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Soluna Holdings, Inc. (NASDAQ:SLNH), formerly known as Mechanical Technology Inc., received a notice from The Nasdaq Stock Market LLC on Thursday, May 8, 2025, indicating that the company’s common stock had not met the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The micro-cap company, currently valued at just $9.89 million with shares trading at $0.81, has seen its stock price decline by nearly 70% over the past year, according to InvestingPro data. The company’s shares have closed below the $1.00 minimum bid price for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
Despite the notice, there is no immediate impact on the trading of Soluna Holdings’ common stock. Under Nasdaq’s rules, the company has 180 calendar days, until November 4, 2025, to regain compliance. To achieve this, the closing bid price of Soluna Holdings’ stock must be at or above $1.00 per share for at least ten consecutive business days during this period. With the company’s upcoming earnings report scheduled for May 14, 2025, and an overall Financial Health Score rated as WEAK by InvestingPro, investors should closely monitor developments. InvestingPro subscribers can access 11 additional key insights about SLNH’s financial position and market performance.
If compliance is not met by the deadline, Soluna Holdings may be eligible for an additional 180-day period to regain compliance. Failure to meet the requirements after this extension could lead to delisting, with the company having the option to appeal the decision before a Nasdaq hearings panel.
Soluna Holdings has stated its intention to monitor its stock’s closing bid price closely and to consider possible actions to comply with the Nasdaq Listing Rules.
This news is based on a press release statement.
In other recent news, Soluna Holdings, Inc. has announced a series of developments in its renewable energy projects. The company has expanded its Bitcoin hosting capacity by 60% with the activation of Project Dorothy 2, expected to be fully operational by Q4 2025. Soluna also secured a $5 million non-dilutive debt financing from Galaxy Digital (TSX:GLXY), highlighting its strong project-level cash flows. Additionally, the company signed a term sheet for Project Hedy, a 120 MW data center in Texas, which will be co-located with a 200 MW wind farm. This project aims to integrate high-intensity computing with renewable energy sources. Soluna Holdings has also entered an at-the-market offering agreement with H.C. Wainwright & Co., potentially raising up to $3.75 million through common stock sales. The company continues to expand its green data center projects, with ongoing developments in Project Kati and Project Sophie. These initiatives underscore Soluna’s commitment to leveraging surplus renewable energy for computing applications.
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