reports
- Graham Mattison
Fireside Chat Highlights the Value of Soluna's Proprietary Technologie...
We recently hosted Soluna Computing Chief Technology Officer Dipul Patel for a fireside chat, which included a discussion of the recent operational execution at Project Sophie and Project Dorothy, the success of the company’s proprietary operating software Maestro OS, and how Soluna’s technology can support the massive growth of AI. This report contains a transcript of the fireside chat from October 10, 2023, which can be accessed here. Soluna’s technology delivers flawless performance at Proje...
- Graham Mattison
Another Milestone Hit; Cash Flow Contributions Building; Corporate Tra...
Project Dorothy 1 is now fully energized at 50 MW. The company has installed more than 15,000 machines, giving the site more than 1.76 EH/s. Project Dorothy 1 is also operating at a record-breaking power usage effectiveness (PUE) of 1.01, further highlighting the efficiency of Soluna’s modular data centers and the company’s proprietary system Maestro OS (™), which has flawlessly managed power curtailment through the record heat this summer. Fireside chat with CTO Dip Patel on October 10 at 11:00...
- Graham Mattison
In-line 2Q; Look for Improving Results in 2H and Beyond as New Project...
Reported in-line 2Q results. As expected, revenues of $2.1 million were down from 1Q23 and 2Q22, as the company shifted to hosting contracts at its data centers rather than proprietary Bitcoin mining where it recognized both higher revenues and costs. G&A expenses declined sequentially and Y/Y from ongoing cost structure rationalization efforts. We note that 2Q23 did include higher legal costs related to the multiple project signings in the quarter. Significantly improved balance sheet positio...
- Graham Mattison
Fireside Chat Highlights Recent Execution and Improving Outlook
We recently hosted Soluna Holdings new CEO John Belizaire for a fireside chat, which included a discussion of the recent milestones reached at multiple projects, cash flow contributions from the growing project portfolio, and the development pipeline that has more than doubled in the past three months. This report contains a transcript of the fireside chat from July 25, 2023, which can be accessed here. Momentum building after hitting key milestones. Belizaire highlighted some of the recent acco...
- Graham Mattison
Recent Outside Investments in Existing Projects Imply SLNH's Valuation...
Current market valuation only gives credit for existing projects, making the project pipeline a free option. Earlier this year, Spring Lane Capital and Navitas Global bought their project stakes at an implied valuation of $566K and $941K per MW of capacity. Using the average price paid gives a $31.3 million value for Soluna’s 100% share of Project Sophie and a 15% and 51% share of Project Dorothy 1A and 1B, about equal to the current $31.9 million enterprise value (Source: YCharts). Using the hi...
- Graham Mattison
Soluna Has Turned the Corner; Dorothy 1A and 1B Fully Booked; Valuatio...
Turnaround complete. In recent weeks, Soluna has received interconnection approval for all 100 MW at its flagship Project Dorothy, secured contracts and is energizing the first 50 MW (1A and 1B), reached a 14-month extension on its October convertible notes, and now sees itself being operating cash flow positive in 2H23. We expect these accomplishments will allow investors to see the value of its existing assets and its pipeline rather than focus on near-term liquidity concerns and regulatory ap...
- Graham Mattison
Fireside Chat Highlights Project Dorothy Energization and Its Potentia...
We recently hosted Soluna Holdings Chief Executive Officer John Belizaire for a fireside chat, which included a discussion of the long-awaited energization of Project Dorothy, recent and potential contract wins, along with the future development pipeline. This report contains a transcript of the fireside chat from April 27, 2023, which can be accessed on demand and on our website. Soluna is turning the corner. The answers and commentary on the call were by far the most upbeat and encouraging th...
Soluna Holdings, Inc. Extends Maturity Date of October Notes to April ...
Soluna Holdings, Inc. Extends Maturity Date of October Notes to April 2023 ALBANY, NY, Sept. 13, 2022 (GLOBE NEWSWIRE) -- via – 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 that it has entered into a further amendment to its convertible notes (the “Notes”) which were issued on October 25, 2021. The Company has agreed with the noteholders to amend the terms of the Notes and to extend the Notes’ maturity date u...
Soluna Holdings, Inc. Announces Monthly Dividend for Series A Preferre...
Soluna Holdings, Inc. Announces Monthly Dividend for Series A Preferred Stock ALBANY, NY, Sept. 09, 2022 (GLOBE NEWSWIRE) -- via Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), formerly Mechanical Technology, Inc., the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for cryptocurrency mining and other intensive computing, today announced that its Board of Directors has declared the regular monthly cash dividend on its shares of 9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”...
Soluna Renews Project Marie Hosting Contract
Soluna Renews Project Marie Hosting Contract ALBANY, NY, Sept. 09, 2022 (GLOBE NEWSWIRE) -- via Soluna Holdings, Inc. (“SLNH” or “Soluna Holdings”), (NASDAQ: SLNH), today announced that its subsidiary, Soluna Computing, Inc. (“SCI” or “Soluna Computing”), has renewed and extended a 10MW hosting contract with its customer at its Project Marie site in Kentucky. The new contract enables Soluna to pass through power costs and protect against the risk associated with recently volatile power prices. It also enables Soluna to receive a meaningful profit share, allowing exposure to the pote...
