SOLUNA HOLDINGS INC Stock Price, News & Analysis

Soluna Holdings (NASDAQ: SLNH) reports a successful ramp-up in its operations, targeting a hashrate of 1 EH/s by the end of March 2022, with plans to exceed 3 EH/s in Q4 2022. January's BTC equivalent mined increased by 11% month-over-month, despite a 17% drop in BTC prices. Revenue for January reached $3,238,000, contributing to an annualized revenue estimate of $38,856,000. The company is also set to break ground on its Dorothy Project, targeting over 150 MW in capacity and enhancing its footprint in the green energy sector.

Soluna Holdings, Inc. (NASDAQ: SLNH) has declared a cash dividend of $0.1875 per share on its 9.0% Series A Cumulative Perpetual Preferred Stock for February 2022. This dividend will be paid on or about February 28, 2022, to shareholders on record by February 17, 2022. The Series A Preferred Stock, trading under the ticker symbol SLNHP, offers an annual dividend rate of 9.0% based on a $25.00 liquidation preference. Soluna focuses on developing green data centers that utilize excess renewable energy for computing resources, supporting cryptocurrency mining and AI applications.

Soluna Holdings, Inc. (NASDAQ: SLNH, SLNHP) will ring the closing bell at Nasdaq on February 1, 2022, at 4:00 PM ET, led by CEO Michael Toporek and John Belizaire of Soluna Computing. This ceremony celebrates the company's successful up-listing to Nasdaq and highlights its growth in the green energy sector for cryptocurrency mining and AI. Soluna's data centers utilize excess renewable energy, aiming to reduce waste and enhance profitability for electricity asset owners. A live stream and replay of the event will be available online.

Soluna Holdings, Inc. (NASDAQ: SLNH, SLNHP) shared its 2022 earnings power illustration, highlighting its focus on profit generation even amidst lower BTC prices. CEO Michael Toporek emphasized the company's growth plan, aiming to energize over 100 MW of new data centers and expand its capacity to 3 EH. With a projected FY22 revenue of $46.1 million at $20,000 BTC, the company anticipates substantial contribution margins across various BTC price scenarios. The long-term strategy also includes diversifying beyond crypto operations.

Soluna Holdings (NASDAQ: SLNH) continues to demonstrate robust growth despite challenging market conditions, including an 18% drop in average BTC prices in December. The company's revenue increased monthly, contributing to a yearly cash margin run-rate of $25.65 million. The hashrate is expected to scale to 1 EH/s by March 2022, with a target of energizing 100 MW at sub 2.5 cents per kWh. Revenue for December reached $3,243K, adding to an annualized revenue of $32,068K.

Soluna Holdings, Inc. (NASDAQ: SLNH) announced a master equipment financing agreement with NYDIG ABL LLC, securing approximately $14.4 million to enhance its cryptocurrency mining operations. This financing will allow Soluna's subsidiary, Soluna MC Borrowing, to purchase 110 PH/s of Bitmain S19 equipment, expected between February and June 2022. With an interest rate of 12-14%, the loans will be repaid over 15-60 months. CEO Michael Toporek emphasized that this non-dilutive capital supports scaling operations and diversifying into batchable computing applications beyond cryptocurrency.

Soluna Holdings, Inc. (NASDAQ: SLNH) has declared a dividend for its 9.0% Series A Cumulative Perpetual Preferred Stock. The monthly cash dividend for January 2022 will be $0.1875 per share for 806,585 shares, $0.20625 per share for 445,714 shares issued on December 28, 2021, and $0.1625 per share for 66,857 shares issued on January 5, 2022. The payment date is set for January 31, 2022, for shareholders on record as of January 17, 2022. This reflects Soluna's strategy to deliver value to its shareholders while supporting its renewable energy-powered cryptocurrency mining operations.

Soluna Holdings, Inc. (Nasdaq: SLNH) has secured a multi-year contract with the U.S. Air Force (USAF) worth over $10 million. This contract, extending over five years, continues the 24-year partnership between Soluna's MTI Instruments division and the USAF. The contract focuses on supplying the PBS turbo fan jet engine vibration analysis and balancing solution essential for aircraft readiness and safety. President Moshe Binyamin highlighted the significance of this repeat order, emphasizing Soluna's commitment to quality and reliability as a trusted provider to the military.

Soluna Holdings, Inc. (NASDAQ: SLNH) has successfully completed an over-allotment offering, issuing an additional 66,857 shares of its 9.0% Series A Cumulative Perpetual Preferred Stock at $17.50 per share, generating approximately $1.17 million in gross proceeds. The funds will be utilized for the acquisition and expansion of data centers, supporting cryptocurrency mining and related infrastructure. The first dividend on these shares is set for January 31, 2022. The Series A Preferred Stock is listed under the symbol SLNHP and is non-redeemable until August 23, 2026.