Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Soluna Holdings Announces May Site Level Financials By: NewMediaWire June 16, 2022 at 18:21 PM EDT Despite BTC Price Decreases, Soluna Meets Margin Expectations and Grows HashrateALBANY, NY - (NewMediaWire) - June 16, 2022 - Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for cryptocurrency mining and other intensive computing, today announced the release of its May site level financials.Michael Toporek, CEO of Soluna Holdings, stated, “Our company was engineered from inception to thrive in a difficult Bitcoin downturn. We specifically focused on building a strong operating base of ultra-low-cost power data centers. It is this kind of difficult environment that will demonstrate to our investors the value of what our team has built.”Toporek added, “Our Dorothy project is expected to energize at least 20 MW by September, which is about 600 PH. We are working with the Texas regulator to assure security of the grid as we ramp to 100 MW. For project Marie, we expect to re-formulate our hosting deal in September 2022 or convert those slots to proprietary capacity, which is about 300 PH.”Key Summary Highlights:Significant ramp in May boosts performance despite low BTC pricesBTC equivalent mined was the same* Month-over-Month despite average BTC prices decreasing by 23%Average Hashrate deployed grew 22% Month-over-Month**Drivers to margin growthSite margins meeting expectations in low BTC price environmentSophie moved to its 84% uptime for power costs of 2.5-2.7 ¢ per kWhContinued focus to hit Q2 2022 EH targetAs of June 4, 1.021 EH/s plugged in*Includes pro-forma impact of forced shutdown at Marie in April.**Excludes pro-forma impact of forced shutdown at Marie in AprilRevenue & Contribution Margin Summary:($ in 000s, Unaudited) (Estimate) Q1 2021Q2 2021Q3 2021Q4 2021FY 21Q1 2022May 2022Revenue$995$1,657$2,368$7,990$13,010$9,264$3,004 Cash Contribution Margin$744$1,261$1,703$5,179$8,888$5,206$1,595 Annualized Revenue$3,980$6,628$9,472$31,960$13,010$37,056$36,048 Annualized Contribution Margin$2,976$5,044$6,812$20,716$8,888$20,824$19,140 A presentation and corresponding video is available on the Company’s website at:https://www.solunacomputing.com/investors/updates/may2022flash/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 cryptocurrency 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.’For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings. Contact InformationSam SovaVP, MarketingSoluna Computingsam@soluna.io+414 699 3667MZ ContactBrian M. Prenoveau, CFAMZ Group – MZ North AmericaSLNH@mzgroup.us+561 489 5315View the original release on www.newmediawire.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Soluna Holdings Announces May Site Level Financials By: NewMediaWire June 16, 2022 at 18:21 PM EDT Despite BTC Price Decreases, Soluna Meets Margin Expectations and Grows HashrateALBANY, NY - (NewMediaWire) - June 16, 2022 - Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for cryptocurrency mining and other intensive computing, today announced the release of its May site level financials.Michael Toporek, CEO of Soluna Holdings, stated, “Our company was engineered from inception to thrive in a difficult Bitcoin downturn. We specifically focused on building a strong operating base of ultra-low-cost power data centers. It is this kind of difficult environment that will demonstrate to our investors the value of what our team has built.”Toporek added, “Our Dorothy project is expected to energize at least 20 MW by September, which is about 600 PH. We are working with the Texas regulator to assure security of the grid as we ramp to 100 MW. For project Marie, we expect to re-formulate our hosting deal in September 2022 or convert those slots to proprietary capacity, which is about 300 PH.”Key Summary Highlights:Significant ramp in May boosts performance despite low BTC pricesBTC equivalent mined was the same* Month-over-Month despite average BTC prices decreasing by 23%Average Hashrate deployed grew 22% Month-over-Month**Drivers to margin growthSite margins meeting expectations in low BTC price environmentSophie moved to its 84% uptime for power costs of 2.5-2.7 ¢ per kWhContinued focus to hit Q2 2022 EH targetAs of June 4, 1.021 EH/s plugged in*Includes pro-forma impact of forced shutdown at Marie in April.**Excludes pro-forma impact of forced shutdown at Marie in AprilRevenue & Contribution Margin Summary:($ in 000s, Unaudited) (Estimate) Q1 2021Q2 2021Q3 2021Q4 2021FY 21Q1 2022May 2022Revenue$995$1,657$2,368$7,990$13,010$9,264$3,004 Cash Contribution Margin$744$1,261$1,703$5,179$8,888$5,206$1,595 Annualized Revenue$3,980$6,628$9,472$31,960$13,010$37,056$36,048 Annualized Contribution Margin$2,976$5,044$6,812$20,716$8,888$20,824$19,140 A presentation and corresponding video is available on the Company’s website at:https://www.solunacomputing.com/investors/updates/may2022flash/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 cryptocurrency 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.’For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings. Contact InformationSam SovaVP, MarketingSoluna Computingsam@soluna.io+414 699 3667MZ ContactBrian M. Prenoveau, CFAMZ Group – MZ North AmericaSLNH@mzgroup.us+561 489 5315View the original release on www.newmediawire.com
Despite BTC Price Decreases, Soluna Meets Margin Expectations and Grows HashrateALBANY, NY - (NewMediaWire) - June 16, 2022 - Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for cryptocurrency mining and other intensive computing, today announced the release of its May site level financials.Michael Toporek, CEO of Soluna Holdings, stated, “Our company was engineered from inception to thrive in a difficult Bitcoin downturn. We specifically focused on building a strong operating base of ultra-low-cost power data centers. It is this kind of difficult environment that will demonstrate to our investors the value of what our team has built.”Toporek added, “Our Dorothy project is expected to energize at least 20 MW by September, which is about 600 PH. We are working with the Texas regulator to assure security of the grid as we ramp to 100 MW. For project Marie, we expect to re-formulate our hosting deal in September 2022 or convert those slots to proprietary capacity, which is about 300 PH.”Key Summary Highlights:Significant ramp in May boosts performance despite low BTC pricesBTC equivalent mined was the same* Month-over-Month despite average BTC prices decreasing by 23%Average Hashrate deployed grew 22% Month-over-Month**Drivers to margin growthSite margins meeting expectations in low BTC price environmentSophie moved to its 84% uptime for power costs of 2.5-2.7 ¢ per kWhContinued focus to hit Q2 2022 EH targetAs of June 4, 1.021 EH/s plugged in*Includes pro-forma impact of forced shutdown at Marie in April.**Excludes pro-forma impact of forced shutdown at Marie in AprilRevenue & Contribution Margin Summary:($ in 000s, Unaudited) (Estimate) Q1 2021Q2 2021Q3 2021Q4 2021FY 21Q1 2022May 2022Revenue$995$1,657$2,368$7,990$13,010$9,264$3,004 Cash Contribution Margin$744$1,261$1,703$5,179$8,888$5,206$1,595 Annualized Revenue$3,980$6,628$9,472$31,960$13,010$37,056$36,048 Annualized Contribution Margin$2,976$5,044$6,812$20,716$8,888$20,824$19,140 A presentation and corresponding video is available on the Company’s website at:https://www.solunacomputing.com/investors/updates/may2022flash/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 cryptocurrency 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.’For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings. Contact InformationSam SovaVP, MarketingSoluna Computingsam@soluna.io+414 699 3667MZ ContactBrian M. Prenoveau, CFAMZ Group – MZ North AmericaSLNH@mzgroup.us+561 489 5315View the original release on www.newmediawire.com