployed to accelerate completion. The company said renewable energy credit sales were completed for the second quarter.

Pipeline projects Annie and Fei have commenced capital formation and construction design activities, with ERCOT interconnection studies nearing completion. Land has been secured for Project Fei. Projects Ellen, Hedy, and Rosa are advancing through interconnection and transmission processes.

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