Welcome to our dedicated page for SOLUNA HOLDINGS news (Ticker: SLNH), a resource for investors and traders seeking the latest updates and insights on SOLUNA HOLDINGS stock.
Soluna Holdings, Inc. (Nasdaq: SLNH) is a developer of renewable-powered data centers for intensive computing applications, including Bitcoin mining, Generative AI, and high-performance computing (HPC). The SLNH news feed on Stock Titan highlights how the company advances its Renewable Computing™ model by pairing modular data centers with wind, solar, and hydroelectric power plants.
Investors and observers following SLNH news can see regular updates on Soluna’s project portfolio, such as the wind-powered Project Dorothy campus in West Texas, the Project Kati campus in Willacy County, Texas, and the Project Grace AI/HPC pilot. Monthly business updates provide site-level metrics and progress on construction, commissioning, and customer deployments across Bitcoin hosting, proprietary mining, and AI/HPC hosting sites.
Company press releases also cover strategic partnerships and financings. Recent announcements include a Memorandum of Understanding with Siemens for a 2 MW behind-the-meter AI pilot at Project Grace, a co-development MOU with Metrobloks, LLC to build a 100+ MW AI and HPC data center at Project Kati 2, and hosting agreements with digital asset partners such as Canaan Inc., Galaxy Digital, and KULR Technology Group. Capital markets activity, including registered direct offerings and credit facilities, is disclosed through both news releases and corresponding SEC filings.
By tracking SLNH news, readers can follow how Soluna expands its renewable-powered computing footprint, progresses on projects like Dorothy, Kati, Sophie, and Grace, and refines its mix of Bitcoin mining, hosting, AI/HPC services, and demand response offerings. Bookmark this page to monitor new project milestones, partnership announcements, and corporate developments affecting Soluna’s renewable computing business.
Soluna Holdings, Inc. (NASDAQ: SLNH) announced that CEO John Belizaire will participate in the Water Tower Research Fireside Chat Series on April 27, 2023, at 1:00 PM ET. This event is open to all investors and will cover key topics such as:
- Updates on Project Dorothy
- The shift from proprietary mining to hosting contracts influenced by recent market trends
- The company's future outlook following the energization of Project Dorothy
Interested investors can register for the event and access a replay afterward. Soluna focuses on developing green data centers that utilize excess renewable energy for various computing applications, including Bitcoin mining.
Soluna Holdings, Inc. (NASDAQ: SLNH) has received final approval from ERCOT to energize Project Dorothy, its 50 MW Bitcoin mining data center in Texas. This marks a significant regulatory step for the company, allowing it to utilize curtailed power from a connected 150 MW wind farm. The project will launch in phases, starting with 25 MW before expanding to a total of 50 MW. CEO Michael Toporek stated that this facility will demonstrate the financial results achievable with low-cost, curtailed power and set the stage for future growth. Project Dorothy aims to become one of the lowest-cost Bitcoin mining facilities in North America, capitalizing on wasted energy and supporting the grid's transition to renewable energy. Soluna is poised for economic expansion with a growing pipeline of green data center projects across the United States.
Soluna Holdings, Inc. (SLNH) announced the resignation of Chief Financial Officer Philip Patman Jr. effective April 21, 2023, as he moves to a similar role in Houston, Texas. CEO Michael Toporek expressed gratitude for Patman's contributions and leadership. David Michaels, a board director and Audit Committee Chairman, will serve as interim CFO. Michaels brings over 30 years of finance experience, previously holding CFO positions and serving at Albany International Corp. The resignation is stated to be without dispute or disagreement with the company. Soluna specializes in developing green data centers to convert excess renewable energy into computing resources, focusing on applications like Bitcoin mining and AI.
Soluna Holdings, Inc. (NASDAQ: SLNH) announced a 25 MW hosting contract with a leading Bitcoin miner at Project Sophie in Kentucky. This shift in business model will transition from proprietary mining to hosting Bitcoin miners for clients. The company plans to sell its existing Bitcoin miners at the site and redeploy the capital. CEO John Belizaire emphasized the importance of building a larger hosting business and partnering with like-minded industry leaders to promote a low-carbon future. The site will begin integrating customer hardware in the coming weeks.
This announcement reflects Soluna's strategic pivot in response to market changes aimed at enhancing its growth and operational efficiency.
Soluna Holdings, Inc. (NASDAQ: SLNH) has announced the final completion of interconnection construction for its Project Dorothy in Texas. The project site has received approval for a 100 MW load from its transmission service provider, paving the way for the energization of the first 25 MW. This milestone enables Soluna to scale operations as construction for future phases continues. CEO Michael Toporek emphasized the significance of this achievement for the company's growth trajectory. Soluna plans to announce the energization of the project once approved by ERCOT, the Texas grid operator.
Soluna Holdings, Inc. (NASDAQ: SLNH) reported FY 2022 results, showcasing a 99% revenue increase to $28.5 million from $14.3 million in 2021, driven by enhanced mining operations at Project Sophie. Notably, cryptocurrency mining revenue reached $24.4 million, while data hosting generated $4.1 million. However, Adjusted EBITDA was -$4.6 million, down from $1.5 million profit in 2021. Cost of revenue as a percentage rose to 62% due to declining Bitcoin prices and rising energy costs. Additionally, operational expenses surged 115% to $15.3 million, primarily from personnel costs and legal fees associated with Project Dorothy.
Soluna Holdings, Inc. (NASDAQ: SLNH) has announced the commencement of the final phase of its substation interconnection work, set for completion by the end of March 2023. Following this, testing on the power infrastructure will begin, with the aim to energize the Dorothy 1A facility by the first week of April, pending ERCOT approval. The project is financed through funding from Spring Lane Capital and is expected to be one of the lowest-cost facilities in North America, enhancing the company’s capacity for Bitcoin mining and other intensive computing.
Soluna Holdings, Inc. (NASDAQ: SLNH) has announced the promotion of John Belizaire to CEO, effective no later than April 30, 2023, succeeding Michael Toporek, who will become Executive Chairman. Belizaire, a co-founder of Soluna Computing, Inc., aims to enhance operational alignment for improved efficiency as the company prepares to energize its Texas project following a strategic funding from Spring Lane Capital. This leadership transition reflects a pivotal moment for Soluna as it focuses on profitability in its renewable energy-driven data center operations.
Soluna Holdings, Inc. (SLNH) has announced that its Convertible Noteholders waived defaults related to outstanding notes issued in 2021 and amended through 2022. This waiver is part of a $7.5 million financing arrangement for Project Dorothy, completed on March 10, 2023. CEO Michael Toporek expressed optimism about the cooperative relationship with noteholders, which supports the company's growth plans. The announcement includes a Safe Harbor Statement indicating forward-looking statements concerning future expectations and plans for the company.
Soluna Holdings, Inc. (NASDAQ: SLNH) announced the completion of a $7.5 million funding round for Project Dorothy, aimed at enhancing its green data center capabilities for Bitcoin mining and intensive computing. This funding comes from partnerships with Spring Lane Capital, increasing its stake in the initial 25 MW phase of the project from 32% to 85%. The total estimated value of Project Dorothy is approximately $30 million, with plans to use the funds for substation interconnection and operations. The investment is expected to facilitate further investments and attract top-tier Bitcoin miners.