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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 (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, announced its participation in the Water Tower Research Fireside Chat Series on August 28, 2024, at 1:00 PM EDT. CEO John Belizaire will lead the discussion, which is open to all investors.
The chat will cover several key topics, including:
- An onsite update of Project Dorothy
- Soluna's evolution into three growing business lines
- Discussion of recent Q2 2024 results
- Updates on new project developments and existing project performance
Interested parties can register for the event through the provided link, and replays will be available after the webcast.
Soluna Holdings (NASDAQ: SLNH) reported a 362% year-over-year increase in revenue for Q2 2024, reaching $9.7 million compared to $2.1 million in Q2 2023.
Operating loss improved to $3.7 million, a 48% reduction from the $7.1 million loss in Q2 2023. Adjusted EBITDA rose to $1.8 million from a loss of $2.0 million in the prior year, driven by strong revenue growth and cost discipline.
Unrestricted cash increased by 50% from the end of 2023 to $9.6 million. Key projects include the ongoing construction of Dorothy 2, the development of Project Kati, and a 2 GW pipeline.
Partnership with Hewlett Packard Enterprise launched Soluna Cloud, allowing for scalable AI workloads using renewable energy.
Project Kati signed a Definitive Power Purchase Agreement with EDF Renewables and Masdar. Convertible debt decreased from $7.7 million to $5.3 million due to strong share price momentum and trading volume.
Soluna Holdings, Inc. (NASDAQ: SLNH) has released its July business update, highlighting significant developments in its green data center operations. Key highlights include:
1. Availability of 512 H100 SXM GPUs through partnership with HPE for AI workloads.
2. Closure of $30M funding for Project Dorothy 2, a 48 MW expansion.
3. Additional $1.25M funding for Soluna Cloud, totaling $13.75M for AI business.
4. Collaboration with HPE for sustainable enterprise AI services.
5. Completion of the second month of the Four Coincident Peak Program at Project Dorothy 1A/1B.
6. Over $1.1M revenue generated in H1 through ancillary services.
7. Progress on Project Dorothy 2 construction and Project Kati planning.
These developments showcase Soluna's commitment to expanding its green data center capabilities and diversifying its revenue streams in the AI and Bitcoin mining sectors.
Soluna Holdings (NASDAQ: SLNH) has announced a partnership with Hewlett Packard Enterprise (HPE) to deliver sustainable AI cloud solutions. The collaboration, named Soluna Cloud, will use HPE's direct liquid-cooled infrastructure with NVIDIA H100 SXM GPUs, powered by nearly 100% renewable energy. As an HPE Partner Ready Service Provider, Soluna will offer advanced cloud solutions to HPE's global customer base, focusing on AI training and customization of language models.
The partnership aims to make AI operations more environmentally friendly while providing scalable and sustainable solutions for enterprises. Soluna Cloud will leverage Soluna's 2GW pipeline of wasted renewable energy and innovative Helix data centers. Customers can sign up for Soluna Cloud's AI services at www.solunacloud.com.
Soluna Holdings (NASDAQ: SLNH) has secured $30 million in funding from Spring Lane Capital for the expansion of its Project Dorothy data center. This financing will enable the construction of Dorothy 2, a 48 MW expansion of Soluna's Texas flagship facility, primarily focused on Bitcoin mining hosting. The project includes plans for a 2 MW AI data center called Helix.
Key points:
- Construction to begin in Q3 2024, with initial energization expected by Q1 2025
- Capacity for approximately 13,700 next-generation Bitcoin mining rigs
- Soluna will have early profit participation, carried interest, and the right to invest up to 49% equity in the project
- The combined Dorothy 1 and 2 sites will double the consumption of curtailed energy
- Project is fully shovel-ready with necessary approvals
Soluna Holdings, Inc. (NASDAQ: SLNH) has announced that its subsidiary, Soluna Cloud, has secured an additional $1.25 million in funding, bringing the total credit facility for its AI business to $13.75 million. This enhanced financing aims to accelerate the growth of scalable, sustainable enterprise computing solutions, particularly in the areas of Bitcoin mining and AI.
The company, advised by BitOoda Technologies and Imperial Capital, plans to use this funding to advance its growth initiatives and meet the increasing demand for renewable-energy-powered, high-performance computing solutions. Soluna Cloud's focus on combining AI with renewable energy positions it at the forefront of addressing wasted energy problems while delivering advanced AI solutions.
Soluna Holdings, developer of green data centers, has announced the immediate availability of its AI cloud services via its subsidiary, Soluna Cloud. Enterprise customers and Generative AI Labs now have access to at least 512 NVIDIA H100 SXM GPUs to support generative AI workloads.
The company expects this initiative to generate $38 million to $80 million in revenue over the next three years. CEO John Belizaire emphasized Soluna's commitment to innovation and sustainability, highlighting this deployment as a milestone in providing high-performance, renewable computing solutions.
Customers on the waitlist will receive priority access and tailored onboarding. Interested parties can find more ordering details at SolunaCloud.com.
Soluna Holdings, a developer of green data centers, has provided updates for June regarding its operations and project developments. The company highlighted a Generative AI agreement, securing NVIDIA GPUs for $80M revenue over the next three years. Additionally, Soluna closed a $12.5M credit facility to fund this initiative. Convertible Loan Note balances have been reduced from $7.7M to $4.5M through conversions to common shares, increasing outstanding shares to 5,381,104 as of July 8th. Key projects like Dorothy 1A and 1B, Sophie, and Kati are undergoing infrastructure optimizations and fleet upgrades to enhance efficiency and protection against summer heat. Project Dorothy 2's construction is set to begin by late July, with a phased commissioning schedule. The company also responded to investor questions in its latest AMA.
Soluna Holdings announced the successful raising of a $12.5 million credit facility for its new subsidiary, Soluna Cloud.
This financing will back the acquisition of NVIDIA H100 GPUs under a 3-year managed-services agreement at a hydro-powered data center. Soluna anticipates annual revenue of $16 million to $26 million during full deployment, targeting a total revenue of $38 million to $80 million across the contract's duration.
Soluna Cloud's services, set to launch in July 2024, will be powered entirely by renewable energy and will support substantial AI workloads. Customers can sign up at SolunaCloud.com.
Soluna Holdings (NASDAQ: SLNH) issued a monthly business update highlighting key developments and metrics for May 2024. The company reported strong Q1 2024 results, including record adjusted EBITDA growth and increased cash reserves. A 166 MW power purchase agreement (PPA) was secured for Project Kati in Texas, enhancing hosting potential. Financing for Project Dorothy 2 was secured with a $30 million commitment from Spring Lane Capital. Additionally, Soluna launched Soluna Cloud, a new AI-focused subsidiary. Key projects, including Project Dorothy 1A, 1B, 2, Sophie, and Kati, continue to progress, with various milestones expected throughout 2024.
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