Soluna Holdings Announces August Site-Level Financial Results

Soluna Holdings Announces August Site-Level Financial Results

ALBANY, NY–(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 the cryptocurrency mining and other IT-intensive, today announced the release of its August site-level financials.

Michael Toporek, CEO of Soluna Holdings, said, “Soluna continues to deliver healthy hash rate and margins despite low BTC prices and volatility in the energy market. In the near term, we are focused on powering up the first 50 MW of our next generation Dorothy facility as it brings Soluna to scale. Our development pipeline continues to grow as renewable energy producers continue to view computing power as their preferred reduction solution.

Main highlights of the summary:

  • BTC Production Rises Despite Market Volatility

    • BTC Equivalent Mined rose 6% while BTC prices rose around 4% from July to August

    • Maximum hash rate remained above 1EH/s

  • Cash contribution margins remain healthy

    • 20% Consolidated cash contribution margins despite low BTC environment and high energy costs

      • 26% cash contribution for prop extraction margins slightly offset by lower accommodation margins
  • 10MW Hosting Agreement at Marie Renewed with New Key Terms

    • The contract has been restructured to be more responsive to energy fluctuations

    • Anticipated hosting margins with new contract expected to increase

Summary of revenue and contribution margin:

*all numbers below exclude legacy hosting
** August and July adjustment. June FCA Cost Normalized Cash Contribution Margins – See p. 21 of presentation for more details
** Excluding FCA cost adjustment, July cash contribution margin was $413

(in thousands of dollars, unaudited)



EX 21

Q1 2022

April 2022

May 2022

June 2022

Q2 2022

July 2022

August 2022










Cash contribution margin









Cash contribution margin (normalized electricity costs)









Annualized turnover









Annualized contribution margin









Note: Represents non-GAAP financial measures.

A presentation and corresponding video are available on the Company’s website at:

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 and scalable data centers for compute-intensive and batchable applications such as cryptocurrency mining, AI and machine learning. Soluna offers 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 from renewable energy projects can be wasted. Soluna’s data centers allow owners of clean electricity assets to “sell”. All. Megawatt.’

For more information about Soluna, please visit or follow us on LinkedIn at and Twitter @SolunaHoldings.

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