Welcome to our dedicated page for Soluna Holdings news (Ticker: SLNH), a resource for investors and traders seeking the latest updates and insights on Soluna Holdings stock.
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 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.
Soluna Holdings reported strong Q3 2024 financial results, with revenue increasing 30% to $7.5 million compared to Q3 2023. Year-to-date revenue reached a record $29.7 million, up 172% from 2023. The company secured significant funding, including $30 million for Project Dorothy expansion and a $25 million growth capital line. Key developments include launching Soluna Cloud AI business with HPE partnership, breaking ground on Project Dorothy 2, and expanding their development pipeline to 2.6 GW. Year-to-date adjusted EBITDA improved to $3.5 million from a $4.5 million loss in 2023, while unrestricted cash grew 38% to $8.8 million.
Soluna Holdings (NASDAQ: SLNH) has released its October business update, highlighting progress across multiple projects. The company is advancing on its $25 million Standby Equity Purchase Agreement and has completed several corporate initiatives, including webinars and AMAs. Key operational updates include: Project Dorothy 1A/1B (50MW total) maintaining high performance, Project Dorothy 2 (48MW) completing initial site preparation, and Project Grace (2MW) nearing completion of its Helix data center design. The company's AI initiatives show progress with Project Ada having 10 proof-of-concept projects and a waitlist of 128 nodes with 1,024 GPUs.
Soluna Holdings, Inc. (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, has announced its participation in the Water Tower Research Fireside Chat Series. John Tunison, CFO of Soluna, will be presenting on Wednesday, October 16, 2024 at 1:00 PM ET.
The event, open to all investors, will cover several key topics, including:
- Discussion of the recently announced $25 million growth capital line
- Updates on convertible debt and preferred shares
- Financing options for new growth opportunities, such as the 166 MW Project Kati, the 187 MW Project Rosa, and the acquisition of new sites for AI data centers
Interested parties can register for the event using the provided link. Replays of the webcast will be available after the event.
Soluna Holdings, Inc. (NASDAQ: SLNH) has released its September business update, highlighting progress across various projects. Key developments include:
1. Signing a term sheet for Project Rosa, adding 187 MW of sustainable energy capacity.
2. Project Dorothy 1A and 1B (50 MW total) completed optimization efforts and successfully participated in ancillary services.
3. Project Dorothy 2 (48 MW) is progressing with site grading and concrete pouring.
4. New Project Grace (2 MW) and Project Ada (1 MW) are advancing in AI cloud and hosting services.
5. Project Sophie (25 MW) is preparing for a fleet upgrade and expansion.
6. Project Kati (166 MW) continues negotiations for land leases.
The company also published new blogs on AI's energy consumption and the convergence of AI with renewable energy.
Soluna Holdings, Inc. (NASDAQ: SLNH) has announced critical milestones towards accessing a $25 million Standby Equity Purchase Agreement (SEPA) with Yorkville Advisors Global L.P. The company has reached agreements with its convertible noteholders and the holder of its Series B Preferred Stock, satisfying key conditions for the SEPA.
Key points include:
- Convertible noteholders will consent to the SEPA and waive participation rights in exchange for a $750,000 waiver fee and other considerations.
- The Series B Preferred stockholder will consent to the SEPA and agree to certain limitations in exchange for repricing of conversion and warrants.
- Soluna plans to use the financing to retire existing Convertible Notes, fund AI operations and data center development, and strengthen its balance sheet.
- Operational plans include advancing AI data center designs, preparing for Project Grace, and accelerating development of large-scale projects.
FAQ
What is the current stock price of Soluna Holdings (SLNH)?
What is the market cap of Soluna Holdings (SLNH)?
What does Soluna Holdings, Inc. do?
How does Soluna Holdings ensure sustainability?
What industries does Soluna Holdings, Inc. serve?
What recent achievements has Soluna Holdings made?
What is Soluna Holdings' stock symbol?
How does Soluna Holdings minimize risks in its operations?
What is the significance of Soluna Holdings' business model?
Does Soluna Holdings have partnerships?
Is Soluna Holdings involved in other computing activities besides mining?