Soluna Holdings Announces June Site Level Financials
July 20 2022 - 9:28AM
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 June site level financials.
Michael Toporek, CEO of Soluna Holdings, stated,
“Soluna continues to prove its business model despite a decline in
BTC price. The company’s strong operating base of ultra-low energy
cost assets have continued to perform well as they were designed to
do in challenging macro environments.”
Key Summary Highlights:
- Seasonal factors affect revenue in June, but increased capacity
softens impact
- BTC Equivalent Mined per day increased by 2% despite
average BTC prices decreasing by 38%.
- Average Hashrate deployed was flat Month-over-Month with
peak hashrate remaining above 1 EH/s.* The flat hashrate was due
largely to seasonal factors including TVA curtailments and weather
related hash rate reductions.
- Drivers to margin growth
- 43% prop mining cash contribution margins despite low BTC
environment.
- Sophie maintained its 84% uptime for power costs of
2.5-2.7 ¢ per kWh.
- Ability to run Marie at lower uptime and cheaper power
cost if BTC prices fall further.
- Focus on investing through the cycle
- Long-term pipeline of opportunities near 2GW.
- Computing equipment prices down ~70-80% since January,
< 1 year payback period on new miners.
- Continued focus on robust ROIC.
*Excludes pro-forma impact of forced shutdown at
Marie in April
Revenue & Contribution Margin
Summary:
($ in 000s, Unaudited) |
Q1 2021 |
Q2 2021 |
Q3 2021 |
Q4 2021 |
FY 21 |
Q1 2022 |
June Est. |
Revenue |
$995 |
$1,657 |
$2,368 |
$7,990 |
$13,010 |
$9,264 |
$2,280 |
Cash Contribution Margin |
$744 |
$1,261 |
$1,703 |
$5,179 |
$8,888 |
$5,206 |
$835 |
Annualized Revenue |
$3,980 |
$6,628 |
$9,472 |
$31,960 |
$13,010 |
$37,056 |
$27,360 |
Annualized Contribution Margin |
$2,976 |
$5,044 |
$6,812 |
$20,716 |
$8,888 |
$20,824 |
$10,020 |
A presentation and corresponding video is
available on the Company’s website
at:https://www.solunacomputing.com/investors/updates/june2022flash/
Video and transcript will be uploaded separately
prior to 12pm.
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
Soluna (NASDAQ:SLNH)
Historical Stock Chart
From Aug 2024 to Sep 2024
Soluna (NASDAQ:SLNH)
Historical Stock Chart
From Sep 2023 to Sep 2024