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Soluna Holdings, Inc. develops green data centers that convert renewable energy into computing power for intensive applications including Bitcoin mining and artificial intelligence. Company news commonly covers customer deployments and hosting partnerships at Project Dorothy, site-level operating updates, renewable-power integration, and expansion of compute capacity across its data-center campuses.
Soluna updates also include completed energy-asset acquisitions, such as the Briscoe Wind Farm, that connect power generation with data-center operations. Other recurring disclosures address capital actions, investor communications, and Nasdaq listing compliance for its SLNH common stock.
Soluna Holdings, Inc. (Nasdaq: SLNH) announced plans for an underwritten public offering of its Series A Preferred Stock. The company may issue up to 15% additional shares to the underwriter for over-allotments. Proceeds will be directed towards expanding data centers, acquiring cryptocurrency mining processors, and other general corporate purposes. The offering is contingent on market conditions, and further details will be provided through a prospectus supplement filed with the SEC.
Soluna Holdings, Inc. (Nasdaq: SLNH) has entered a non-binding letter of intent for the potential sale of its MTI Instruments subsidiary to a strategic buyer in the test and measurement sector. CEO Michael Toporek emphasized their commitment to focus on green computing and cryptocurrency mining. The sale, if finalized, will allow Soluna to exit the instrumentation business. The buyer intends to acquire 100% of MTI's common stock, and the deal is subject to due diligence and definitive agreements. Soluna aims to enhance its green, zero-carbon computing initiatives.
Soluna Holdings, Inc. (Nasdaq: SLNH) has announced its MTI Instruments division is advancing toward qualification for its electric vehicle (EV) battery measurement device with major automotive manufacturers. President Moshe Binyamin reported significant traction in the EV market, with an additional order received from a European carmaker. The precision measurement system addresses critical thickness monitoring in battery manufacturing, crucial for optimizing performance and reducing costs. MTI is currently engaged with five OEMs, reflecting strong interest and a large market opportunity in the EV sector.
Soluna Holdings, Inc. (Nasdaq: SLNH) announced a significant $1.4 million order from a global industrial manufacturer through its MTI Instruments division. This contract includes a 14-year maintenance and support agreement, providing recurring revenue. The order involves MTI’s Block Gage measurement device, which ensures precision in machining ball pistons for high-power transmissions. The partnership, established since 2008, exemplifies trust and reliability, highlighting MTI's commitment to customer needs and ongoing support for precision measurement solutions.
Soluna Holdings, Inc. (Nasdaq: SLNH) reported strong November 2021 financials, underscoring its commitment to scaling operations in green data centers for cryptocurrency mining. The company aims to exceed 1 EH/s by the end of Q1 2022, projecting a yearly revenue run-rate of over $61 million and a cash contribution margin above $40 million. As of December 9, 2021, its site reported 623 PH/s, anticipating 722 PH/s shortly, with further growth expected. Cash contribution margin run-rate stands at $23.3 million.
Soluna Holdings, Inc. (SLNH) has declared a monthly dividend of 9.0% on its Series A Cumulative Perpetual Preferred Stock, with a payable date of December 31, 2021. Shareholders of record by December 17, 2021, will receive dividends based on a $25.00 liquidation preference. This announcement indicates SHI's commitment to providing returns to investors while focusing on renewable energy-powered cryptocurrency mining.