Soluna Holdings, a green Bitcoin mining firm, has acquired a West Texas wind farm for $53 million as part of its ‘Project Dorothy’ to scale renewable energy operations. The move is expected to generate up to $24.4 million in annual revenue. Meanwhile, shrinking Bitcoin miner revenue following the 2024 halving has accelerated a sector-wide pivot towards AI data center ventures.
Soluna Holdings has acquired a West Texas-based Biscoe wind farm for $53 million to scale its vertical integration. The miner reported this was part of its ‘Project Dorothy,’ which aims to help increase its renewable energy sources and green data centers. The move is expected to generate $20 million to $24.4 million in annual revenue.
Since last September, Soluna has been mining an average of nine BTC per month. Apart from BTC mining operations and AI data centers, Soluna also provides hosting services to other miners. AI data centers have become a new lifeline for most public BTC miners, with companies like Bitdeer selling their entire BTC stash to pivot to AI.
The AI pivot has accelerated as Bitcoin’s price dropped by half from over $126,000 to below $65,000 in the past few months. The 2024 halving slashed miner rewards by half to 3.125 BTC, and in the next 2028 halving, the block rewards will drop further to 1.5625 BTC. As of early Q2 2026, the total daily miner revenue was $32 million, a 50% drop from the H2 2025 high of nearly $60 million.
While this was a slight relief from the recent low of $29 million seen in mid-March, the sub-sector was not out of the woods just yet. Miner distress, where miners turn off machines and sell BTC reserves because they are unable to cover operating costs, is back again. The distress was more pronounced in late November after the BTC price slipped below $90,000, as tracked by the Hash Ribbon metric.
