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.
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Soluna Holdings appoints Daniel Golding, former head of advanced engineering and data center innovation at Google, to its Advisory Board. The company aims to offer purpose-built facilities powered by renewable energy for AI customers. Soluna plans to upgrade its existing data center with the help of Golding's expertise to address the needs of AI training workloads. The company expects to add more experts in AI, data center development, and renewable energy to its Advisory Board in the future.
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Soluna Holdings, Inc. (NASDAQ: SLNH) has regained compliance with the minimum bid price requirement set forth by Nasdaq. The company demonstrated a closing bid price at or above $1.00 per share for the last 10 consecutive business days.
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Soluna Holdings, Inc. announces a 4.4 MW hosting contract with Bit Digital at Soluna's Project Sophie in Kentucky. The contract will fill capacity at the data center as the current customer's contract ends in November 2023.
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Soluna Holdings, Inc. provides updates on company and project sites, including record low power costs at Project Dorothy 1 site and plans for high performance computing and AI pilot in Project Dorothy 2. The company is working on designing data centers for AI training workloads and aims to offer purpose-built facilities powered by renewable energy. Soluna has monetized over 4,000 MWh of curtailed energy and is experiencing record low power costs. The company is transitioning 60% of Project Sophie site to new, more profitable customers. Soluna continues to grow its long-term pipeline with over 250 MW added.
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Soluna Holdings, Inc. will execute a reverse stock split at a ratio of 1-for-25. The split will reduce the number of shares from approximately 37.3 million to approximately 1.5 million. The reverse stock split is part of the Company’s plan to regain compliance with the $1.00 per share minimum closing price required to maintain listing on NASDAQ.
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Soluna Holdings, Inc. will execute a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-25. The split will reduce the number of shares from approximately 37.3 million to approximately 1.5 million. The reverse stock split is part of the Company's plan to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on NASDAQ.
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Soluna Holdings, Inc. announces participation in the Water Tower Research Fireside Chat Series on October 10, 2023.
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Soluna Holdings, Inc. provides operational update and achieves curtailed energy consumption. Project Dorothy 1 is fully online with 50 MW capacity. Company achieves first month of positive EBITDA. Significant reductions in SG&A. Monetized 1,286 MWh of curtailed energy. Cash balance expected to be strong. Positive business developments.
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Soluna Holdings, Inc. reported financial results for Q2 2023, showing a stronger balance sheet and improved cash flows. The cash balance increased to $7.5 million compared to $1.1 million in December 2022. The Company is on track to deploy 2 EH/s across all sites by the end of the summer. Project Dorothy 1B is completing construction and has energized more than 11 MW of buildings for the Proprietary Mining Joint Venture. The Company purchased 8,378 machines for a total of 868 PH/s of hashrate at a cost of $11.25 $/TH. The average energy cost is $30/MWh, and the average efficiency is less than 30 J/TH. The combined revenue potential for Project Dorothy 1A, Project Dorothy 1B, and Project Sophie is $37.5 million annually. Project Kati, a new 166 MW data center, is in the development process. The Company's balance sheet and liquidity improved, with a current ratio of 1.4 and working capital of $6.1 million. Total revenue for Q2 2023 decreased by 76% to $2.1 million compared to Q2 2022. Net loss from continuing operations improved to $9.3 million in Q2 2023.
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Soluna Holdings, Inc. has made significant progress on its commercialization plan for Project Dorothy and Project Sophie, deploying over 30 MW of equipment and achieving a milestone of 2 EH/s under management. The company has strengthened its cash position and aims to achieve cash flow positive from operations in the second half of 2023. Project Sophie has a revenue potential of $3.21 million annually, while Project Dorothy 1A's revenue potential is projected to reach $16.47 million. Soluna also announced a $14 million Prop-Mining Joint Venture with Navitas Global.
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FAQ
What is the current stock price of Soluna Holdings (SLNH)?
The current stock price of Soluna Holdings (SLNH) is $2.3 as of December 20, 2024.
What is the market cap of Soluna Holdings (SLNH)?
The market cap of Soluna Holdings (SLNH) is approximately 18.8M.
What does Soluna Holdings, Inc. do?
Soluna Holdings, Inc. specializes in cryptocurrency mining and machine learning using renewable energy-powered data centers.
How does Soluna Holdings ensure sustainability?
The company uses surplus renewable energy to power its data centers, reducing waste and promoting sustainability.
What industries does Soluna Holdings, Inc. serve?
Soluna serves the cryptocurrency mining and machine learning industries.
What recent achievements has Soluna Holdings made?
Recent achievements include expanding data centers and forming strategic partnerships to enhance efficiency and capacity.
What is Soluna Holdings' stock symbol?
The stock symbol for Soluna Holdings, Inc. is SLNH.
How does Soluna Holdings minimize risks in its operations?
The company deploys low-risk, low-friction solutions by utilizing excess renewable energy for its computational processes.
What is the significance of Soluna Holdings' business model?
Soluna's model reduces energy waste and supports sustainable, eco-friendly data center operations.
Does Soluna Holdings have partnerships?
Yes, Soluna has strategic partnerships aimed at improving energy efficiency and expanding their mining capabilities.
Is Soluna Holdings involved in other computing activities besides mining?
Yes, Soluna also engages in machine learning applications through its data centers.
What type of energy powers Soluna's data centers?
Soluna's data centers are powered by renewable energy sources, using surplus energy to operate.
Soluna Holdings, Inc.
Nasdaq:SLNH
SLNH Rankings
SLNH Stock Data
18.84M
7.15M
27.24%
5.23%
2.86%
Capital Markets
Finance Services
United States of America
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