ALBANY, N.Y.–(BUSINESS WIRE)–Soluna Holdings, Inc., (NASDAQ: SLNH), a developer of green data centers for intensive computing applications including Bitcoin mining and AI, announced its December 2024 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:
- AI Deal Signed with San Francisco Compute Company: Soluna will deliver custom AI cloud solutions to its first customer following strategic collaboration with Hewlett Packard Enterprise (HPE) GreenLake. Learn more here.
- AI Deal Signed with Atlas Cloud: Soluna will provide Atlas with 64 Nvidia H100 GPUs and potentially scale to more to support Atlas’ advanced AI video processing workloads. Learn more here.
- Convertible Notes, Final Convert, and Payoff: Soluna announced the completion of a final conversion and payoff of outstanding convertible notes. Learn more here.
- Flexible Financing for Sustainable AI: Soluna launched its partnership with Gynger to offer flexible financing options for AI enterprises. Get started here.
- Advisory Board: Soluna announced the appointment of data center expert Ernest Popescu to the Advisory Board. Learn more here.
- New Podcast: Soluna’s new limited series explores the intersection of AI and sustainability. Listen to it here.
- Curtailed Energy Milestone: As of November, Project Dorothy reached a milestone of over 100GWh of curtailed energy monetization. This is equivalent to powering approximately 11,500 H100s for a year.
- New Video: CEO John Belizaire shares Soluna’s story and the future of Renewable Computing from the grounds of Project Dorothy. Watch it here.
Key Project Updates:
Project Dorothy 1A (25 MW, Bitcoin Hosting) / Project Dorothy 1B (25 MW, Bitcoin Prop-Mining):
- Two new customer deployments totaling 20 MW of upgraded equipment are nearing completion at Project Dorothy 1A.
- Transformer failure impacted self-mining hashrate, incurring 3 weeks of downtime for 2 MDCs at Project Dorothy 1B. This issue has been resolved.
- Project Dorothy 1A and 1B will each incur a 1-week outage in mid-January to support the substation interconnection work planned and required for Project Dorothy 2.
Project Dorothy 2 (48 MW, Bitcoin Hosting):
- The substation interconnection planning is complete with the electrical tie-in scheduled for mid-January.
- Phase 1 construction – the first 16 MW – continues to progress as major electrical equipment for each MDC is in the process of being set.
- Phase 1 commissioning preparation is underway with the core network installation planned for mid-January and the interviewing of full-time staff in process.
- The latest photos of the construction progress can be found here.
Project Grace (2 MW at Dorothy 2, AI Cloud/Hosting):
- Microgrid concept design, Phase 1 is nearing completion. This will inform timelines and layout.
- Helix Phase 1 concept design is nearing completion.
Project Ada (1 MW, AI Cloud with HPE):
- Fluidstack signed a Letter of Intent to reserve 512 H100 GPUs by the end of January or early February.
- SFCompute usage continued to ramp through the holidays, and the first revenue report is due in mid-January.
- 128 additional H100 GPUs are slated for a new serverless offering with Atlas Cloud. We are negotiating terms.
- Proposals were sent to several new prospects for over 544 GPUs with 3, 6, and 12-month terms.
- The AI pipeline now conservatively exceeds 864 H100 GPUs.
Project Sophie (25 MW, Bitcoin Hosting with Profit Share, AI Hosting):
- Site operations remain very strong and at full capacity.
Project Kati (166 MW, Bitcoin Hosting and AI):
- Requests for quotes (RFQ) have been sent on long-lead electrical infrastructure.
- The design scope is being finalized for the first 83 MW of Bitcoin Hosting with an EPC bid process to be facilitated in February.
- Final round of negotiations are underway with the landowner and expect to complete by the end of January.
Customer Success:
- Agreement reached and in the process of deploying a 3rd expansion request with customer Bit Digital.
- Deploying the first batch of next-generation units (S21s) with upgraded site infrastructure at Project Dorothy.
- Agreement reached and in the process of deploying a 2nd expansion request with customer Bitmine Immersion Technologies.
- Request for proposals for Dorothy 2 Bitcoin Hosting launched.
View Soluna’s recent AMA here.
View Soluna 2024 Earnings Power Presentation here.
About Soluna Holdings, Inc (SLNH)
Soluna is on a mission to make renewable energy a global superpower using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna’s pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna’s proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions, and superior returns. To learn more visit solunacomputing.com. Follow us on X (formerly Twitter) at @SolunaHoldings.
