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Soluna Holdings, Inc. - SLNH STOCK NEWS

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.

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Soluna Holdings, Inc. (NASDAQ: SLNH) reports robust performance in August amid a challenging market for Bitcoin (BTC). The company achieved a 6% increase in BTC production, with its peak hashrate maintaining over 1EH/s. Consolidated cash contribution margins remained steady at 20%, primarily driven by 26% margins from prop mining, despite high energy costs. Furthermore, Soluna has renewed a 10MW hosting agreement, expected to enhance future hosting margins. CEO Michael Toporek emphasizes a focus on energizing the new Dorothy Facility, crucial for scaling operations.

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Soluna Holdings, Inc. (NASDAQ: SLNH) announced a further amendment to its convertible notes issued on October 25, 2021. The maturity date will extend to April 25, 2023, allowing for the release of $1,000,000 on deposit. The company will not need to make a $950,000 escrow deposit or redeem up to $2,200,000 of Notes due on September 29, 2022. In return, the original issue discount on the Notes increases by 4%, raising the total balance to $13,006,022. Noteholders can convert $1,000,000 of Notes to shares at a 20% discount until October 17, 2022.

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Soluna Holdings, Inc. (NASDAQ: SLNH) announced a monthly cash dividend of $0.1875 per share on its 9.0% Series A Cumulative Perpetual Preferred Stock for September 2022, payable on or about September 30, 2022. The record date for shareholders is September 19, 2022. This dividend reflects the company’s commitment to return value to shareholders while focusing on the development of green data centers that utilize excess renewable energy for intensive computing, including cryptocurrency mining.

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Soluna Holdings, Inc. (NASDAQ: SLNH) announced on September 9, 2022, that its subsidiary, Soluna Computing, Inc., has renewed a 10MW hosting contract at Project Marie in Kentucky. This contract allows Soluna to pass through fluctuating power costs and ensures profit-sharing related to potential Bitcoin gains. CEO Michael Toporek emphasized the firm's position as a low-cost Bitcoin miner and noted that this agreement mitigates risks associated with power price volatility. Project Marie is a 25MW data center powered by renewable energy from the Tennessee Valley Authority.

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Soluna Holdings, Inc. (SLNH) announced that CEO Michael Toporek will present at the H.C. Wainwright Annual Global Investment Conference. The event will be held from September 12th to 14th, 2022, with Toporek's presentation scheduled for September 13 at 2:00 p.m. ET at the Lotte New York Plaza Hotel. Soluna specializes in developing green data centers that convert excess renewable energy into computing resources, particularly for cryptocurrency mining and AI. Their innovative approach aims to utilize up to 30% of renewable energy that would otherwise go to waste.

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Soluna Holdings, Inc. (NASDAQ: SLNH) recently published an FAQ addressing key investor inquiries as part of its transparency initiative. CEO Michael Toporek emphasized the company's commitment to transparency and gratitude for investor questions. The FAQ is designed to keep current and potential investors informed about the company's activities and vision. Soluna focuses on developing green data centers for cryptocurrency mining, utilizing renewable energy resources efficiently. More information can be accessed through their official website.

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Soluna Holdings, Inc. (NASDAQ: SLNH) reported its July site level financials, highlighting a 12% increase in BTC Equivalent Mined despite a 12% drop in average BTC prices. The company maintained healthy cash contribution margins of 27% in prop mining and 19% overall, despite challenges in the hosting segment. Notably, a 10MW hosting agreement at Marie is set to expire, with potential for improved margins from any subsequent contracts. CEO Michael Toporek emphasized the importance of investing for long-term value.

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Soluna Holdings (NASDAQ: SLNH) reported robust Q2 results, showcasing a 7.5x year-over-year growth in BTC equivalent mined and a 38.8x increase in hashrate. Revenue for the first half of 2022 surged 6.8x to $18 million. Despite a 6.3% decline in quarterly revenue due to a 21.3% drop in BTC prices, Soluna's cash contribution margins rose 4.0x year-over-year. The company aims to leverage its low-cost energy strategy for long-term growth, despite the current market volatility.

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Soluna Holdings, Inc. (NASDAQ: SLNH) has secured initial funding of up to $12.5 million from Spring Lane Capital, part of a total of $35 million committed for its Dorothy project in Texas. This project aims to develop a 100 MW data center and is designed to convert excess renewable energy into computing resources, enhancing sustainability. CEO Michael Toporek emphasized that this funding will accelerate Soluna’s development pipeline while addressing energy output challenges in collaboration with partner organizations.

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Soluna Holdings, Inc. (NASDAQ: SLNH) declared a regular monthly cash dividend of $0.1875 per share on its 9.0% Series A Cumulative Perpetual Preferred Stock for August 2022. The dividend, payable on August 31, 2022, applies to shareholders of record by the close of business on August 18, 2022. This dividend represents an annualized yield of 9.0% based on the $25.00 liquidation preference. Soluna is focused on sustainable cryptocurrency mining using excess renewable energy, positioning itself as a leader in green data center development.

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FAQ

What is the current stock price of Soluna Holdings (SLNH)?

The current stock price of Soluna Holdings (SLNH) is $2.3 as of December 20, 2024.

What is the market cap of Soluna Holdings (SLNH)?

The market cap of Soluna Holdings (SLNH) is approximately 18.8M.

What does Soluna Holdings, Inc. do?

Soluna Holdings, Inc. specializes in cryptocurrency mining and machine learning using renewable energy-powered data centers.

How does Soluna Holdings ensure sustainability?

The company uses surplus renewable energy to power its data centers, reducing waste and promoting sustainability.

What industries does Soluna Holdings, Inc. serve?

Soluna serves the cryptocurrency mining and machine learning industries.

What recent achievements has Soluna Holdings made?

Recent achievements include expanding data centers and forming strategic partnerships to enhance efficiency and capacity.

What is Soluna Holdings' stock symbol?

The stock symbol for Soluna Holdings, Inc. is SLNH.

How does Soluna Holdings minimize risks in its operations?

The company deploys low-risk, low-friction solutions by utilizing excess renewable energy for its computational processes.

What is the significance of Soluna Holdings' business model?

Soluna's model reduces energy waste and supports sustainable, eco-friendly data center operations.

Does Soluna Holdings have partnerships?

Yes, Soluna has strategic partnerships aimed at improving energy efficiency and expanding their mining capabilities.

Is Soluna Holdings involved in other computing activities besides mining?

Yes, Soluna also engages in machine learning applications through its data centers.

What type of energy powers Soluna's data centers?

Soluna's data centers are powered by renewable energy sources, using surplus energy to operate.

Soluna Holdings, Inc.

Nasdaq:SLNH

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SLNH Stock Data

18.84M
7.15M
27.24%
5.23%
2.86%
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