Soluna Holdings and BitDeer Technologies have entered a co-mining arrangement adding 1.93 exahashes per second of bitcoin mining capacity, according to a filing with the Securities and Exchange Commission dated August 25, 2026. The 28 megawatt agreement is structured at Soluna's Project Kati 1 facility.
Under the arrangement, BitDeer owns the mining hardware while the parties share mining proceeds. Co-mining agreements differ from hosting contracts, where an operator leases space and power to a third-party equipment owner. In a co-mining setup, both parties have aligned upside from block rewards and transaction fees.
Soluna operates bitcoin mining and hosting infrastructure across multiple facilities. The company has previously announced mining operations in Texas and other U.S. jurisdictions. Project Kati 1 represents an expansion of Soluna's capacity footprint.
BitDeer, a subsidiary of Matrixport, operates one of the largest independent mining pools and provides hosting and co-mining services globally. The company manages tens of exahashes of hashrate across multiple hosted and co-mined operations. BitDeer is expanding its co-mining footprint in U.S.-based facilities.
The 1.93 EH/s addition comes as global bitcoin network hashrate exceeded 650 exahashes per second in mid-2026. Major mining operators have competed for lower-cost power and facility space, with U.S. capacity increasingly attractive due to regulatory clarity and stable electricity markets. The agreement's timing coincides with ongoing consolidation and partnership formation across the mining infrastructure sector.
Soluna's total deployable mining capacity expanded with this arrangement. BitDeer's co-mining footprint now includes operations across multiple geographies and power sources, reducing concentration risk on any single facility or jurisdiction.
The filing to watch is whether Soluna discloses the revenue-sharing terms or capacity deployment rates of the arrangement in subsequent quarterly or annual filings. Actual hashrate deployment under the agreement and its contribution to Soluna's operational margins would clarify whether the capacity addition produces material earnings improvement.
