Soluna Holdings director Michael Toporek sells $6,780 in stock

ALBANY, NY—Michael Toporek, a director and significant shareholder of Soluna Holdings, Inc. (NASDAQ:SLNH), a company currently valued at $24.6 million, recently sold shares of the company, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock has shown significant volatility, trading at $2.95, down nearly 17% in the past week. The transactions, which took place over two days, involved the sale of 674 shares of Soluna's 9.0% Series A Cumulative Perpetual Preferred Stock.

On December 10, Toporek sold 100 shares at a price of $10.40 per share. The following day, he sold an additional 574 shares at $10.00 per share. The total value of these transactions amounted to $6,780.

Following these sales, Toporek retains ownership of 1,246,188 shares of the preferred stock. The transactions were reported to have been executed directly by Toporek. With a current ratio of 0.59 and significant price volatility, investors seeking deeper insights into Soluna's financial health can access 8 additional key metrics on InvestingPro.

In other recent news, Soluna Holdings has reported significant developments. The company disclosed a 362% increase in Q2 2024 revenue and secured key funding, including a $25 million Standby Equity Purchase Agreement with Yorkville Advisors Global L.P. and $30 million for the expansion of its flagship data center, Project Dorothy 2. A $34 million cloud services agreement with Hewlett Packard Enterprises is expected to generate up to $80 million in revenue over the next three years.

The company also announced the commencement of new customer deployments at Project Dorothy 1A and 1B, enhancing Bitcoin hosting capabilities. Progress continues on projects such as Project Grace and Project Ada, focusing on AI advancements. Furthermore, Soluna Holdings has appointed John Tunison as its new Chief Financial Officer.

Stockholder votes approved the amendment of Soluna Holdings' stock incentive plan and the potential issuance of common stock exceeding Nasdaq's exchange cap. The company also announced Project Rosa, a green data center project offering up to 187 megawatts of capacity, powered by an adjacent 240 MW wind farm in Texas. These are recent developments and reflect Soluna Holdings' ongoing efforts to integrate computing with renewable energy to drive both environmental benefits and financial performance.

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