Soluna Holdings (SLNH) Announces Monthly Business Update

Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for intensive computing applications including Bitcoin mining and AI, announced its September project site-level operations, developments, and updates.

The Company has provided the following Corporate and Site Updates.

Key Company Metrics:

The monthly metrics are now available here.

Corporate Highlights:

• Term Sheets for Project Rosa – Soluna signed a term sheet with a renewable energy leader for Project Rosa, boosting capacity by 187 MW of sustainable energy for AI and Bitcoin mining.
• CEO John Belizaire attended the 2024 Ai4 Conference – A recording of the panel “The AI Ecosystem: Hardware, Cloud, and Enterprise Integration” can now be viewed here.
• New Blog – We unpack the problems and novel solutions to AI’s bottomless energy appetite. Read it here.
• New Blog – We explore the convergence of artificial intelligence and renewable energy and the resulting innovative solutions. Read it here.

Key Project Updates:

Project Dorothy 1A (25 MW, Bitcoin Hosting) / Project Dorothy 1B (25 MW, Bitcoin Prop-Mining):

• The Four Coincident Peak (4CP) period ended in September with our MaestroOS(™) control system successfully responding to all demand requirements.
• Optimization efforts to include building insulation, heat shielding, and power infrastructure cooling solutions have been completed.
• We successfully completed the summer program for our participation in ancillary services.

Project Dorothy 2 (48 MW, Bitcoin Hosting):

• Site grading will be completed in the coming weeks.
• Civil construction teams are in the process of pouring concrete pads for the initial phase of work with MDC fabrication underway so building erection can follow shortly after.
• All long lead power infrastructure has been received.
• Dates to complete the substation interconnection are in the process of being finalized with work slated to begin in December.

New Project Grace (2 MW at Dorothy 2, AI Cloud/Hosting):

• Kicked off kW Mission Critical on the Concept design for Helix.

New Project Ada (1 MW, AI Cloud with HPE):

• 6 POCs in progress or completed with partners or potential customers.
• New sales team in contract negotiations with several customers to fill the initial Cluster.
• Demand for an additional 84 Nodes (or 672 GPUs) is on the waitlist.
• Attracted leading aggregators to our Cloud platform.

Project Sophie (25 MW, Bitcoin Hosting with Profit Share, AI Hosting):

• The site has continued to operate at a high level as cooler temperatures persist into the fall season.
• Preparations are underway for an 8.8 MW fleet upgrade and 3.3 MW expansion of an existing customer to be completed in October.

Project Kati (166 MW, Bitcoin Hosting and AI):

• Meter Design Proposal Submitted to AEP
• Negotiations continue with landowners for the site land leases.

View Soluna’s recent AMA here.

View Soluna 2024 Earnings Power Presentation here.

You May Also Be Interested In

• Crude Inventory Fell 4.5M Barrels Last Week - EIA
• Cronos expands Spinach cannabis edibles and vape lineup in Canada
• Caesars Entertainment (CZR) 1K contracts of September 30 calls trade