SOLUNA HOLDINGS INC - SLNH STOCK NEWS

Soluna Holdings, Inc. (NASDAQ: SLNH) has drawn down $1.186 million for Project Dorothy, a 50 MW data center in Texas, without selling equity. This funding aims to finalize construction and interconnect the project to the grid, aiming to achieve 2.2 EH/s Bitcoin mining capacity and generate $28 million annually. Project Dorothy is expected to become one of North America's lowest-cost facilities. CEO Michael Toporek highlighted the project's rapid progress toward energization.

Soluna Holdings, Inc. (NASDAQ: SLNH) announced its flagship Project Dorothy, a 50 MW green data center at a Texas wind farm, featured in a Black History Month segment by KLBK News. Named after pioneering mathematician Dorothy Vaughan, the project embodies innovation in renewable energy. The company specializes in creating data centers that convert excess renewable energy into computing resources for Bitcoin mining and AI applications. CEO Michael Toporek highlighted Vaughan's legacy as an inspiration for a clean energy future.

Soluna Holdings, Inc. (NASDAQ: SLNH) announced significant progress on Project Dorothy, its 50 MW green data center in Texas, which has successfully passed the modeling phase in the ERCOT Large Flexible Load approval process. This advancement allows the project to transition into operations, aiming for future energization. The facility is expected to accommodate 16,000 miners and generate 2.2 exahashes per second (EH/s) upon initial deployment, potentially reaching 4.4 EH/s at full capacity. The annualized revenue for clients is projected at $55 million. Project Dorothy is poised to become a leading low-cost facility in North America.

Soluna Holdings, Inc. (NASDAQ: SLNH) has signed a non-binding Letter of Intent to secure financing for Project Dorothy, its Texas-based 50 MW facility aimed at Bitcoin mining and intensive computing. The planned transactions will involve a partial sale of the company's equity interests in Project Dorothy and a modest loan, without requiring new equity issuance. This effort is essential to energize the site with regulators. CEO Michael Toporek emphasized the importance of this financing to move forward with the project, which is expected to be among the lowest-cost facilities of its kind in North America.

Soluna Holdings, Inc. (NASDAQ: SLNH) announced a significant milestone for its flagship Project Dorothy, a 50 MW green data center in Texas. Successfully exiting the planning phase of the ERCOT Large Flexible Load approval process, the project now enters the modeling phase, setting a Production Load Forecast Date for February 8, 2023. CEO Michael Toporek highlighted the project’s potential to double operational capacity and serve as a model for future endeavors. Additionally, the project aligns with the Renewable Energy sector’s growth, aided by incentives from the Inflation Reduction Act.

Soluna Holdings, Inc. (NASDAQ: SLNH) released its October financials, reporting a 1% decline in Bitcoin mined and a record average hashrate of 919.7 PH/s, up 3% from September. Despite healthy cash contribution margins, these decreased due to rising power prices. However, power costs are expected to decline in December. New hosting contracts implemented in September now pass 100% of power costs to hosted customers, significantly impacting financial metrics.

Soluna Holdings, Inc. (NASDAQ: SLNH) is advancing its Project Dorothy, a 50MW green data center in Texas, expected to energize in Q1 2023. The project is in the final stages of planning before transitioning to operations, with a targeted energization date in early February to early March. Upon completion, Dorothy aims to be among North America's lowest-cost facilities for Bitcoin mining, with projected cash inflows of $2.196M to $3.534M based on current market conditions. CEO Michael Toporek emphasizes the project's potential to drive renewable energy use.

Soluna Holdings, Inc. (NASDAQ: SLNH) has entered into a Securities Purchase Agreement to raise approximately $855,000 through the sale of 1,125,000 shares of common stock and warrants for 2,250,000 shares at an exercise price of $0.76. The funds will be utilized for the development of data centers and general corporate purposes, including the Project Dorothy facility. The offering is expected to close around December 5, 2022 and could lead to a potential aggregate exercise price of $1,710,000 if all warrants are exercised.

Soluna Holdings, Inc. (NASDAQ: SLNH) released a recording and transcript featuring CEO John Belizaire in the Water Tower Research Fireside Chat Series. Discussion topics included the role of Soluna's data centers in promoting renewable energy, the outlook for green Bitcoin mining amid recent market fluctuations, and future market structures for a renewable grid. An update was provided on Project Dorothy, which is progressing toward energization in Texas.