Soluna Announces Monthly Business Update

Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for Bitcoin mining and other intensive computing applications, announced its March 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:

• Strong Q4 – Announced Fourth Quarter and FY2023 Financial Results. View and download our CEO’s summary presentation here.
• Nvidia GTC Conference – Our CTO and CEO attended the Nvidia’s GTC2024 developer conference and continued discussions with potential customers and partners for our AI Venture.
• First AI Hosting Customer Deployed – we deployed the first phase of our new AI Hosting deal at Project Sophie.
• AI Technology Conference – John Belizaire is scheduled to present at the AI & Technology Hybrid Investor Conference presented by Water Tower Research and hosted by VirtualInvestorConferences.com, on April 10th, 2024.
• AMA - The Company published responses to investor questions in its monthly AMA for March. View the responses here.
• New Website – Soluna launched a new website that tells our story and focuses on building Renewable Computing for Bitcoin Mining and AI.
• Monetized Wasted Energy – curtailed energy consumed in February increased to 11,927 MWh, a 106% increase compared to January.
• Patent Awarded – One of Soluna’s two utility patent applications filed by the Company was granted (Patent # US20230013746A1) in 2023, and focuses on the layout of modular data center buildings on a site, crucial for thermal efficiency conversion of wasted energy into computing.

Key Project Updates:

Project Dorothy 1A (25 MW, Hosting) / Project Dorothy 1B (25 MW, Prop-Mining):

• Executed supplemental agreement with one of our strategic hosting partners to expand the deployed fleet at the site to take advantage of additional efficiencies identified in power design.
• Optimal weather conditions continued for a very strong month of consistent operations with low amounts of data center curtailment.

Project Dorothy 2 (50 MW):

• Our Power partner’s approval process is near complete.
• The construction Bid process is near complete. Potential construction partners will be selected soon.

Project Sophie (25 MW, Hosting with Profit Share):

• Installation of our first AI customer was completed and transitioned to steady state operations.
• Infrastructure upgrades underway to improve hosting customer experience.

Project Kati (166 MW):