Soluna Unleashes First Batch Of NVIDIA GPUs, Expects To Generate $16M-$2M In Revenue Per Year As The Site Is Fully Deployed With Its Customers Based On Current Market Conditions. Over The Life Of The Contract, Expects To Generate A Total Of Between $38M-$80M
Raises $12.5 Million and Secures Sustainable Hosting for Generative AI Workloads
Soluna Holdings, Inc. ("SHI" or the "Company"), (NASDAQ:SLNH), a developer of green data centers for intensive computing applications including Bitcoin mining and AI, announced today it has successfully raised a credit facility of $12.5 million at its new subsidiary Soluna Cloud, Inc., marking the completion of the first tranche in a larger fundraising effort led by BitOoda Technologies and Imperial Capital.
This financing will support the launch of Soluna Cloud, and secure NVIDIA H100 GPUs leveraging a 3-year managed-services agreement at a Tier 3 hydro-powered data center in collaboration with the Company's Strategic OEM Partner. Soluna expects to generate $16.0 million to $26.0 million in revenue per year as the site is fully deployed with its customers based on current market conditions. Over the life of the contract, the Company expects to generate a total of between $38.0 million to $80.0 million.