Project Dorothy Energization Imminent
Interconnect Work Begins with Expected
Completion by end of March
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, announced today that the final phase of its substation
interconnection work has begun, which is expected to be completed
by the end of March, 2023.
Following the completion of the substation work, final testing
on all power infrastructure will commence. Assuming ERCOT final
approval, Dorothy 1A is expected to stay on track to be energized
the first week of April.
John Belizaire, CEO of Soluna Computing, stated, “Following the
recent announcement of Soluna’s funding from Spring Lane Capital,
we have been able to mobilize our teams to keep on course to
energize the first phase of Project Dorothy as safely and quickly
as possible to bring value to our investors, shareholders, and
Project Dorothy is anticipated to be one of the lowest-cost
facilities of its kind in North America. The project is named after
Dorothy Vaughan, an African American mathematician and “human
computer” who worked for the National Advisory Committee for
Aeronautics and NASA in 1939. Learn more about the logistics of
this facility here.
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.
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.
version on businesswire.com: https://www.businesswire.com/news/home/20230324005064/en/
Information Michael Toporek CEO Soluna Holdings, Inc.
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