Crypto mining company Soluna has reached a definitive agreement to raise $32 million through a rights issue in accordance with Nasdaq rules.

According to Businesswire, Soluna Holdings, a Nasdaq-listed company that develops green data centers for intensive computing applications such as Bitcoin mining and artificial intelligence, announced that it has reached a definitive agreement to issue 18,079,144 ordinary shares and corresponding Series C warrants at a price of $1.77 per share, raising approximately $32 million in accordance with Nasdaq rules. The new funds will be used for operations, equity investments in projects, and general corporate purposes, including supporting high-performance computing applications such as Bitcoin mining and generative artificial intelligence.