Soluna Ink’s 25 MW Hosting Agreement With Leading Bitcoin Miner
Project Sophie will sell miners, reallocate capital
ALBANY, NY, April 6, 2023–(BUSINESS WIRE)–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, today announced a 25 MW hosting contract with an industry-leading Bitcoin miner at Soluna’s Project Sophie in Kentucky.
The contract will shift Soluna’s business model at Soluna’s modular data centers at Project Sophie from proprietary mining to hosting Bitcoin miners for the customer. Soluna plans to sell its existing Bitcoin miners on the spot and reallocate capital.
John Belizaire, CEO of Soluna Computing, commented: “As the markets have changed, our business model has changed with it. We are building a larger hosting business and are excited to partner with industry leaders. This customer has a similar ethos to Soluna – accelerating a low-carbon future. This is one of the many hosting deals we are exploring for our current and future modular data centers.”
Soluna is preparing the site to begin phasing in the customer’s hardware over the next few weeks.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expect”, “anticipate”, “future”, “intend” , “plans”, “believes”, “estimates”, “certain” and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the US Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements by its officers. , board members or employees of 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 about this is included in the company’s registrations 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 obligation to update such information, except as required by 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 data-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 be wasted. Soluna’s data centers enable owners of clean electricity resources to ‘sell’. Each. Megawatts.
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Contacts
Michael Toporek
CEO
Soluna Holdings, Inc.
[email protected]
