Crypto mining sector is under a double pressure this week. While both funding challenges and regulatory obligations negatively affect company valuations, price movements in large tokens are showing a mixed picture.
According to CryptoSlate, Soluna is preparing for a critical vote to finance its expansion of artificial intelligence and Bitcoin. In a vote scheduled for October 16, the company aims to secure approval to issue 625 million new shares. The authorized share count, currently 1 billion, is planned to increase to 1.625 billion with this move. Under the proposal, the company could also carry out independently share sales that exceed Nasdaq’s 20% cap. This structure carries a risk of share dilution, which worries investors; since the company’s growth strategy for its AI and Bitcoin operations requires substantial capital.