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ALBANY, N.Y. - Soluna Holdings, Inc. (NASDAQ:SLNH), a company specializing in green data centers, has partnered with Luxor Technology Corporation to bolster the mining capabilities of BitMine Immersion Technologies (OTCQX:BMNR). Despite facing significant market challenges with its stock down nearly 70% over the past six months, according to InvestingPro data, the company has demonstrated remarkable revenue growth of 163% in the last twelve months. A new case study titled "Scaling Hashrate, Simplified: The Turnkey Mining Model That Delivered for BitMine" illustrates the successful collaboration between the companies.
The partnership enabled BitMine to more than triple its ASIC fleet’s nameplate hashrate to 251.056 PH/s, secure long-term power stability, and lock in consistent mining revenue terms. With Soluna’s renewable power and infrastructure at Project Sophie and Project Dorothy, and Luxor’s financial and operational expertise, including hashrate hedging and fleet optimization via LuxOS firmware, the model integrated power, infrastructure, and financial services into a predictable framework. The company maintains a strong gross profit margin of 69%, though InvestingPro analysis indicates challenges with short-term liquidity, showing a current ratio of 0.59.
John Belizaire, CEO of Soluna Holdings, emphasized the reduction of uncertainty in Bitcoin mining through this well-executed partnership. Ethan Vera, COO of Luxor Technology, highlighted the unique nature of the deal and the success in scaling BitMine’s operations.
The collaboration is presented as setting a new standard for Bitcoin mining, where power, operations, and financial strategy work together to drive efficiency and scale. The case study, based on a press release statement, demonstrates how the joint efforts of Soluna and Luxor have provided a seamless, scalable solution for BitMine.
Soluna Holdings focuses on transforming surplus renewable energy into global computing resources, operating data centers co-located with renewable power sources. Luxor Technology Corporation offers a suite of products and services for the mining and compute power industry, including an ASIC Marketplace, a Bitcoin mining pool, and a Hashrate Derivatives Desk.
The information in this article is based on the press release from Soluna Holdings, Inc. and does not include any forward-looking statements or marketing hype. It provides a factual account of the partnership’s achievements in enhancing BitMine’s Bitcoin mining operations. Based on InvestingPro Fair Value analysis, Soluna Holdings appears undervalued at its current market price. Investors can access 12 additional ProTips and comprehensive financial metrics through an InvestingPro subscription to make more informed investment decisions.
In other recent news, Soluna Holdings, Inc. has been actively advancing its green data center projects, focusing on both Bitcoin mining and AI hosting operations. The company announced the acquisition of a 60-acre land parcel for Project Rosa, which will utilize up to 187 megawatts of renewable energy, furthering its capacity for high-performance computing tasks. Additionally, Soluna has exited the ERCOT planning phase for Project Kati, expected to provide up to 166 megawatts of power. Project Dorothy has resumed operations after a scheduled maintenance outage and is now fully operational, with Project Dorothy 2 reaching a significant milestone in its construction phase.
Soluna has also expanded its partnership with Bit Digital, surpassing 12 megawatts in hosting capacity. In AI developments, Soluna Cloud is supporting the North American launch of Atlas Cloud’s DeepSeek R1, an AI inferencing platform powered by NVIDIA GPUs. Project Grace and Project Ada are making notable progress, with Project Ada launching a new AI service and Project Grace exploring innovative cooling technologies. These recent developments underscore Soluna’s ongoing efforts to leverage renewable energy for computing applications, including Bitcoin mining and generative AI.
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