{"id":724929,"date":"2023-01-23T08:05:00","date_gmt":"2023-01-23T13:05:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/soluna-steps-closer-to-project-dorothy-revenue\/"},"modified":"2023-01-23T08:05:00","modified_gmt":"2023-01-23T13:05:00","slug":"soluna-steps-closer-to-project-dorothy-revenue","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/soluna-steps-closer-to-project-dorothy-revenue\/","title":{"rendered":"Soluna Steps Closer to Project Dorothy Revenue"},"content":{"rendered":"

<\/p>\n

Soluna Steps Closer to Project Dorothy Revenue<\/b><\/p>\n

Non-Dilutive Funding and Energization Plan in Motion<\/i><\/p>\n

ALBANY, N.Y.–(BUSINESS WIRE<\/a>)–
\nSoluna Holdings, Inc. (\u201cSHI\u201d or the \u201cCompany\u201d), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (\u201cSCI\u201d), a developer of green data centers for Bitcoin mining and other intensive computing has reached an understanding with certain strategic parties and executed a non-binding Letter of Intent to raise sufficient capital to energize Dorothy 1A and 1B. Should the transactions close as contemplated, they would not require the Company to issue equity.\n<\/p>\n

\nThe components of the transactions include a sale of a portion of the Company\u2019s equity interests in Project Dorothy as well as a modest loan against the project.\n<\/p>\n

\nProject Dorothy, the Company\u2019s 50 MW facility in Texas is rapidly proceeding to an energization date with its regulators as it moves to close these strategic transactions.\n<\/p>\n

\nMichael Toporek, CEO of Soluna Holdings, stated, \u201cWe continue to focus our efforts to energize Project Dorothy, our flagship project in Texas. Moving through the regulatory process has been a critical catalyst for us to now raise the appropriate financing to energize the site.\u201d\n<\/p>\n

\nProject Dorothy is anticipated to be one of the lowest-cost facilities of its kind in North America.\n<\/p>\n

About Soluna Holdings, Inc (SLNH)<\/b><\/p>\n

\nSoluna 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 Bitcoin 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\u2019s data centers enable clean electricity asset owners to \u2018Sell. Every. Megawatt.\u2019\n<\/p>\n

\nFor more information about Soluna, please visit www.solunacomputing.com<\/a> or follow us on LinkedIn at linkedin.com\/solunaholdings<\/a> and Twitter @SolunaHoldings<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230123005184\/en\/<\/a><\/span><\/p>\n

\nSam Sova
\n
VP, Marketing and Investor Relations
\n
Soluna Computing, Inc.
\n
sam@soluna.io<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Data Management Technology Cryptocurrency Nuclear Environment Other Energy Utilities Oil\/Gas Security Green Technology Coal Alternative Energy Energy Professional Services Telecommunications Software Networks Internet Hardware Electronic Design Automation<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Soluna Steps Closer to Project Dorothy Revenue Non-Dilutive Funding and Energization Plan in Motion ALBANY, N.Y.–(BUSINESS WIRE)– Soluna Holdings, Inc. (\u201cSHI\u201d or the \u201cCompany\u201d), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (\u201cSCI\u201d), a developer of green data centers for Bitcoin mining and other intensive computing has reached an understanding with certain strategic parties and executed a non-binding Letter of Intent to raise sufficient capital to energize Dorothy 1A and 1B. Should the transactions close as contemplated, they would not require the Company to issue equity. The components of the transactions include a sale of a portion of the Company\u2019s equity interests in Project Dorothy as well as a modest loan against the project. Project Dorothy, the Company\u2019s 50 … <\/p>\n

Continue reading “Soluna Steps Closer to Project Dorothy Revenue”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-724929","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSoluna Steps Closer to Project Dorothy Revenue - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/soluna-steps-closer-to-project-dorothy-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Soluna Steps Closer to Project Dorothy Revenue - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Soluna Steps Closer to Project Dorothy Revenue Non-Dilutive Funding and Energization Plan in Motion ALBANY, N.Y.–(BUSINESS WIRE)– Soluna Holdings, Inc. (\u201cSHI\u201d or the \u201cCompany\u201d), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (\u201cSCI\u201d), a developer of green data centers for Bitcoin mining and other intensive computing has reached an understanding with certain strategic parties and executed a non-binding Letter of Intent to raise sufficient capital to energize Dorothy 1A and 1B. Should the transactions close as contemplated, they would not require the Company to issue equity. The components of the transactions include a sale of a portion of the Company\u2019s equity interests in Project Dorothy as well as a modest loan against the project. 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