SOLUNA HOLDINGS INC Stock Price, News & Analysis

Soluna Holdings (NASDAQ: SLNH), a developer of green data centers for Bitcoin mining and AI, announced its November updates. The company highlighted a $18.8 million increase in year-to-date revenue for Q3-2024, achieving a record $29.7 million. Key project updates include:

• Project Dorothy 1A & 1B: Two new customer deployments totaling 20 MW of upgraded equipment.
• Project Dorothy 2: Completion of the substation interconnection civil scope with electrical tie-in scheduled for mid-January.
• Project Grace: Microgrid and cooling designs for behind-the-meter integration are underway.
• Project Ada: Signed a deal with SFCompute for on-demand GPUs, live as of December 1st.
• Project Sophie: Continued high-level operation with cooler temperatures.
• Project Kati: Phase 1 of substation interconnection civil scope is underway.

CEO John Belizaire appeared on the Humans in AI Podcast, and CFO John Tunison participated in a Fireside Chat with Water Tower Research.

Soluna Holdings (NASDAQ: SLNH) has signed a Master Services Agreement with San Francisco Compute Company to provide custom AI cloud solutions. Soluna will initially supply 80 Nvidia H100 GPUs, potentially scaling to 120 GPUs, from its AI cloud infrastructure to SF Compute. This partnership is the first customer engagement from Soluna's collaboration with HPE GreenLake. The deal could generate a maximum revenue of $2.466 million over one year. The agreement includes flexible usage models, robust security, and compliance with global data privacy standards. SF Compute will go live with the initial GPUs by the end of this week.

Soluna Holdings reported strong Q3 2024 financial results, with revenue increasing 30% to $7.5 million compared to Q3 2023. Year-to-date revenue reached a record $29.7 million, up 172% from 2023. The company secured significant funding, including $30 million for Project Dorothy expansion and a $25 million growth capital line. Key developments include launching Soluna Cloud AI business with HPE partnership, breaking ground on Project Dorothy 2, and expanding their development pipeline to 2.6 GW. Year-to-date adjusted EBITDA improved to $3.5 million from a $4.5 million loss in 2023, while unrestricted cash grew 38% to $8.8 million.

Soluna Holdings (NASDAQ: SLNH) has released its October business update, highlighting progress across multiple projects. The company is advancing on its $25 million Standby Equity Purchase Agreement and has completed several corporate initiatives, including webinars and AMAs. Key operational updates include: Project Dorothy 1A/1B (50MW total) maintaining high performance, Project Dorothy 2 (48MW) completing initial site preparation, and Project Grace (2MW) nearing completion of its Helix data center design. The company's AI initiatives show progress with Project Ada having 10 proof-of-concept projects and a waitlist of 128 nodes with 1,024 GPUs.

Soluna Holdings, Inc. (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, has announced its participation in the Water Tower Research Fireside Chat Series. John Tunison, CFO of Soluna, will be presenting on Wednesday, October 16, 2024 at 1:00 PM ET.

The event, open to all investors, will cover several key topics, including:

• Discussion of the recently announced $25 million growth capital line
• Updates on convertible debt and preferred shares
• Financing options for new growth opportunities, such as the 166 MW Project Kati, the 187 MW Project Rosa, and the acquisition of new sites for AI data centers

Interested parties can register for the event using the provided link. Replays of the webcast will be available after the event.

Soluna Holdings, Inc. (NASDAQ: SLNH) has released its September business update, highlighting progress across various projects. Key developments include:

1. Signing a term sheet for Project Rosa, adding 187 MW of sustainable energy capacity.

2. Project Dorothy 1A and 1B (50 MW total) completed optimization efforts and successfully participated in ancillary services.

3. Project Dorothy 2 (48 MW) is progressing with site grading and concrete pouring.

4. New Project Grace (2 MW) and Project Ada (1 MW) are advancing in AI cloud and hosting services.

5. Project Sophie (25 MW) is preparing for a fleet upgrade and expansion.

6. Project Kati (166 MW) continues negotiations for land leases.

The company also published new blogs on AI's energy consumption and the convergence of AI with renewable energy.

Soluna Holdings, Inc. (NASDAQ: SLNH) has announced critical milestones towards accessing a $25 million Standby Equity Purchase Agreement (SEPA) with Yorkville Advisors Global L.P. The company has reached agreements with its convertible noteholders and the holder of its Series B Preferred Stock, satisfying key conditions for the SEPA.

Key points include:

• Convertible noteholders will consent to the SEPA and waive participation rights in exchange for a $750,000 waiver fee and other considerations.
• The Series B Preferred stockholder will consent to the SEPA and agree to certain limitations in exchange for repricing of conversion and warrants.
• Soluna plans to use the financing to retire existing Convertible Notes, fund AI operations and data center development, and strengthen its balance sheet.
• Operational plans include advancing AI data center designs, preparing for Project Grace, and accelerating development of large-scale projects.

Soluna Holdings (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, announced that CEO John Belizaire will participate in a live virtual event on Sustainable AI for the Future of Business. The event, scheduled for Friday, October 4, 2024, at 3 PM EDT, will feature discussions with Anders Sorman-Nilsson, Global Futurist and Innovation Strategist, and Lin Nease, Hewlett Packard Enterprise Fellow, Sustainability Services CTO.

The open-access event will cover topics including:

• How sustainable AI practices can drive innovation and ESG success
• Real-world examples of AI initiatives meeting sustainability and efficiency goals
• Insights into AI powered by renewable energy reducing environmental footprints

Interested parties can register for the event through the provided link.

Soluna Holdings (NASDAQ: SLNH) has signed term sheets for Project Rosa, a new 187 MW data center co-located with a 240 MW wind farm in Texas. The project, to be developed in two phases on 60 acres, will harness renewable energy for AI, machine learning, and Bitcoin hosting. This strategic move aligns with Soluna's mission to utilize excess renewable energy for sustainable, low-cost data centers. CEO John Belizaire emphasized the project's significance in growing their HPC and Bitcoin data center business. Named after chemist Rosalind Franklin, Project Rosa represents a substantial increase in Soluna's shovel-ready momentum. Next steps include finalizing power purchase agreements, land agreements, and completing the ERCOT planning phase.