Soluna Holdings, Inc. - SLNH STOCK NEWS

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.

Soluna Holdings, Inc. (NASDAQ: SLNH) will participate in the Water Tower Research Fireside Chat Series on November 29, 2022, at 12:00 PM EST, featuring CEO John Belizaire. The event is open to all investors and will discuss topics related to renewable energy support, green Bitcoin mining outlook, future market structures, and AI’s impact on the energy grid. Interested participants can register for live access and enjoy a replay post-event. Soluna is recognized for its innovation in green data centers that optimize excess renewable energy for cryptocurrency mining and computing applications.

Soluna Holdings, Inc. (NASDAQ: SLNH) reported third-quarter financial results for 2022, showing significant growth in revenue and operational capacity. Total revenue increased to $6.4 million from $3.1 million year-over-year, driven by enhanced operations. Cryptocurrency mining revenue rose to $5.4 million, up from $2.0 million, while net loss surged to $(55.9) million, impacted by $28.1 million in asset impairments. The company is focused on energizing Project Dorothy, which promises to double its capacity and become one of North America's lowest-cost facilities.

Soluna Holdings, Inc. (SLNH) released its September financial results, indicating stable BTC production with a minor 3% decrease despite market fluctuations. Key highlights include improved cash contribution margins, which reached 30% in September, and a profitable restructuring of a 10MW hosting agreement, boosting margins to 35%. CEO Michael Toporek noted that steps to enhance liquidity are ongoing as the company prepares for Project Dorothy, potentially doubling their operational capacity. September margins improved even amidst an 11% drop in BTC prices, reflecting resilience in a challenging environment.

Soluna Holdings, Inc. (NASDAQ: SLNH) announced the pricing of a public offering of 1,388,889 shares at $1.44 per share. The company plans to issue an additional 593,065 shares to Spring Lane upon the conversion of a promissory note. The offering aims to raise capital for the acquisition and development of data centers, including cryptocurrency mining processors and electrical infrastructure. The offering is expected to close by October 26, 2022.

Soluna Holdings, Inc. (NASDAQ: SLNH) plans to conduct an underwritten public offering of its common stock, with all shares being sold by the Company. Univest Securities, LLC will manage the offering and may also purchase an additional 15% of shares for over-allotments. The proceeds will support data center acquisition and growth, including cryptocurrency mining equipment and infrastructure, particularly in Texas. The offering is subject to market conditions and the final terms may vary. Investors should review the preliminary prospectus supplement for comprehensive details.