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) operates at the intersection of renewable energy and high-performance computing, specializing in cryptocurrency mining and machine learning processes powered by sustainable resources. This page serves as the definitive source for official company announcements, financial updates, and operational developments.
Investors and industry observers will find curated news covering earnings reports, strategic partnerships, technology innovations, and energy infrastructure expansions. Our collection emphasizes Soluna's unique model of converting excess renewable energy into computational value through advanced data center operations.
All content is organized chronologically highlight SLNH's progress in sustainable computing solutions. Bookmark this page to track how the company navigates evolving markets in cryptocurrency, clean energy integration, and high-efficiency data processing.
Soluna Holdings CEO John Belizaire shared a roadmap to profitability in a letter to shareholders. Highlights from 2023 include the full operation of Project Dorothy, securing 50 MW of hosting contracts, and growing their cash position to $6.4M. Key milestones for 2024 involve doubling assets to 150 MW, focusing on AI-driven data centers, and optimizing operational excellence. Project Dorothy 2 and a new 166 MW Project Kati are pivotal to their growth plan. Soluna aims to lead in renewable computing solutions, leveraging their proprietary MaestroOS™ for cost efficiency and sustainability.
The full letter and 2024 earnings presentation are available on Soluna's website.
Soluna Holdings (NASDAQ: SLNH) has signed a Power Purchase Agreement (PPA) for its Project Kati with EDF Renewables and Masdar. This project is the company's second Renewable Computing data center in Texas, to be co-located at a wind facility. Project Kati will be executed in two phases, each delivering 83 MW of renewable energy, totaling 166 MW upon completion. The project aims to power high-performance computing applications, such as AI. The agreement strengthens Soluna’s market position and underlines its commitment to sustainable energy solutions and innovation.
Soluna Holdings has secured up to $30 million from Spring Lane Capital to expand its Texas-based data center, Project Dorothy, by 48 MW. The new facility, Dorothy 2, will begin construction in Q2 2024 and will host approximately 13,700 Bitcoin mining rigs. The expansion is fully funded and includes $1 million for long-term equipment purchases. Dorothy 2 has all necessary ERCOT approvals and aims to double the site's energy consumption. Soluna plans to allocate the remaining 2 MW of wind power to its Helix AI data center. This partnership underscores Soluna's commitment to sustainable energy and high-performance computing.
Soluna Holdings (NASDAQ: SLNH), a developer of green data centers, reported a significant financial turnaround in Q1 2024. Revenue surged 307% year-over-year to $12.6 million, with a marked 24% increase from Q4 2023. Adjusted EBITDA improved by $8.0 million, reaching $5.1 million. Cryptocurrency mining revenue grew by $3.6 million, driven by a 134% rise in Bitcoin prices. Data Hosting Revenue increased by $5.0 million due to new projects. Operating Income turned positive at $0.407M, accompanied by a 32% increase in cash reserves to $8.4 million. The company also announced new AI Cloud services and CFO appointment. These results underscore the effectiveness of Soluna's diversification and optimization strategies.
Soluna Holdings, a green data center developer, collaborates with a leading enterprise GPU-Server and AI infrastructure provider to launch Soluna Cloud, offering sustainable AI Cloud services. The partnership aims to deliver NVIDIA H100 GPUs for energy-efficient supercomputers, leveraging renewable-powered data centers for environmental sustainability. Soluna's CEO, John Belizaire, expresses excitement over the collaboration, highlighting the focus on making AI more sustainable and addressing the growing demand for sustainable data centers. The introduction of AI Cloud services is expected to drive substantial revenue growth for Soluna Cloud, with a growing pipeline of interested AI customers.
Soluna Holdings, Inc. provided updates on its April project site-level operations, developments, and corporate highlights. Key metrics and company updates were shared, including optimizations for post-halving, AI power demand management, new CFO appointment, and involvement in sustainability discussions. Key project updates for various sites were also highlighted.
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