Soluna Holdings Announces July Site Level Financials
August 18 2022 - 08:30AM
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 July site level financials.
Michael Toporek, CEO of Soluna Holdings, stated,
“Despite Bitcoin remaining around $20,000 and challenging power
markets, Soluna has been able to maintain healthy margins and
increase computing power. As a result of the increase in activity
from renewable energy generators seeking computing as the most
effective solution to their curtailment problems, we continue to
believe investing through the cycle is the best opportunity to
deliver value to shareholders.”
Key Summary Highlights:
Increased BTC Production Despite Volatile
Market
- BTC Equivalent Mined increased by 12% despite average BTC
prices decreasing by 12% from June to July.
- Average Hashrate deployed increased by 9% with peak hashrate
remaining above 1EH/s.
Cash Contribution Margins Remain Healthy
- 27% Cash contribution prop mining margins slightly offset by
weaker hosting margins
- 19% Consolidated cash contribution margins overall if hosting
is included despite low BTC environment
- Margins impacted by exceptional events leading to fuel cost
increases at Sophie and Marie
10MW Hosting Agreement at Marie Expires End
of September
- Assessing economics of renewal or conversion to prop
mining
- Anticipated hosting margins with new contract expected to
increase
Revenue & Contribution Margin Summary:A
presentation and corresponding video is available on the Company’s
website
at: https://www.solunacomputing.com/investors/updates/july2022flash/
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 Feb 2024 to Mar 2024
Soluna (NASDAQ:SLNH)
Historical Stock Chart
From Mar 2023 to Mar 2024