Soluna Holdings Provides 2022 Earnings Power Illustration

January 19, 2022 at 22:46 PM EST

Demonstrates Energizing 100MW, Scaling to 3EH

ALBANY, N.Y. - (NewMediaWire) - January 19, 2022 - Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH) (NASDAQ: SLNHP), the parent company of Soluna Computing, Inc. ("SCI"), a developer of green data centers for cryptocurrency mining and other intensive computing, today provided its 2022 earnings power illustration.

Michael Toporek, CEO of Soluna Holdings, stated, “Following a strong 2021, we are pleased to provide our 2022 earnings power illustration to help our investors fully comprehend the strength and potential of our business as our team continues to execute on our growth plan. As you will see in the illustration, even at significantly lower BTC prices, we will generate meaningful revenue and strong contribution margin. We remain fully focused on return on invested capital and are excited about our near-term growth objectives as well as our longer-term strategy beyond crypto.”

2022 Corporate Goals

Energize 100 MW - Develop and energize over 100 MW of net new data centers in the US. Upgrade existing facilities to maximize Exahash and production output
Scale 3 EH - Procure, upgrade and deploy mining equipment to increase the company’s combined Hashrate
Originate 600 MW - Expand development pipeline to add over 600 MW of additional BTM projects in the US and beyond with at least 100 MW outside the US
Seed 1 MW GPUs - Develop and energize a 1 MW Cryptocurrency facility with 100% GPUs and sign one contracted pilot customer to serve HPC computing loads

Earnings Power Illustration: Various BTC Prices

(in 000's)	Q1-22	Q2-22	Q3-22	Q4-22	FY22	Q1-23

Scenario 1: BTC is $20,000
Total Revenue	6,528	7,450	12,062	20,104	46,145	25,393

Contribution Margin (Non-GAAP)	3,437	3,932	7,344	13,372	28,085	17,483
Contribution Margin %	52.6%	52.8%	60.9%	66.5%	60.9%	68.8%
Run-Rate Contribution Margin	13,747	15,728	29,377	53,487	-	69,930


Scenario 2: BTC is $45,000
Total Revenue	10,328	14,612	22,223	35,300	82,462	42,755

Contribution Margin (Non-GAAP)	7,236	11,093	17,505	28,567	64,402	34,845
Contribution Margin %	70.1%	75.9%	78.8%	80.9%	78.1%	81.5%
Run-Rate Contribution Margin	28,945	44,374	70,022	114,268	-	139,378


Scenario 3: BTC is $60,000
Total Revenue	12,667	19,220	29,164	46,394	107,445	56,334

Contribution Margin (Non-GAAP)	9,575	15,702	24,446	39,662	89,385	48,424
Contribution Margin %	75.6%	81.7%	83.8%	85.5%	83.2%	86.0%
Run-Rate Contribution Margin	38,301	62,808	97,785	158,647	-	193,697

Combined Gross PH/s	1,000	1,261	2,001	3,008	3,008	4,000

A presentation and corresponding video is available on the Company’s website at https://www.solunacomputing.com/investors/updates/2022powerillustration/

About Soluna Holdings, Inc.

Soluna Holdings, Inc. (Nasdaq: SLNH) 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 cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna’s MTI Instruments division manufactures precision tools and testing equipment for electronics, aviation, automotive, power and other industries. Both Soluna and MTI Instruments use 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.’

For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.

Forward Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

Investor Relations:

Kirin Smith, President
PCG Advisory, Inc.
646.823.8656
Ksmith@pcgadvisory.com

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Soluna Holdings Provides 2022 Earnings Power Illustration

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