Soluna Announces Monthly Business Update

ALBANY, N.Y.--(BUSINESS WIRE)-- Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for Bitcoin mining and other intensive computing applications, announced its January project site-level operations, developments, and updates.

The Company has provided the following Corporate and Site Updates.

Key Company Metrics:

The monthly metrics are now available here.

Corporate Highlights:

• Investor Conference – We attended the DealFlow MicroCap Conference in Atlantic City. The presentation can be found here.
• Net Promoter Score – The company achieved a 90 out of 100 on its first Net Promoter Score (NPS) Survey of its hosting customers.
• Podcast – Clean Integration is now airing Season 4. The most recent episode covers AI’s water usage.

Key Project Updates

Project Dorothy 1A (25 MW, Hosting) / Project Dorothy 1B (25 MW, Prop-Mining):

• MaestroOS powered down operations during the arctic blast extreme weather event at the outset of the month helping to enhance grid stability and aiding the local utilities and communities they serve.
• Curtailed energy consumption continued to ramp through the winter months.

Project Dorothy 2 (50 MW):

• A construction tender was launched and a bid process that is expected to be completed in March.
• Full infrastructure equipment tender has been launched.

Project Sophie (25 MW, Hosting with Profit Share):

• Two new customer deployments, totaling nearly 11 MW, are close to being fully deployed and are expected to be completed by the end of February.

Project Kati (166 MW):

• Project Kati is advancing through ERCOT planning.
• All commercial agreements are progressing towards finalization.

View Soluna’s Earnings Power Presentation here.

View Soluna’s recent AMA here.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.

In addition to figures prepared in accordance with GAAP, Soluna from time to time presents alternative non-GAAP performance measures, e.g., EBITDA, adjusted EBITDA, adjusted net profit/loss, adjusted earnings per share, free cash flow. These measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. Alternative performance measures are not subject to GAAP or any other generally accepted accounting principle. Other companies may define these terms in different ways.

About Soluna Holdings, Inc (SLNH)

Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as Bitcoin mining, AI, and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’

View source version on businesswire.com: https://www.businesswire.com/news/home/20240208053423/en/

Sam Sova

Partner and CEO

SOVA

Sam@letsgosova.com

Source: Soluna Holdings, Inc.