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, 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.
Soluna Holdings (NASDAQ: SLNH) released its August 2024 business update, highlighting strong Q2 2024 results with a 362% year-over-year revenue increase. The company broke ground on Project Dorothy 2, a 48 MW Bitcoin hosting facility in Texas. Soluna also introduced two new AI-focused projects: Project Grace (2 MW) and Project Ada (1 MW), expanding its presence in the AI cloud/hosting sector.
Key operational updates include ongoing site optimization at Dorothy 1A and 1B, expected to complete by September's end. Project Sophie maintained strong operations, while Project Kati (166 MW) progressed with ERCOT approval for its Reactive Power Study. The company continues to balance its focus between Bitcoin mining and AI computing infrastructure, adapting to market demands and environmental considerations.
Soluna Holdings (NASDAQ: SLNH) has secured a $25 million Standby Equity Purchase Agreement with Yorkville Advisors Global. The initial $10 million draw will be used to repay convertible notes and fund data center projects. This financing will enable Soluna to:
- Fund Soluna Cloud AI operations and data center development
- Deploy capital into projects to improve equity cash flows
- Retire existing Convertible Notes
- Strengthen its balance sheet
The deal structure offers flexible terms, including unsecured financing with a one-year term and 0% interest. Soluna plans to advance AI data center designs, prepare for a 2 MW AI data center build-out, accelerate the 166 MW Project Kati development, and acquire new sites for up to 20 MW of additional AI data center development.
Soluna Holdings, Inc. (NASDAQ: SLNH) has broken ground on Project Dorothy 2, its flagship sustainable data center in Texas. This expansion doubles the size of the original Project Dorothy facility, harnessing renewable energy for high-performance computing applications such as Bitcoin mining and AI. The groundbreaking ceremony took place on August 28, 2024, with the facility expected to be energized in Q1 2025.
CEO John Belizaire emphasized the project's significance in advancing Soluna's vision of Renewable Computing, where technology and sustainability coexist. The data center is named after Dorothy Vaughan, an African American mathematician who worked for NASA, continuing Soluna's tradition of honoring women scientists who catalyzed major innovations.
Soluna Holdings (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, announced its participation in the Water Tower Research Fireside Chat Series on August 28, 2024, at 1:00 PM EDT. CEO John Belizaire will lead the discussion, which is open to all investors.
The chat will cover several key topics, including:
- An onsite update of Project Dorothy
- Soluna's evolution into three growing business lines
- Discussion of recent Q2 2024 results
- Updates on new project developments and existing project performance
Interested parties can register for the event through the provided link, and replays will be available after the webcast.
Soluna Holdings (NASDAQ: SLNH) reported a 362% year-over-year increase in revenue for Q2 2024, reaching $9.7 million compared to $2.1 million in Q2 2023.
Operating loss improved to $3.7 million, a 48% reduction from the $7.1 million loss in Q2 2023. Adjusted EBITDA rose to $1.8 million from a loss of $2.0 million in the prior year, driven by strong revenue growth and cost discipline.
Unrestricted cash increased by 50% from the end of 2023 to $9.6 million. Key projects include the ongoing construction of Dorothy 2, the development of Project Kati, and a 2 GW pipeline.
Partnership with Hewlett Packard Enterprise launched Soluna Cloud, allowing for scalable AI workloads using renewable energy.
Project Kati signed a Definitive Power Purchase Agreement with EDF Renewables and Masdar. Convertible debt decreased from $7.7 million to $5.3 million due to strong share price momentum and trading volume.
Soluna Holdings, Inc. (NASDAQ: SLNH) has released its July business update, highlighting significant developments in its green data center operations. Key highlights include:
1. Availability of 512 H100 SXM GPUs through partnership with HPE for AI workloads.
2. Closure of $30M funding for Project Dorothy 2, a 48 MW expansion.
3. Additional $1.25M funding for Soluna Cloud, totaling $13.75M for AI business.
4. Collaboration with HPE for sustainable enterprise AI services.
5. Completion of the second month of the Four Coincident Peak Program at Project Dorothy 1A/1B.
6. Over $1.1M revenue generated in H1 through ancillary services.
7. Progress on Project Dorothy 2 construction and Project Kati planning.
These developments showcase Soluna's commitment to expanding its green data center capabilities and diversifying its revenue streams in the AI and Bitcoin mining sectors.
Soluna Holdings (NASDAQ: SLNH) has announced a partnership with Hewlett Packard Enterprise (HPE) to deliver sustainable AI cloud solutions. The collaboration, named Soluna Cloud, will use HPE's direct liquid-cooled infrastructure with NVIDIA H100 SXM GPUs, powered by nearly 100% renewable energy. As an HPE Partner Ready Service Provider, Soluna will offer advanced cloud solutions to HPE's global customer base, focusing on AI training and customization of language models.
The partnership aims to make AI operations more environmentally friendly while providing scalable and sustainable solutions for enterprises. Soluna Cloud will leverage Soluna's 2GW pipeline of wasted renewable energy and innovative Helix data centers. Customers can sign up for Soluna Cloud's AI services at www.solunacloud.com.
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