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Soluna Holdings, Inc. (symbol: SLNH) is a leading U.S.-based company at the forefront of renewable energy-powered data centers. Primarily engaged in cryptocurrency mining, Soluna leverages surplus energy to power its data centers, ensuring an eco-friendly and sustainable approach. The company operates through its subsidiary, focusing on batch-oriented, computing-intensive processes, which include not only cryptocurrency mining but also machine learning applications.
Soluna's innovative model mitigates energy waste by consuming every excess megawatt, making it a low-risk, low-friction solution adaptable for various computational needs. The company's recent achievements include expanding their data centers to support larger computational loads and forming strategic partnerships to enhance their energy efficiency and mining capabilities.
Soluna Holdings' commitment to renewable energy and sustainable operations positions it uniquely in the market, catering to the growing demand for environmentally conscious and technologically advanced solutions. With a robust financial footing and continuous advancements in their technology, Soluna is poised to make significant contributions to the cryptocurrency mining and machine learning industries.
Soluna Holdings (NASDAQ: SLNH) has expanded its partnership with Bit Digital (NASDAQ: BTBT) through a new 12-month 5.5 MW hosting contract at Project Dorothy in Texas. This expansion marks a significant growth in their collaboration, which began with a 4.4 MW deployment at Project Sophie in November 2023, increased to 6.6 MW by October 2024, and now exceeds 12 MW in total hosting capacity.
The latest expansion introduces next-generation S21 mining units and includes upgrades to the site's electrical infrastructure. This partnership enhancement aims to improve Bit Digital's efficiency, scale, and mining performance while maintaining Soluna's commitment to providing sustainable energy solutions for intensive computing applications including Bitcoin mining and AI.
Soluna Holdings (NASDAQ: SLNH) has successfully completed the ERCOT planning phase for Project Kati, a significant milestone in developing a green data center for Bitcoin mining and AI applications. The project will deliver up to 166 MW of renewable energy capacity in two phases.
The company is finalizing land negotiations to accommodate both phases and future AI opportunities. Project Kati's next steps include capital formation activities, exploring AI joint venture opportunities, and conducting HPC site analysis. Construction is planned to begin in 2025, with the first phase delivering 83 MW. Upon completion of this phase, Soluna would manage over 206 MW for Bitcoin Mining and Hosting.
The project, named after scientist Katalin 'Kati' Karikó, aims to expand renewable computing infrastructure for innovative computing applications while providing 'white glove' service through their Relentless Stewardship approach.
Soluna Holdings (NASDAQ: SLNH) has released its January 2025 operations update, highlighting progress across multiple projects. Project Dorothy 1A and 1B underwent a planned one-week outage for substation interconnection and network upgrades, now operating at full capacity. Project Dorothy 2 (48 MW) completed its substation interconnection, with initial energization expected in late February and Phase 1 commissioning in early April.
Project Sophie (25 MW) is operating at 65% capacity due to utility substation equipment failure, with repairs expected in March. Project Ada launched a new 128-GPU Atlas Cloud cluster on February 4th, with two new GPU contracts in final negotiations. The AI pipeline now exceeds 1,500 Nvidia H100 GPUs. Project Kati (166 MW) is finalizing design scope for its first 83 MW of Bitcoin Hosting, with supplier negotiations ongoing.
Soluna Holdings (NASDAQ: SLNH) has released its December 2024 business update, highlighting significant achievements and project developments. The company reached a milestone of 100 GWh in curtailed energy monetization at Project Dorothy, equivalent to powering approximately 11,500 H100s annually.
Key developments include new AI partnerships with San Francisco Compute Company and Atlas Cloud, involving the deployment of Nvidia H100 GPUs. The company completed the final conversion and payoff of outstanding convertible notes and launched a partnership with Gynger for flexible AI financing.
Project updates include progress on Dorothy 1A and 1B (25MW each), with new customer deployments and resolved transformer issues. Dorothy 2 (48MW) continues construction with Phase 1 (16MW) advancement. The AI pipeline now exceeds 864 H100 GPUs, with Project Ada securing new commitments and Project Sophie operating at full capacity.
