Soluna Holdings, Inc. - SLNH STOCK NEWS

Soluna Holdings, Inc. (NASDAQ: SLNH) has announced a cash dividend of $0.1875 per share for its Series A Cumulative Perpetual Preferred Stock, amounting to an annual yield of 9.0%. This dividend is payable on May 31, 2022, to stockholders of record by May 19, 2022. Soluna develops green data centers that utilize excess renewable energy for cryptocurrency mining and other computing applications. With its innovative model, it aims to optimize renewable energy usage and reduce waste, enhancing its competitive advantage in the market.

Soluna Holdings (Nasdaq: SLNH) successfully closed its public offering of 525,714 shares of Series A Cumulative Perpetual Preferred Stock at $17.50 each, raising approximately $9.2 million before expenses. The company also executed a registered direct offering of 1,142,857 shares at the same price, totaling around $29.2 million. Proceeds will be allocated for data center acquisition, cryptocurrency mining infrastructure, and working capital. An additional 78,857 shares may be purchased by underwriters within 45 days to cover over-allotments.

Soluna Holdings, Inc. (SLNH) has announced a public offering of 525,714 shares of its 9.0% Series A Cumulative Perpetual Preferred Stock at a price of $17.50 per share. Concurrently, a registered direct offering of 1,142,857 shares at the same price is also underway. The combined offerings are expected to generate approximately $29 million, with net proceeds aimed at funding data center development, cryptocurrency mining, and general corporate expenses. The offerings are anticipated to close around April 29, 2022, subject to standard conditions.

Soluna Holdings, Inc. (Nasdaq: SLNH) has announced its intention to offer shares of its 9.0% Series A Cumulative Perpetual Preferred Stock in an underwritten public offering and a registered direct offering. The Series A Preferred Stock has a liquidation preference of $25.00 per share and will be traded under the symbol 'SLNHP'. Soluna plans to use the net proceeds for data center development, cryptocurrency mining, and working capital. Univest Securities, LLC is the sole book-running manager for the public offering.

Soluna Holdings, Inc. (NASDAQ: SLNH) announced on April 13, 2022, the completion of a $20 million debt financing as part of its capital strategy. This third tranche follows previous rounds totaling $9.9 million, with the funds aimed at expanding green data centers and cryptocurrency mining capabilities. The promissory notes will mature over five years at a 2% interest rate. CEO Michael Toporek expressed confidence in the company's growth trajectory, which includes the issuance of warrants for 1 million shares at $11.50 each. The financing is expected to drive operational and development objectives.

Soluna Holdings (NASDAQ: SLNH) announced strong growth in its green data center operations, aiming for 1.26 EH/s by June 30, 2022, with early delivery plans. The Sophie facility has increased its hashrate by over 70% and is expected to improve margins in April. The recent sale of its instruments business will allow reinvestment for a projected 20% to 30% return on capital. In March 2022, revenues reached $3.2 million, highlighting a robust operating momentum as the company focuses solely on cryptocurrency mining and computing.

Soluna Holdings announced the sale of its MTI Instruments subsidiary to Vitrek LLC for $10.75 million. This sale enables Soluna to focus on green computing and cryptocurrency mining operations. The decision is aimed at enhancing liquidity and accelerating the company's development of zero-carbon computing facilities. CEO Michael Toporek highlighted the importance of this transaction in allowing the company to concentrate on its core mission while providing MTI Instruments the opportunity for accelerated growth under Vitrek.

Soluna Holdings, Inc. (NASDAQ: SLNH) announced a monthly cash dividend of $0.1875 per share on its Series A Cumulative Perpetual Preferred Stock, reflecting a 9.0% annual rate. This dividend is payable on April 30, 2022, to shareholders on record as of April 17, 2022. Soluna is a leader in green data centers that utilize excess renewable energy for cryptocurrency mining and other computational needs.

Soluna Holdings, Inc. (NASDAQ: SLNH) reported a significant increase in crypto mining revenue, achieving $10.9 million in 2021, up from less than $1 million in 2020. The company also raised over $60 million in capital and had $10.3 million in cash at year-end. Soluna is on track to enhance its hash rate to 1.261 EH/s by June 30, 2022, with expectations to reach 3 EH/s later this year. The CEO expressed confidence in continued growth, aiming for first-quarter revenue to be 80%-90% of 2021's total.