SOLUNA HOLDINGS INC - SLNH STOCK NEWS

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.

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.

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.

Soluna Holdings, Inc. (NASDAQ: SLNH) has appointed Phil Patman Jr. as Chief Financial Officer, effective August 16th. Patman has over 25 years in finance operations, recently serving at Ameresco as VP of Renewable Fuels M&A. His role will focus on capital markets and acquisitions for Soluna's expanding network of green data centers. CEO Michael Toporek stated that Patman’s experience will significantly enhance the company’s growth trajectory. This appointment follows a $35 million funding deal to advance project financing and reflects Soluna's commitment to maximizing renewable energy efficiency.

Soluna Holdings, Inc. (NASDAQ: SLNH) announced significant financing developments aimed at enhancing capital structure flexibility. The company has amended the remaining balance of $13 million in convertible notes, allowing a conversion price adjustment to a 20% discount. Additionally, Soluna issued $5 million in Series B Preferred Stock with a 10% annual dividend. These moves are designed to support the execution of its business plan amidst market volatility, particularly in funding the Dorothy project.

Soluna Holdings (NASDAQ: SLNH) reported its June financials, showing resilience despite a 38% decrease in BTC prices. Key highlights include a 2% rise in BTC equivalent mined per day and stable hashrate performance above 1 EH/s. The company achieved 43% cash contribution margins and maintained low power costs, focusing on long-term growth opportunities, including a 2GW pipeline and reduced equipment prices (down 70-80%). Revenue for June was estimated at $2,280,000, while Q1 2022 revenue reached $9,264,000.

Soluna Holdings, Inc. (NASDAQ: SLNH) has hired MZ Group to enhance its investor relations and financial communications. MZ Group, recognized for its expertise, aims to boost Soluna’s visibility among investors. Soluna specializes in green data centers that utilize curtailed renewable energy for cryptocurrency and other computing tasks. CEO Michael Toporek emphasized a strategic expansion beyond cryptocurrency into machine learning and scientific computing, highlighting the partnership with MZ Group as crucial for communicating growth opportunities and delivering long-term shareholder value.

Soluna Holdings, Inc. (NASDAQ: SLNH) declared a monthly cash dividend of $0.1875 per share for its 9.0% Series A Cumulative Perpetual Preferred Stock. This dividend will be paid to shareholders of record as of July 16, 2022, on or about July 31, 2022. Soluna, a leader in green data centers, converts excess renewable energy into computing power, offering solutions for cryptocurrency mining and other applications. The Series A Preferred Stock trades under SLNHP.