Soluna Holdings (NASDAQ: SLNH) has announced a new agreement with Atlas Cloud to provide sustainable AI computing services. The one-year deal involves supplying 64 Nvidia H100 GPUs to support Atlas's advanced AI video processing workloads, with potential for scaling.
This marks Soluna's second customer through their strategic collaboration with HPE GreenLake, having now sold one-third of their initial cluster. The deployment will begin with a test phase before going live in production with the initial GPUs in late January.
The partnership aims to deliver sustainable, high-performance AI cloud services while supporting Atlas Cloud's mission to provide a comprehensive AI cloud platform, from hardware to inferencing and model services, particularly focusing on AI-driven video and image generation.
Soluna Holdings (NASDAQ: SLNH) has appointed Ernest Popescu to its advisory board. Popescu, currently CEO and founder of Metrobloks, brings extensive experience in data center infrastructure from his previous roles at Amazon Web Services, Meta, and Iron Mountain Data Centers. At Iron Mountain, he developed opportunities exceeding 2 GW across the US and Europe. The appointment aligns with Soluna's focus on developing green data centers for intensive computing applications, including Bitcoin mining and AI.
Popescu's expertise in both 'develop and sell' and 'develop and buy' models positions him as a strategic addition to Soluna's advisory board, supporting the company's expansion of Renewable Computing solutions for AI.
Soluna Holdings (NASDAQ: SLNH) has announced a strategic partnership between its subsidiary Soluna Cloud and Gynger, an embedded payments platform. The collaboration aims to make renewable-powered high-performance computing solutions more accessible by providing flexible payment options to customers. Through this partnership, clients can access Soluna's AI Cloud services without significant upfront costs.
The partnership enables Soluna's customers to access non-dilutive capital and cash-flow management tools for efficient technology expense management. This financial flexibility allows clients to scale their operations while maintaining operational continuity. The initiative aligns with both companies' goals of making sustainable digital infrastructure more accessible across various industry sectors.
Soluna Holdings (NASDAQ: SLNH) has successfully completed the final conversion and payoff of its outstanding convertible notes through a one-time reprice of the conversion price. This transaction eliminated approximately $772,000 in remaining note balances from the company's balance sheet.
The debt clearance represents a strategic move to strengthen Soluna's financial position and increase flexibility for future growth, particularly in its core business areas of AI, renewable energy, and high-performance computing solutions. CEO John Belizaire emphasized that this milestone enables the company to focus its capital formation efforts on data center project development and pipeline growth.
Soluna Holdings (NASDAQ: SLNH), a developer of green data centers for Bitcoin mining and AI, announced its November updates. The company highlighted a $18.8 million increase in year-to-date revenue for Q3-2024, achieving a record $29.7 million. Key project updates include:
- Project Dorothy 1A & 1B: Two new customer deployments totaling 20 MW of upgraded equipment.
- Project Dorothy 2: Completion of the substation interconnection civil scope with electrical tie-in scheduled for mid-January.
- Project Grace: Microgrid and cooling designs for behind-the-meter integration are underway.
- Project Ada: Signed a deal with SFCompute for on-demand GPUs, live as of December 1st.
- Project Sophie: Continued high-level operation with cooler temperatures.
- Project Kati: Phase 1 of substation interconnection civil scope is underway.
CEO John Belizaire appeared on the Humans in AI Podcast, and CFO John Tunison participated in a Fireside Chat with Water Tower Research.
Soluna Holdings (NASDAQ: SLNH) has signed a Master Services Agreement with San Francisco Compute Company to provide custom AI cloud solutions. Soluna will initially supply 80 Nvidia H100 GPUs, potentially scaling to 120 GPUs, from its AI cloud infrastructure to SF Compute. This partnership is the first customer engagement from Soluna's collaboration with HPE GreenLake. The deal could generate a maximum revenue of $2.466 million over one year. The agreement includes flexible usage models, robust security, and compliance with global data privacy standards. SF Compute will go live with the initial GPUs by the end of this week.
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