Welcome to our dedicated page for SOLUNA HOLDINGS news (Ticker: SLNHP), a resource for investors and traders seeking the latest updates and insights on SOLUNA HOLDINGS stock.
The news feed for Soluna Holdings, Inc. 9.0% Series A Cumulative Perpetual Preferred Stock (SLNHP) focuses on announcements and developments that affect this preferred security and its issuer, Soluna Holdings, Inc. Soluna is described in its public communications as a developer of green data centers that convert excess renewable energy into global computing resources, including cryptocurrency mining, AI, and machine learning workloads. News related to SLNHP often appears alongside broader corporate updates from the issuer.
Investors following SLNHP can expect coverage of dividend declarations on the 9.0% Series A Cumulative Perpetual Preferred Stock, including monthly cash dividend announcements and details about record and payment dates as disclosed by the company. These items are central to understanding the income profile of the preferred shares and how the Board of Directors is handling dividend policy for this security.
Because SLNHP is issued by Soluna Holdings, Inc., the news stream also reflects material events at the issuer level that may be relevant to preferred shareholders. This includes financing transactions, such as preferred and convertible securities offerings, amendments to existing notes, and at-the-market common stock offerings, as described in current reports on Form 8-K. Corporate governance items, such as stockholder meeting results and approvals of measures like reverse stock splits, also appear in the company’s news and filings.
Operational updates from Soluna’s green data center business provide additional context for SLNHP holders. Company news has discussed projects such as Project Marie and the Dorothy project, as well as hosting contracts, site-level financials, and development funding. While these updates primarily concern the operating business, they are relevant for assessing the environment in which the issuer of SLNHP operates. Users interested in SLNHP can review this news page regularly to monitor dividend announcements, capital structure changes, and operational milestones reported by Soluna Holdings, Inc.
Soluna Holdings, Inc. (NASDAQ: SLNH) announced a further amendment to its convertible notes issued on October 25, 2021. The maturity date will extend to April 25, 2023, allowing for the release of $1,000,000 on deposit. The company will not need to make a $950,000 escrow deposit or redeem up to $2,200,000 of Notes due on September 29, 2022. In return, the original issue discount on the Notes increases by 4%, raising the total balance to $13,006,022. Noteholders can convert $1,000,000 of Notes to shares at a 20% discount until October 17, 2022.
Soluna Holdings, Inc. (NASDAQ: SLNH) announced a monthly cash dividend of $0.1875 per share on its 9.0% Series A Cumulative Perpetual Preferred Stock for September 2022, payable on or about September 30, 2022. The record date for shareholders is September 19, 2022. This dividend reflects the company’s commitment to return value to shareholders while focusing on the development of green data centers that utilize excess renewable energy for intensive computing, including cryptocurrency mining.
Soluna Holdings, Inc. (NASDAQ: SLNH) announced on September 9, 2022, that its subsidiary, Soluna Computing, Inc., has renewed a 10MW hosting contract at Project Marie in Kentucky. This contract allows Soluna to pass through fluctuating power costs and ensures profit-sharing related to potential Bitcoin gains. CEO Michael Toporek emphasized the firm's position as a low-cost Bitcoin miner and noted that this agreement mitigates risks associated with power price volatility. Project Marie is a 25MW data center powered by renewable energy from the Tennessee Valley Authority.
Soluna Holdings, Inc. (SLNH) announced that CEO Michael Toporek will present at the H.C. Wainwright Annual Global Investment Conference. The event will be held from September 12th to 14th, 2022, with Toporek's presentation scheduled for September 13 at 2:00 p.m. ET at the Lotte New York Plaza Hotel. Soluna specializes in developing green data centers that convert excess renewable energy into computing resources, particularly for cryptocurrency mining and AI. Their innovative approach aims to utilize up to 30% of renewable energy that would otherwise go to waste.
Soluna Holdings, Inc. (NASDAQ: SLNH) recently published an FAQ addressing key investor inquiries as part of its transparency initiative. CEO Michael Toporek emphasized the company's commitment to transparency and gratitude for investor questions. The FAQ is designed to keep current and potential investors informed about the company's activities and vision. Soluna focuses on developing green data centers for cryptocurrency mining, utilizing renewable energy resources efficiently. More information can be accessed through their official website.
Soluna Holdings, Inc. (NASDAQ: SLNH) reported its July site level financials, highlighting a 12% increase in BTC Equivalent Mined despite a 12% drop in average BTC prices. The company maintained healthy cash contribution margins of 27% in prop mining and 19% overall, despite challenges in the hosting segment. Notably, a 10MW hosting agreement at Marie is set to expire, with potential for improved margins from any subsequent contracts. CEO Michael Toporek emphasized the importance of investing for long-term value.
Soluna Holdings (NASDAQ: SLNH) reported robust Q2 results, showcasing a 7.5x year-over-year growth in BTC equivalent mined and a 38.8x increase in hashrate. Revenue for the first half of 2022 surged 6.8x to $18 million. Despite a 6.3% decline in quarterly revenue due to a 21.3% drop in BTC prices, Soluna's cash contribution margins rose 4.0x year-over-year. The company aims to leverage its low-cost energy strategy for long-term growth, despite the current market volatility.
Soluna Holdings, Inc. (NASDAQ: SLNH) has secured initial funding of up to $12.5 million from Spring Lane Capital, part of a total of $35 million committed for its Dorothy project in Texas. This project aims to develop a 100 MW data center and is designed to convert excess renewable energy into computing resources, enhancing sustainability. CEO Michael Toporek emphasized that this funding will accelerate Soluna’s development pipeline while addressing energy output challenges in collaboration with partner organizations.
Soluna Holdings, Inc. (NASDAQ: SLNH) declared a regular monthly cash dividend of $0.1875 per share on its 9.0% Series A Cumulative Perpetual Preferred Stock for August 2022. The dividend, payable on August 31, 2022, applies to shareholders of record by the close of business on August 18, 2022. This dividend represents an annualized yield of 9.0% based on the $25.00 liquidation preference. Soluna is focused on sustainable cryptocurrency mining using excess renewable energy, positioning itself as a leader in green data center development.
Soluna Holdings, Inc. (NASDAQ: SLNH) has appointed Phil Patman Jr. as Chief Financial Officer, effective August 16th. Patman has over 25 years in finance operations, recently serving at Ameresco as VP of Renewable Fuels M&A. His role will focus on capital markets and acquisitions for Soluna's expanding network of green data centers. CEO Michael Toporek stated that Patman’s experience will significantly enhance the company’s growth trajectory. This appointment follows a $35 million funding deal to advance project financing and reflects Soluna's commitment to maximizing renewable energy efficiency.
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