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Soluna and Bit Digital Announce Year-Long Hosting Partnership
Rhea-AI Impact
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Rhea-AI Sentiment
(Neutral)
Tags
partnership
Rhea-AI Summary
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.
Positive
Soluna Holdings, Inc. secures a 4.4 MW hosting contract with Bit Digital, bringing top-notch mining companies to Project Sophie. The contract will fill capacity at the data center, boosting revenue and growth potential.
Negative
None.
Project Sophie Chosen to be the Host Site
ALBANY, N.Y.--(BUSINESS WIRE)--
Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for Bitcoin mining and other intensive computing applications, announced today a twelve month 4.4 MW hosting contract with Bit Digital at Soluna’s Project Sophie in Kentucky. The contract will fill capacity at the data center that is becoming available as the current customer’s contract begins to roll off in November 2023.
John Belizaire, CEO of Soluna Computing, commented, “Earlier this year we shifted our business model to offer hosting to industry leaders. Bringing on top notch mining companies like Bit Digital is extremely exciting and we look forward to partnering.”
The Company expects the Bit Digital hardware to be online by early November.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.
About Soluna Holdings, Inc (SLNH)
Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as Bitcoin mining, AI, and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’
