KULR Technology Group and Soluna Announce 3.3 MW Hosting Partnership at Project Sophie
HOUSTON , Oct. 09, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a Bitcoin+ treasury company that builds a portfolio of frontier technology businesses ranging from high-performance energy systems to AI Robotics, today announced a new hosting partnership with Soluna Holdings, Inc. ("Soluna") (NASDAQ:SLNH), a developer of green data centers for intensive computing applications. Under this agreement, Soluna will operate approximately 3.3 MW of Bitcoin mining capacity for KULR at its Project Sophie facility in Kentucky. The partnership marks the first time Soluna has partnered with a Bitcoin treasury-focused company, expanding its customer base beyond traditional Bitcoin miners and hyperscalers.
"This partnership represents a new chapter in how we serve the market," said John Belizaire, CEO of Soluna." Treasury companies like KULR are increasingly seeking sustainable, high-performance computing infrastructure to diversify their digital asset strategies. We're proud to pioneer a flexible hosting model that meets this evolving demand."
The agreement reflects Soluna's strategy to adapt its renewable-powered hosting model to meet the developing demand profiles of Bitcoin mining and adjacent industries.
"This collaboration supports KULR's commitment to strategic innovation in digital asset management," said Michael Mo, CEO of KULR Technology Group. "Partnering with Soluna allows us to engage in Bitcoin mining through a renewable, reliable, and operationally efficient framework." Mo continued, "This is only the beginning. As KULR expands beyond Bitcoin mining and migrates into Battery Backup Unit (‘BBU') solutions, Soluna stands out as the ideal partner for future projects focused on sustainable, low-cost AI data center hosting powered by stranded renewable energy."
As per the BBU Market analysis conducted by Custom Market Insights in July 2025, the global BBU Market is expected to grow from 29.22 Billion USD in 2025 to 43.64 Billion USD by 2034.
The 3.3 MW deployment at Project Sophie is expected to commence operations in Q4 2025, further strengthening Soluna's leadership in sustainable computing infrastructure.
Under the partnership, KULR will leverage Soluna's operational and market expertise to purchase, service, and manage all activities associated with its fleet of mining hardware over the life of the contract. Through this new "Bitcoin Mining Lease" structure, Soluna will deliver guaranteed hashrate and uptime targets to KULR on a daily and monthly basis.
As more established companies like KULR explore Bitcoin as part of their treasury strategy, Soluna's model offers a mutually beneficial pathway to guaranteed hashrate without the operational complexity of mining. This partnership supports KULR's Bitcoin Treasury Accumulation Strategy, announced earlier this year, in which KULR committed up to 90% of its surplus cash reserves to Bitcoin. Through its new hosting framework, Soluna empowers Bitcoin+ companies such as KULR to tap into the benefits of Bitcoin mining while avoiding the common challenges of market volatility and legacy infrastructure constraints.
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (NYSE:KULR) is a Bitcoin+ treasury company that builds a portfolio of frontier technology businesses ranging from high-performance energy systems to AI Robotics. KULR delivers cutting-edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company's offering allows delivery of commercial-off-the-shelf and custom next-generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. Since late 2024, KULR has included bitcoin as a primary asset in its treasury program and committed to allocating up to 90% of its excess cash to the acquisition of bitcoin.
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About Soluna Holdings, Inc. (NASDAQ:SLNH)
Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. Soluna designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna's pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna's proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com and follow us on:
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Soluna regularly posts important information on its website and encourages investors and potential investors to consult the Soluna investor relations and investor resources sections of its website regularly.
Safe Harbor Statement
This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on March 31, 2025, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely based on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
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