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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Soluna Holdings Inc | NASDAQ:SLNH | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.1501 | 6.18% | 2.5801 | 2.58 | 2.62 | 3.04 | 2.55 | 3.04 | 13,915,276 | 00:59:50 |
Offers November Update on Company and Project Sites
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 it has completed its registration for Ancillary Services to diversify its revenue streams.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231129843069/en/
(Graphic: Business Wire)
John Belizaire, CEO of Soluna Holdings, commented, “Adding Ancillary Services to Project Dorothy is a key milestone in our revenue diversification plan and adds another turn to our business flywheel.”
“Our model is to monetize our data centers in multiple ways to maximize our return on invested capital and deliver superior returns for our (project-level) investors. Ancillary Services expands our model to three drivers,” Belizaire continued.
Belizaire concluded, “Soluna's data center colocation with a wind farm demonstrates responsible energy use and a visionary approach for enhanced grid resilience and increased renewable energy penetration. It’s a win in three important ways: Grid Resilience, Revenue Diversification, and Wind Farm Energy Utilization.”
The Company has provided the following Corporate and Site Updates.
Corporate Highlights:
Key Company Metrics:
Metric [All sites]
YTD [Sep]
YTD [Oct]
YTD [Nov]
Installed Hashrate
2.6 EH/s
2.6 EH/s
2.5 EH/s
Total Installed Power Capacity
75 MW
75 MW
75 MW
Average Operating Hashrate
2.2 EH/s
2.3 EH/s
2.3 EH/s
Prop Mining
588 PH/s
660 PH/s
749 PH/s
Hosting
1.6 EH/s
1.6 EH/s
1.5 EH/s
Average Power Cost
$30 / MWh
$30 / MWh
$30 / MWh
Average J/TH (across all sites)
30 J/TH
30 J/TH
30 J/TH
Power Usage Effectiveness
1.01
1.01
1.01
Curtailed Energy Consumed (Project Dorothy 1A & 1B)
1,307 MWh
4,003 MWh
11,664 MWh
Bitcoin Miners Deployed
23,655
23,655
23,571
Key Project Updates
Project Dorothy 1A ( 953 PH/s, 25 MW, Hosting):
Metric
YTD [Sep]
YTD [Oct]
YTD [Nov]
Total Power Consumed
30,284 MWh
44,899 MWh
74,791 MWh
Power Usage Effectiveness (PUE)
1.01
1.01
1.01
Curtailed Energy Consumed YTD*
1,068 MWh
2,501 MWh
6,397 MWh
*Note: Curtailed Energy is energy produced by the wind farm and consumed by Soluna’s Project Dorothy which the grid either could not absorb or did not deem as economically valuable.
Project Dorothy 1B ( 816 PH/s, 25 MW, Prop-Mining):
Metric
YTD [Sep]
YTD [Oct]
YTD [Nov]
Average Operating Hashrate (PH/s)
588
660
749
Total Bitcoin Mined
53
96
143
Total Power Consumed
9,043 MWh
21,805 MWh
50,515 MWh
Power Usage Effectiveness (PUE)
1.01
1.01
1.01
Curtailed Energy Consumed YTD*
239 MWh
1,502 MWh
5,267 MWh
*Note: Curtailed Energy is energy produced by the wind farm and consumed by Soluna’s Project Dorothy which the grid either could absorb or did not deem as economically valuable.
Project Sophie (761 PH/s, 25 MW, Hosting with Profit Share):
Metric
YTD [Sep]
YTD [Oct]
YTD [Nov]
Average Operating Hashrate (PH/s)
817
770
658
Power Usage Effectiveness
1.02
1.02
1.02
Average Power Cost
$31 /MWh
$28 /MWh
$29 /MWh
Project Dorothy 2 (50 MW):
Project Kati (166 MW):
View Soluna’s Earnings Power Presentation here.
View Soluna’s summary of third-quarter results here.
*Note: November metrics are as of November 26, 2023.
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.
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 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.’
View source version on businesswire.com: https://www.businesswire.com/news/home/20231129843069/en/
Sam Sova Founder and CEO SOVA Sam@teamsova.biz
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