Soluna Holdings Inc.

05/08/2025 | Press release | Distributed by Public on 05/08/2025 05:35

Soluna Announces Monthly Business Update (Form 8-K)

Soluna Announces Monthly Business Update

ALBANY, NY, May 8, 2025 - Soluna Holdings, Inc. ("Soluna" or the "Company"), (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, announced its April 2025 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:

● Term Sheet Signed for Power for New 120MW Wind-Powered Data Center "Project Hedy" in Texas - Expected to expand Soluna's presence in ERCOT and strengthen commitment to sustainable computing. Learn more here.
● Land Secured for 166MW Project Kati - Marks one of the Company's largest renewable-powered computing sites in development. Read more here.
● Term Sheet Signed for Power for New 100MW Wind-Powered "Project Ellen" Planned to Power AI & Bitcoin Workloads - Designed to meet rising demand for clean, high-performance computing infrastructure. Details here.
● Blockware Deal Expands Hosting at Project Dorothy 2 - New agreement grows Bitcoin hosting capacity at Soluna's flagship Texas site. Learn more here.
● New Blog - The Soluna team explores the sustainable AI landscape and the competitive advantages of Renewable Computing. Read our latest blog here.

Key Project Updates:

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

● The site has experienced several abnormally severe weather events that have impacted availability for the month.
● Preparations are underway to implement active cooling measures for power infrastructure in advance of the summer heat and 4CP period.

Project Dorothy 2 (Under Construction, 48 MW, Bitcoin Hosting):

● Customer deployments are ongoing for Phase 1 with multiple buildings online and hashing.
● Substantial completion of construction for Phase 1 will be achieved in the next three weeks.
● Progress on Phase 2 is accelerating as all buildings have been erected, and electrical installation is underway.
● Building materials are arriving on site for installation on Phase 3.

Project Sophie (25 MW, Bitcoin Hosting with Profit Share, AI Hosting):

● The site has continued to operate very well during optimal weather conditions.
● The team achieved a new peak hashrate of 1 EH/s at the site following recent deployments.
● A 3.3MW fleet upgrade will take place over the next two weeks to expand existing customers.

Project Kati (Under Development, 166 MW, Bitcoin Hosting and AI):

● The Phase 1 (83 MW) substation upgrade is complete.
● The construction bid process for Phase 1 (83 MW) of Bitcoin Hosting will be concluded soon.
● Long lead equipment, including medium voltage switchgear, transformers, and busway orders have been secured.

Customer Success:

● Soluna has completed deployment of the first 350 next-generation S21+ miners of the recently contracted new partnership with Blockware. The initial deployment will target 5 MWs of S21+ machines and is expected to continue to ramp into June at the new Dorothy 2 site.
● Project Dorothy 2 contracting continues for May-September 2025; 48 MWs with new partners are in the final stages of negotiation.
● Partnership growth and expansion at Project Sophie. This would be our 3rd partnership expansion with this hyperscale partner.

View Soluna's recent AMA here.

Soluna's glossary of terms can be found here.

Soluna Holdings Inc. published this content on May 08, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on May 08, 2025 at 11:36 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io