Soluna Holdings Announces May Site Level Financials
June 16 2022 - 06:12PM
via NewMediaWire – Soluna Holdings, Inc. (“SHI” or the “Company”),
(NASDAQ: SLNH), the parent company of Soluna Computing, Inc.
(“SCI”), a developer of green data centers for cryptocurrency
mining and other intensive computing, today announced the release
of its May site level financials.
Michael Toporek, CEO of Soluna Holdings, stated, “Our company
was engineered from inception to thrive in a difficult Bitcoin
downturn. We specifically focused on building a strong operating
base of ultra-low-cost power data centers. It is this kind of
difficult environment that will demonstrate to our investors the
value of what our team has built.”
Toporek added, “Our Dorothy project is expected to energize at
least 20 MW by September, which is about 600 PH. We are working
with the Texas regulator to assure security of the grid as we ramp
to 100 MW. For project Marie, we expect to re-formulate our hosting
deal in September 2022 or convert those slots to proprietary
capacity, which is about 300 PH.”
Key Summary Highlights:
- Significant ramp in May boosts
performance despite low BTC prices
- BTC equivalent mined was
the same* Month-over-Month despite average BTC prices decreasing by
23%
- Average Hashrate deployed
grew 22% Month-over-Month**
- Drivers to margin growth
- Site margins meeting
expectations in low BTC price environment
- Sophie moved to its 84%
uptime for power costs of 2.5-2.7 ¢ per kWh
- Continued focus to hit Q2 2022 EH
target
- As of June 4, 1.021 EH/s
plugged in
*Includes pro-forma impact of forced shutdown at Marie in
April.
**Excludes pro-forma impact of forced shutdown at Marie in
April
Revenue & Contribution Margin Summary:
($ in 000s,
Unaudited) |
|
|
|
|
|
|
(Estimate) |
|
Q1 2021 |
Q2 2021 |
Q3 2021 |
Q4 2021 |
FY 21 |
Q1 2022 |
May 2022 |
Revenue |
$995 |
$1,657 |
$2,368 |
$7,990 |
$13,010 |
$9,264 |
$3,004 |
|
|
|
|
|
|
|
|
Cash Contribution Margin |
$744 |
$1,261 |
$1,703 |
$5,179 |
$8,888 |
$5,206 |
$1,595 |
|
|
|
|
|
|
|
|
Annualized Revenue |
$3,980 |
$6,628 |
$9,472 |
$31,960 |
$13,010 |
$37,056 |
$36,048 |
|
|
|
|
|
|
|
|
Annualized Contribution Margin |
$2,976 |
$5,044 |
$6,812 |
$20,716 |
$8,888 |
$20,824 |
$19,140 |
|
|
|
|
|
|
|
|
A presentation and corresponding video is available on the
Company’s website at:
https://www.solunacomputing.com/investors/updates/may2022flash/
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
cryptocurrency 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.’
For more information about Soluna, please visit
www.solunacomputing.com or follow us on LinkedIn at
linkedin.com/solunaholdings and Twitter @SolunaHoldings.
Contact InformationSam SovaVP,
MarketingSoluna Computingsam@soluna.io+414 699 3667
MZ ContactBrian M. Prenoveau, CFAMZ Group
– MZ North AmericaSLNH@mzgroup.us+561 489 5315
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