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.
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.
Soluna Computing, a subsidiary of Soluna Holdings (SLNH), has engaged Truist Securities to enhance its data center project pipeline. Focused on green data centers, Soluna aims to utilize wasted renewable energy to tackle grid inefficiencies, with commentary on the potential for curtailment reaching up to 30%. CEO John Belizaire emphasized their rapid deployment capabilities, enabling faster project timelines compared to traditional methods like battery storage. The company asserts its role in optimizing renewable energy usage, contributing to the energy transition.
Soluna Holdings, Inc. (NASDAQ: SLNH) reported its May 2022 financials amidst declining Bitcoin prices. The company maintained BTC equivalent mined month-over-month despite a 23% drop in average BTC prices. Key highlights include a 22% increase in average hashrate and significant margin growth supported by low power costs. The Dorothy project is set to energize 20 MW by September, while project Marie aims for a potential restructure of hosting agreements. As of June 4, the company achieved 1.021 EH/s for its Q2 2022 target.
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, payable on June 30, 2022, to shareholders of record by June 19, 2022. This dividend reflects a strong commitment to returning value to shareholders while maintaining a focus on renewable energy through its cryptocurrency mining operations. Soluna’s Series A Preferred Stock trades under the symbol SLNHP, positioned to leverage excess renewable energy for computing resources.
Soluna Holdings, Inc. (Nasdaq: SLNH) announced the closure of an over-allotment offering, which included an additional 73,518 shares of its 9.0% Series A Cumulative Perpetual Preferred Stock (symbol: SLNHP). The offering priced at $17.50 per share generated about $1.29 million in gross proceeds. The net proceeds will be allocated towards data center acquisition, cryptocurrency mining development, and general corporate purposes. The Series A Preferred Stock is perpetual with no maturity and may become redeemable after August 23, 2026, under certain circumstances.
Soluna Holdings, Inc. (NASDAQ: SLNH) reported strong performance for April 2022, marking it as the best month in the company's history. Cash contribution increased by 38% compared to March, while proprietary mining revenue grew by 10% and hashrate by 15%. The company anticipates achieving 1.26 EH/s by June 30 and expects a 61% growth in hashrate for May. Spring Lane's investment further validates Soluna's green infrastructure initiatives, recognized as among the best in the industry. The CEO remains optimistic about sustained margins and growth despite recent market volatility.
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