Summary:
Soluna Holdings, the parent company of Soluna Computing, has announced major developments and updates on its December project site operations. The company has achieved significant milestones at its current project sites and is making progress on new developments for its highly efficient data centers. The company has joined ERCOT’s Demand Response program, marking an important step in diversifying its revenue streams. Additionally, there has been a significant increase in hashprice in November and December, leading to a boost in the financial performance of Project Dorothy 1B and Project Sophie.
Introduction:
Soluna Holdings, the parent company of Soluna Computing, has provided updates on its December project site operations and major project developments. The company has achieved significant milestones at its current project sites and is making progress on new project developments for its highly efficient data centers.
Main Points:
1. Corporate Highlights: Soluna Holdings has completed its Ancillary Services registration, which allows the company to participate in ERCOT’s Demand Response program. This is a key milestone in the company’s plan to diversify its revenues. Project Dorothy 2 and Project Kati continue to make progress in their development, with Project Kati expected to exit the ERCOT planning phase before the end of Q1 2024. The hashprice has seen a significant increase in November and December, resulting in improved financial performance for Project Dorothy 1B and Project Sophie.
2. Key Company Metrics: The company has updated its reporting methodology for power and hashrate data. The metrics for all sites as of December 13, 2023, include installed hashrate, total installed power capacity, average operating hashrate, prop mining, hosting, average power cost, curtailed energy consumed, and the number of bitcoin miners deployed.
3. Project Updates and Metrics: The updates for Project Dorothy 1A, Project Dorothy 1B, and Project Sophie include metrics such as total power consumed year-to-date, curtailed energy consumed year-to-date, average operating hashrate, total bitcoin mined year-to-date, and additional full-time hires made. Project Dorothy 2 and Project Kati are also progressing, with construction bid periods and procurement of long-lead equipment underway.
Conclusion:
Soluna Holdings has achieved significant milestones and made progress on new project developments for its highly efficient data centers. The company’s participation in ERCOT’s Demand Response program and the increase in hashprice have positively impacted its financial performance. Project Dorothy 1A, Project Dorothy 1B, and Project Sophie have shown improvements in their metrics, and Project Dorothy 2 and Project Kati are progressing as planned. Soluna Holdings is positioning itself for success in 2024 and beyond.