Soluna Secures 8.8 MW Hosting Deal with Leading Bitcoin Miner

1-Year Term Keeps Sophie at its 25 MW Hosting Capacity

ALBANY, N.Y., January 22, 2024–(BUSINESS WIRE)–Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for Bitcoin mining and other intensive computing applications, announced today an 8.8 MW hosting contract with an industry leading Bitcoin miner at Soluna’s Project Sophie in Kentucky.

The 1-year arrangement is to host S19 and S19 Pros under a profit-sharing arrangement with the customer. This is part of a corporate plan for Project Sophie to further enhance profitability.

CEO of Soluna Holdings, John Belizaire commented, “Our new partner shares a vision for Bitcoin’s potential to advance and support a low-carbon future. We’re thrilled to collaborate with industry leaders on a common mission.”

Soluna is preparing the site to begin phasing in the customer’s hardware over the next several weeks.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.

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About Soluna Holdings, Inc (SLNH)

Soluna 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’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’

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