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Despite the fall in BTC prices, Soluna meets margin and hash rate expectations
ALBANY, NY, June 16, 2022 (GLOBE NEWSWIRE) — NewMediaWire – Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (” SCI”), a developer of green knowledge centers for cryptocurrency mining and other supercomputing, today announced the launch of its May site money knowledge.
Michael Toporek, CEO of Soluna Holdings, said: “Our company was designed from the ground up to thrive in a challenging Bitcoin recession. of challenging environments that will demonstrate to our investors the price of what our team has built.
Toporek added: “Our Dorothy allocation is expected to generate at least 20 MW through September, or around six hundred PH. We are working with the Texas regulator to ensure grid safety as we move to one hundred MW. For Marie’s assignment, we plan to reformulate our hosting agreement in September 2022 or convert those spaces into own capacity, which is approximately three hundred PH.
Key points of the summary:
Significant ramp in May increases functionality despite low BTC prices
The BTC equivalent mined the same* month over month despite a 23% drop in average BTC prices
The average hash implemented increased up to 22% month after month**
Margin Expansion Drivers
Site margins meet expectations in a low BTC value environment
Sophie switched to 84% availability for electric power prices of 2. 5 to 2. 7¢ compatible with kWh
Continued to reach the EH target for the 2022 quarter of the moment
As of 4 June 1,021 p. e. /s plugged in
* Includes the pro forma effect of Marie’s forced closure in April.
**Excluding the pro forma effect of the forced closure in Marie in April
Summary of revenue and contribution margin:
($ thousands, unaudited)
(Estimate)
Q1 2021
Q2 2021
Q3 2021
Q4 2021
EX 21
Q1 2022
May 2022
Income
$995
$1,657
$2,368
$7,990
$13,010
$9,264
$3,004
Cash contribution margin
$744
$1,261
$1,703
$5,179
$8,888
$5,206
$1,595
Annualized income
$3,980
$6,628
$9,472
$31,960
$13,010
$37,056
$36,048
Annualized contribution margin
$2,976
$5,044
$6,812
$20,716
$8,888
$20,824
$19,140
A presentation and corresponding video are available on the Company’s online page at:
https://www. solunacomputing. com/investors/updates/may2022flash/
About Soluna Holdings, Inc (SLNH)
Soluna Holdings, Inc. es the leading developer of green knowledge centers that turn excess renewable energy into global computing resources. Soluna creates modular and scalable knowledge centers for batch and intensive processing programs, such as cryptocurrency mining, AI, and device learning. Soluna offers a cost-effective option for battery garage or transmission lines. Soluna uses generation and intentional design to solve complex, real-world challenges. Up to 30% of the strength of renewable power projects can be wasted. Soluna’s knowledge centers allow energy active homeowners to “sell. ” All. Megawatts. ‘
To learn more about Soluna, visit www. solunacomputing. com or follow us on LinkedIn on linkedin. com/solunaholdings and Twitter @SolunaHoldings.
Contact detailsSam SovaVP, MarketingSoluna Computingsam@soluna. io 414 699 3667
Contact MZBrian M. Prenoveau, CFAMZ Group – MZ North AmericaSLNH@mzgroup. us 561 489 5315