Soluna Holdings, Inc. - SLNH STOCK NEWS

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.

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.

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.

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.

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.

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.

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.

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.

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.