Soluna Holdings (SLNH) Reports February Site Level Financials

Soluna Holdings, Inc. (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 February site level financials.

Michael Toporek, CEO of Soluna Holdings, stated, “We are pleased to report a continued operating ramp and remain on track for our hashrate to hit 1 EH/s by the end of March and over 3 EH/s in the fourth quarter. Importantly, our project pipeline remains robust as we focus on becoming a leading curtailment solutions provider to the renewable energy industry.”

Key Summary Highlights:

• February 2022 Prop Mining BTC Equivalent generated per day increased by 16%
• As of March 12th, 2022, 815 PH/s installed with over 185 PH/s on the ground being plugged in to meet 1 EH/s target by end of March
  • Excluding Hosting JV (284 PH/s), expect to mine over 100 BTC Equivalent per month at 1 EH/s
• Second quarter proprietary hashrate expected to grow over 36%
• Operations continue to scale. Dorothy site preparation in full swing
• Project pipeline continues to be robust as Soluna becomes a leading curtailment solutions provider to the renewable energy business

Revenue & Contribution Margin Summary:

A presentation and corresponding video is available on the Company’s website at: https://www.solunacomputing.com/investors/updates/february2022flash/

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