Soluna Holdings, Inc. to Present at the H.C. Wainwright Annual Global ...
Soluna Holdings, Inc. to Present at the H.C. Wainwright Annual Global Investment Conference ALBANY, NY, Sept. 07, 2022 (GLOBE NEWSWIRE) -- -- Soluna Holdings, Inc. (SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for cryptocurrency mining and other intensive computing, today announced that Michael Toporek, CEO of Soluna Holdings, will present at the H.C. Wainwright Annual Global Investment Conference. Event: H.C. Wainwright Annual Global Investment ConferenceDate: September 12th - 14th, 2022Presentation: Tuesday, September 13 @ 2:00 ...
Soluna CEO Michael Toporek Answers Investors’ Frequently Asked Questio...
Soluna CEO Michael Toporek Answers Investors’ Frequently Asked Questions ALBANY, NY, Sept. 01, 2022 (GLOBE NEWSWIRE) -- via Soluna Holdings, Inc. (“SHI”, “Soluna” 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 posted on its website responses to certain Frequently Asked Questions (FAQ) by Soluna CEO Michael Toporek. The FAQ is part of the Company’s ongoing “ and highlights topics requested from current and potential investors. Toporek said, “Over the pa...
Soluna Holdings Announces July Site Level Financials
Soluna Holdings Announces July Site Level Financials ALBANY, NY, Aug. 18, 2022 (GLOBE NEWSWIRE) -- via 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 July site level financials. Michael Toporek, CEO of Soluna Holdings, stated, “Despite Bitcoin remaining around $20,000 and challenging power markets, Soluna has been able to maintain healthy margins and increase computing power. As a result of th...
Soluna Holdings, Inc. Reports Second Quarter Results
Soluna Holdings, Inc. Reports Second Quarter Results ALBANY, NY, Aug. 15, 2022 (GLOBE NEWSWIRE) -- via – 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 second quarter results. Michael Toporek, CEO of Soluna Holdings, Inc., said, “Despite the decline in the BTC price, our second quarter results represent significant year-over-year growth as the team continues to execute on our long-term plan. So...
Soluna Holdings, Inc. to Present at Investor Summit Group's Q3 Virtual...
Albany, New York--(Newsfile Corp. - August 12, 2022) - Soluna Holdings, Inc. (NASDAQ: SLNH) today announced that Michael Toporek, CEO of Soluna Holdings will be attending the Q3 Virtual Investor Summit. Soluna Holdings, Inc. is the leading developer of green, modular, scalable data centers for computing-intensive, batchable applications such as cryptocurrency mining, AI, and machine learning, powered by wasted renewable energy. Event: Q3 Investor Summit Date: August 16 & 17th, 2022 Presentation: August 16 @ 2:45 p.m. ET Location: 1x1s will be available for qualified investorsThe conference...
Soluna Holdings, Inc. Announces Initial Funding from Spring Lane Capit...
Soluna Holdings, Inc. Announces Initial Funding from Spring Lane Capital ALBANY, NY, Aug. 11, 2022 (GLOBE NEWSWIRE) -- – 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 initial funding of up to $12.5 million from funds managed by Spring Lane Capital, a private equity firm focused on hybrid project capital for sustainability solutions in the energy, food, water, waste and transportation industries. The funding ...
Soluna Holdings, Inc. Announces Monthly Dividend for Series A Preferre...
Soluna Holdings, Inc. Announces Monthly Dividend for Series A Preferred Stock ALBANY, NY, Aug. 08, 2022 (GLOBE NEWSWIRE) -- via – Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), formerly Mechanical Technology, Inc., the parent company of Soluna Computing, Inc. (“SCI”), a cryptocurrency mining business powered by renewable energy, today announced that its Board of Directors has declared the regular monthly cash dividend on its shares of 9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”) for the month ended August ...
Soluna Appoints Phil Patman Jr. from Ameresco as Chief Financial Offic...
Soluna Appoints Phil Patman Jr. from Ameresco as Chief Financial Officer Patman brings more than 25 years of business growth experience in global energy markets ALBANY, NY, Aug. 03, 2022 (GLOBE NEWSWIRE) -- via 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, has announced the appointment of Phil Patman Jr. as Chief Financial Officer (CFO). As CFO, Patman will spearhead finance and accounting with a specific focus on capital m...
Soluna Holdings, Inc. Announces Series B Convertible Preferred Financi...
Soluna Holdings, Inc. Announces Series B Convertible Preferred Financing and Amendment to Convertible Note ALBANY, NY, July 20, 2022 (GLOBE NEWSWIRE) -- via – 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 two recent financing developments that serve to increase capital structure flexibility and fund the Company’s near-term growth pipeline. The developments, which involved several longstanding investors in the Co...
Soluna Holdings Announces June Site Level Financials
Soluna Holdings Announces June Site Level Financials Despite Continued BTC Price Decreases in June, Soluna Continues to Grow Hashrate and Intends to Invest through the Cycle ALBANY, NY, July 20, 2022 (GLOBE NEWSWIRE) -- via 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 June site level financials. Michael Toporek, CEO of Soluna Holdings, stated, “Soluna continues to prove its business...
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