Soluna Holdings, Inc. (SLNH), Soluna Computing, Inc. (“SCI”), the mum or dad firm of inexperienced knowledge facilities for Bitcoin mining and different compute-intensive purposes, at the moment introduced that it has made vital progress on its commercialization plan for Undertaking Dorothy and Undertaking Sophie, putting in greater than 30 MW of kit at Undertaking Dorothy. Based mostly on this progress, the Firm is aiming for a major administration milestone of two EH/s. These operational milestones and enhancements resulted in a stronger money place for the Firm throughout the yr.
John Belizaire, CEO of Soluna Holdings, commented: “We proceed to execute on the plan outlined by my letter to shareholders. June we offered an working replace that centered on optimistic money flows from operations in 2023. to achieve the second half of the yr. As you possibly can see from these updates, we proceed to carry extra miners on-line and now handle over 2 EH/s.
Undertaking Sophie (host):
- in 2023 April 6 Soluna introduced 25 MW internet hosting contract with a sustainability-focused internet hosting shopper.
- Soluna has since deployed miners throughout the positioning and is working at full capability.
- In June, the positioning reached one of many highest utilization charges in its historical past.
- The positioning has a excessive incomes potential, calculated 3.21 million {dollars} on an annual foundation. (As of June 21, 2023 Earnings Energy illustration.)1
Undertaking Dorothy 1A (Host):
- Could 10, 2023 Soluna introduced with two strategic internet hosting companions, together with Compass Mining, it signed a contract for 25 MW of energy on the Dorothy 1A mission.
- Soluna has accomplished the deployment of Undertaking Dorothy’s 1A internet hosting purchasers and has 100% of the positioning up and operating.
- Working at 25 MW, this web site is projected to have a income potential of 16.47 million on an annual foundation. (As of June 21, 2023 Earnings Energy illustration.)
Undertaking Dorothy 1B (Prop-Mining):
- In Could, the Firm introduced its 14 million Prop-Mining three way partnership with Navitas International.
- The corporate has accomplished its tender for the acquisition of kitover 8,250 machines have been bought with a complete velocity of 860 PH/s, a mean effectivity of 29.9 J/TH, and a price of $11.25/TH together with all taxes, imports and duties.
- The machines proceed to develop, with 3,600 to this point. The remainder ought to be completed by the top of August.
- Working at 25 MW, this web site is projected to have a income potential of 17.78 million. (As of June 21, 2023 Earnings Energy illustration.)
Further Firm Updates:
- Undertaking Kati continues the event course of, finishing the primary of three required ERCOT interconnection research within the planning section. She additionally has superior authorized agreements along with her accomplice.
- The corporate is on monitor to finish the quarter with a robust money stability, which will likely be reported in August. tenth quarter
Notes):
1 In keeping with GAAP accounting guidelines, the income from the brand new Undertaking Sophie internet hosting contract doesn’t embody power prices, as these are transition prices. The incomes energy of Undertaking Sophie is exhibiting Illustration of Earnings Energy in 2023 June 21
Protected Harbor Assertion
This announcement incorporates forward-looking statements. These statements are made in accordance with the 1995 Protected harbor provisions of the US Non-public Securities Litigation Reform Act. These forward-looking statements might be recognized by way of phrases comparable to “will,” “believes,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “trusts” and comparable statements. Soluna Holdings, Inc. may make written or oral forward-looking statements in its periodic experiences to the US Securities and Alternate Fee, in its annual report back to shareholders, in press releases and different written supplies, and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic information, together with however not restricted to statements about Soluna’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties, that are additional mentioned within the Firm’s filings with the Securities and Alternate Fee. All info contained on this press launch is as of the date of the press launch and Soluna Holdings, Inc. undertakes no obligation to replace such info besides as required by relevant regulation.
About Soluna Holdings, Inc (SLNH)
Soluna Holdings, Inc. is a number one developer of inexperienced knowledge facilities that flip extra renewable power into world computing assets. Soluna builds modular, scalable knowledge facilities to deal with compute-intensive purposes comparable to Bitcoin mining, synthetic intelligence and machine studying. Soluna is an economical various to battery storage or transmission traces. Soluna makes use of expertise and considerate design to unravel advanced real-world challenges. As much as 30% of the capability of renewable power tasks might be depleted. Soluna knowledge facilities allow house owners to “promote” clear electrical energy. what A megawatt.
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Sam Sova
Founder and CEO
A DREAM
Sam@teamsova.biz
Supply: Soluna Holdings, Inc.
