Soluna Announces Monthly Business Update
The Company has provided the following Corporate and Site Updates.
Key Company Metrics:
The monthly metrics are now available here.
Corporate Highlights:
- AI Hosting – Soluna signed its first AI Hosting deal at Project Sophie and began making necessary preparations.
-
More Wasted Energy – curtailed energy consumed increased by
20% since December. - 4th Noteholder Amendment – a new amendment was signed with the Company’s noteholders to bolster the balance sheet and increase fundraising flexibility.
- Video - CEO John Belizaire discusses Soluna's innovative approach to sustainable data centers
- AMA - The Company published responses to investor questions in its monthly AMA. View the responses here.
Key Project Updates
Project Dorothy 1A (25 MW, Hosting) / Project Dorothy 1B (25 MW, Prop-Mining):
- Optimal weather conditions allowed for a very strong month of consistent operations with lower curtailment.
- Ancillary Services being implemented smoothly by MaestroOS and the site operations teams.
Project Dorothy 2 (50 MW):
- Construction bid site visits were completed with targeted vendors and the bid process is tracking towards being completed before the end of the quarter.
- Procurement of critical long-lead power infrastructure is near completion.
- Power partner’s approval process launched.
Project Sophie (25 MW, Hosting with Profit Share):
- All customers have been fully deployed and site operations have transitioned back to optimization.
- Strategic maintenance investments were completed to add resiliency to the site’s power infrastructure.
- Improvements planned to support the new AI Hosting customer neared completion.
Project Kati (166 MW):
- Final stages of commercial agreement on the PPA is nearing completion.
- ERCOT planning continues to progress with final comments received on one key study.
- Negotiations continue with the landowners for the site lease.
- Discussion continues with critical equipment providers.
View Soluna’s Earnings Power Presentation here.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
In addition to figures prepared in accordance with GAAP, Soluna from time to time presents alternative non-GAAP performance measures, e.g., EBITDA, adjusted EBITDA, adjusted net profit/loss, adjusted earnings per share, free cash flow. These measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. Alternative performance measures are not subject to GAAP or any other generally accepted accounting principle. Other companies may define these terms in different ways.
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
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Sam Sova
Partner and CEO
SOVA
Sam@letsgosova.com
Source: Soluna Holdings, Inc.