• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • TWS, Singapore (July 28-29, 2025)
    • WFIS, Philippines (September 23-24, 2025)
    • Forex Expo Dubai (October 6-7, 2025)
    • Merge Madrid (October 7-9, 2025)
    • European Blockchain Convention, Barcelona (October 15-17, 2025)
    • Blockchain Futurist Conference, Florida (November 5-6, 2025)
    • WFIS, Indonesia (November 25-26, 2025)
  • Past Events
    • Blockchain Life
    • BlockShow Europe
    • Event Horizon

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies

Join us on Telegram: https://t.me/crypto_reporter
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

Soluna Holdings Announces June Site Level Financials

July 20, 2022 By GlobeNewswire


Despite Continued BTC Price Decreases in June, Soluna Continues to Grow Hashrate and Intends to Invest through the Cycle

ALBANY, NY, July 20, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Soluna Holdings, Inc. (“SHI” or the “Company”), (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 June site level financials.

Michael Toporek, CEO of Soluna Holdings, stated, “Soluna continues to prove its business model despite a decline in BTC price. The company’s strong operating base of ultra-low energy cost assets have continued to perform well as they were designed to do in challenging macro environments.”

Key Summary Highlights:

  • Seasonal factors affect revenue in June, but increased capacity softens impact 
    •  BTC Equivalent Mined per day increased by 2% despite average BTC prices decreasing by 38%.  
    •  Average Hashrate deployed was flat Month-over-Month with peak hashrate remaining above 1 EH/s.* The flat hashrate was due largely to seasonal factors including TVA curtailments and weather related hash rate reductions.
  • Drivers to margin growth
    •  43% prop mining cash contribution margins despite low BTC environment.
    •  Sophie maintained its 84% uptime for power costs of 2.5-2.7 ¢ per kWh.
    •  Ability to run Marie at lower uptime and cheaper power cost if BTC prices fall further.
  • Focus on investing through the cycle
    •  Long-term pipeline of opportunities near 2GW.
    •  Computing equipment prices down ~70-80% since January, < 1 year payback period on new miners.
    •  Continued focus on robust ROIC.

*Excludes pro-forma impact of forced shutdown at Marie in April


Revenue & Contribution Margin Summary:

($ in 000s, Unaudited)Q1 2021Q2 2021Q3 2021Q4 2021FY 21Q1 2022June 
Est.
Revenue$995 $1,657 $2,368 $7,990 $13,010 $9,264 $2,280
Cash Contribution Margin$744 $1,261 $1,703 $5,179 $8,888 $5,206 $835
Annualized Revenue$3,980 $6,628 $9,472 $31,960 $13,010 $37,056 $27,360
Annualized Contribution Margin$2,976 $5,044 $6,812 $20,716 $8,888 $20,824 $10,020

A presentation and corresponding video is available on the Company’s website at:
https://www.solunacomputing.com/investors/updates/june2022flash/

Video and transcript will be uploaded separately prior to 12pm.

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, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides 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 of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’

For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings. 

Contact Information
Sam Sova
VP, Marketing
Soluna Computing
sam@soluna.io
+414 699 3667

MZ Contact
Brian M. Prenoveau, CFA
MZ Group – MZ North America
SLNH@mzgroup.us
+561 489 5315


Filed Under: News Feed

Primary Sidebar

Follow Us

Press Releases

Little Pepe (LILPEPE) Momentum Impresses, But Bitcoin (BTC) Needs to Hold This Level to Continue Uptrend Toward $118,000

July 12, 2025

How To Turn $100 into $100k With This New Crypto Presale! Why Solana and Chainlink Whales Are Jumping Ship!

July 12, 2025

BlockchainFX Presale Crosses $3.18M as the Best Crypto to Buy for July 2025 as Cosmos Breaks Out and Tron Expands

July 12, 2025

The Next Big Altcoin Could Surge 10x Higher Than Dogecoin & BONK After 300% Rally

July 11, 2025

The Hashgraph Group Partners with MPBCDC (Government of Maharashtra) to Build India’s First State Carbon Bank on Hedera

July 11, 2025

TWS Conference

Forex Expo Dubai

Merge Madrid

Futurist Conference

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2025 Crypto Reporter