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ALBANY, N.Y. - Soluna Holdings, Inc. (NASDAQ:SLNH), a company specializing in green data centers currently valued at $10 million and identified as undervalued by InvestingPro analysts, announced the acquisition of a 60-acre land parcel for its upcoming Project Rosa data center, which will be powered by up to 187 megawatts (MW) of renewable energy. The development is aimed at bolstering the company’s capacity for high-performance computing tasks, including artificial intelligence (AI) and Bitcoin mining.
The land purchase agreement positions Project Rosa adjacent to a 240 MW wind farm in Texas, allowing the data center to utilize a significant portion of this renewable energy source. The project, which will unfold in two phases, is a strategic move by Soluna to expand its operations and adhere to its mission of leveraging excess renewable energy for sustainable and scalable data center solutions. The company has demonstrated strong revenue growth of 163% in the last twelve months, though InvestingPro data indicates challenges with cash burn and liquidity, with a current ratio of 0.59.
Soluna’s CEO, John Belizaire, emphasized the importance of the land acquisition as a critical step towards achieving shovel readiness for the project. Belizaire highlighted that Project Rosa would enhance Soluna’s operational capabilities and align with its commitment to sustainable, advanced computing solutions.
Project Rosa is named in honor of Rosalind Franklin, a chemist renowned for her contributions to the understanding of DNA, RNA, and viral molecular structures. This naming tradition by Soluna pays tribute to women who have significantly impacted science and technology.
The announcement contains forward-looking statements and acknowledges that actual results could differ materially due to various factors. Soluna’s latest move reflects its ongoing efforts to transform surplus renewable energy into computing resources, supporting compute-intensive applications such as Bitcoin mining and generative AI.
Soluna Holdings, Inc. continues to integrate its proprietary software, MaestroOS™, to promote a greener energy grid while delivering cost-effective and sustainable computing.
This news is based on a press release statement and does not include any speculative or promotional content. For further information on Soluna and its projects, interested parties can visit the company’s website. Investors seeking deeper insights into Soluna’s financial health, including 16 additional ProTips and comprehensive valuation metrics, can access detailed analysis through InvestingPro.
In other recent news, Soluna Holdings, Inc. reported a significant year-over-year increase in revenue, with year-to-date figures reaching a record $29.7 million. The company announced progress on several projects, including the completion of substation interconnection civil work for Project Dorothy 2, which is set for an electrical tie-in in mid-January. Soluna’s Project Grace and Project Ada are advancing in the AI space, with Project Ada launching an on-demand GPU service in collaboration with SFCompute. Soluna Holdings also hosted an "Ask Me Anything" session, allowing investors to engage with management and potentially access previously undisclosed material information. Additionally, Soluna has added Ernest Popescu, a tech veteran with extensive data center experience, to its advisory board. The company’s Project Dorothy 1A and 1B have commenced new customer deployments, enhancing Bitcoin hosting capabilities by 20 megawatts. Other projects, such as Project Sophie and Project Kati, continue to progress with updates on operational capacity and substation interconnection work. These recent developments underscore Soluna Holdings’ ongoing commitment to integrating renewable energy with high-performance computing solutions.
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