Soluna Announces Monthly Business Update

Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for Bitcoin mining and other intensive computing applications, announced its April 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:

• Post-Halving Optimizations – The Company continued its post-halving optimization plan to boost hashrate for its hosting clients and its proprietary mining operations. The Company’s optimizations include MaestroOS upgrades to increase granular control of miners, sites with industry-leading PUE and electrical design, software-based tuning to improve J/TH, and preventative maintenance using predictive systems.
• Transition-AI: Can the Grid Handle AI’s Power Demand? – CEO John Belizaire will speak at Latitude Media’s virtual conference on May 8th, covering creative solutions for utilities and data center operators to manage the AI energy boom. Register here.
• New CFO – John Tunison was appointed as CFO, replacing David Michaels who will be returning to his role as an independent Board member.
• WTR Sustainable Investing Podcast - CEO John Belizaire discusses the increasing power demands of AI and the future of renewable energy development. Listen here.
• WTR AI and Technology Conference – CEO John Belizaire presented a talk on Convergence and the Power of AI. View here. (Enter email to watch.)
• AMA - The Company published responses to investor questions in its monthly AMA for April. View the responses here.

“Our power price of $30/MWh gives us a meaningful cost advantage that could be important relative to many other miners post-halving. For our proprietary mining at Project Dorothy 1B, our average power efficiency is 28 J/TH (across our fleet it’s approximately 25.7 J/TH),” said CEO John Belizaire, in the monthly AMA for April.

“Project Dorothy 1A and Project Sophie have similar efficiency levels. Our hosting customers are some of the industry’s leading miners. We’re implementing a number of optimization strategies at each site to ensure maximum profit.”

Key Project Updates:

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

• Optimal weather conditions allowed for a very strong month of steady operations with minimal curtailment leading to 98.5% uptime overall.
• Expanded the deployments of hosting customers at 1A to consume excess available power and improve hashrate.
• Infrastructure upgrades in preparation for the summer heat are underway to optimize operations.

Project Dorothy 2 (50 MW):