Soluna Holdings announces site-level financials for August

Despite the ongoing low BTC price environment and energy market volatility, Soluna continues to deliver healthy results and remains focused on Dorothy’s energy supply

ALBANY, NY–(BUSINESS WIRE)–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 data processing, today announced the release of its August site-level financials.

Soluna Holdings CEO Michael Toporek stated, “Soluna continues to deliver healthy hash rates and margins despite low BTC prices and energy market volatility. In the near term, our focus is on powering the first 50 MW of our next-generation Dorothy facility to scale Soluna. Our development pipeline continues to grow as renewable energy producers continue to view computing power as their preferred limiting solution.”

Summary of the main highlights:

  • BTC production surges despite volatile market

    • Mined BTC equivalent is up 6%, while July-August BTC prices are up around 4%

    • The peak hashrate stayed above 1EH/s

  • Cash margins remain healthy

    • 20% Consolidated Contribution Margin despite low BTC environment and high energy costs

      • 26% Cash Contribution Prop Mining Margins slightly offset by weaker hosting margins
  • Marie’s 10MW hosting contract renewed with important new terms

    • The contract has been restructured to better respond to power fluctuations

    • Expected hosting margins on new contracts are expected to increase

Summary of sales & contribution margin:

*All numbers below exclude legacy hosting
**August & July adjustment Cash contribution margins normalized to FCA costs in June – see p21 of presentation for details
**Excluding FCA cost adjustment, July Cash Contribution Margin was $413

($ in thousands, unaudited)



FY 21

Q1 2022

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cash contribution margin









Cash Contribution Margin (normalized electricity costs)









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Annualized Contribution Margin









Note: Represents non-GAAP financial measures.

A presentation and related video are available on the Company’s website at:

About Soluna Holdings, Inc (SLNH)

Soluna Holdings, Inc. is the leading developer of green data centers that convert surplus renewable energy into global computing resources. Soluna builds modular, scalable data centers for compute-intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna offers a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and conscious design to solve complex, real-world challenges. Up to 30% of electricity from renewable energy projects can be wasted. Soluna data centers enable owners of clean power assets to “sell”. Everyone. Megawatt.’

For more information about Soluna, please visit or follow us on LinkedIn at and Twitter @SolunaHoldings.


Philip F. Patman, Jr.


Soluna Holdings, Inc.
+713 906 5705

MZ contact
Brian M. Prenoveau, CFA

MZ Group – MZ North America
+561 489 5315

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