Despite Continued BTC Price Decreases in June, Soluna Continues to Grow Hashrate and Intends to Invest through the Cycle
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:
*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 Information
Sam Sova
VP, Marketing
Soluna Computing
This email address is being protected from spambots. You need JavaScript enabled to view it.
+414 699 3667
MZ Contact
Brian M. Prenoveau, CFA
MZ Group – MZ North America
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+561 489 5315
Last Trade: | US$2.50 |
Daily Change: | 0.04 1.63 |
Daily Volume: | 14,128 |
Market Cap: | US$7.100M |
April 08, 2024 March 14, 2024 March 07, 2024 |
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