SOLUNA HOLDINGS INC Stock Price, News & Analysis

Soluna Holdings, Inc. (NASDAQ: SLNH) announced on September 9, 2022, that its subsidiary, Soluna Computing, Inc., has renewed a 10MW hosting contract at Project Marie in Kentucky. This contract allows Soluna to pass through fluctuating power costs and ensures profit-sharing related to potential Bitcoin gains. CEO Michael Toporek emphasized the firm's position as a low-cost Bitcoin miner and noted that this agreement mitigates risks associated with power price volatility. Project Marie is a 25MW data center powered by renewable energy from the Tennessee Valley Authority.

Soluna Holdings, Inc. (SLNH) announced that CEO Michael Toporek will present at the H.C. Wainwright Annual Global Investment Conference. The event will be held from September 12th to 14th, 2022, with Toporek's presentation scheduled for September 13 at 2:00 p.m. ET at the Lotte New York Plaza Hotel. Soluna specializes in developing green data centers that convert excess renewable energy into computing resources, particularly for cryptocurrency mining and AI. Their innovative approach aims to utilize up to 30% of renewable energy that would otherwise go to waste.

Soluna Holdings, Inc. (NASDAQ: SLNH) recently published an FAQ addressing key investor inquiries as part of its transparency initiative. CEO Michael Toporek emphasized the company's commitment to transparency and gratitude for investor questions. The FAQ is designed to keep current and potential investors informed about the company's activities and vision. Soluna focuses on developing green data centers for cryptocurrency mining, utilizing renewable energy resources efficiently. More information can be accessed through their official website.

Soluna Holdings, Inc. (NASDAQ: SLNH) reported its July site level financials, highlighting a 12% increase in BTC Equivalent Mined despite a 12% drop in average BTC prices. The company maintained healthy cash contribution margins of 27% in prop mining and 19% overall, despite challenges in the hosting segment. Notably, a 10MW hosting agreement at Marie is set to expire, with potential for improved margins from any subsequent contracts. CEO Michael Toporek emphasized the importance of investing for long-term value.

Soluna Holdings (NASDAQ: SLNH) reported robust Q2 results, showcasing a 7.5x year-over-year growth in BTC equivalent mined and a 38.8x increase in hashrate. Revenue for the first half of 2022 surged 6.8x to $18 million. Despite a 6.3% decline in quarterly revenue due to a 21.3% drop in BTC prices, Soluna's cash contribution margins rose 4.0x year-over-year. The company aims to leverage its low-cost energy strategy for long-term growth, despite the current market volatility.

Soluna Holdings, Inc. (NASDAQ: SLNH) has secured initial funding of up to $12.5 million from Spring Lane Capital, part of a total of $35 million committed for its Dorothy project in Texas. This project aims to develop a 100 MW data center and is designed to convert excess renewable energy into computing resources, enhancing sustainability. CEO Michael Toporek emphasized that this funding will accelerate Soluna’s development pipeline while addressing energy output challenges in collaboration with partner organizations.

Soluna Holdings, Inc. (NASDAQ: SLNH) declared a regular monthly cash dividend of $0.1875 per share on its 9.0% Series A Cumulative Perpetual Preferred Stock for August 2022. The dividend, payable on August 31, 2022, applies to shareholders of record by the close of business on August 18, 2022. This dividend represents an annualized yield of 9.0% based on the $25.00 liquidation preference. Soluna is focused on sustainable cryptocurrency mining using excess renewable energy, positioning itself as a leader in green data center development.

Soluna Holdings, Inc. (NASDAQ: SLNH) has appointed Phil Patman Jr. as Chief Financial Officer, effective August 16th. Patman has over 25 years in finance operations, recently serving at Ameresco as VP of Renewable Fuels M&A. His role will focus on capital markets and acquisitions for Soluna's expanding network of green data centers. CEO Michael Toporek stated that Patman’s experience will significantly enhance the company’s growth trajectory. This appointment follows a $35 million funding deal to advance project financing and reflects Soluna's commitment to maximizing renewable energy efficiency.

Soluna Holdings, Inc. (NASDAQ: SLNH) announced significant financing developments aimed at enhancing capital structure flexibility. The company has amended the remaining balance of $13 million in convertible notes, allowing a conversion price adjustment to a 20% discount. Additionally, Soluna issued $5 million in Series B Preferred Stock with a 10% annual dividend. These moves are designed to support the execution of its business plan amidst market volatility, particularly in funding the Dorothy project.