Soluna Holdings (SLNH) Reports January 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 January site level financials.

Michael Toporek, CEO of Soluna Holdings, stated, “Our revenues and earnings have continued to accelerate as planned and our hashrate is on track to hit 1 EH/s by the end of March and over 3 EH/s in the fourth quarter. We remain keenly focused on return on invested capital and developing our longer-term strategy beyond crypto mining within the larger batchable computing industry.”

Toporek added, “We now have 1EH/s of plugs ready to go, about 60 days ahead of schedule. As equipment shows up, we plug in. Facility ramp up and infrastructure upgrades are behind us. We are ready to go full bore.”

Key Summary Highlights:

• Currently energized 52 MW with hashrate continuing to ramp to 1 EH/s by end of March (+/- 30 days)
• January 2022 BTC Equivalent mined increased 11% MoM

• • Despite a 17% decrease in average BTC price between December ($49,263) and January ($41,114)

• If planned transformer upgrades were excluded, BTC Equivalent mined would have increased 20% MoM
• Pre-construction activity for the first 50MW of our Dorothy Project is complete and anticipate breaking ground on this flagship facility this month
• Targeting energized capacity ramping to over 150 MW and hashrate scaling over 3 EH in Q4’22

Revenue & Contribution Margin Summary:

A presentation and corresponding video is available on the Company’s website at: https://www.solunacomputing.com/investors/updates/january2022monthlyflash

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