Latest news with #ProjectRosa
Business Wire
3 days ago
- Business
- Business Wire
Soluna Holdings' CEO John Belizaire Shares Vision for Scalable Renewable Computing in 2025 Shareholder Letter
ALBANY, N.Y.--(BUSINESS WIRE)--Soluna Holdings, Inc. ('Soluna' or the 'Company') (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, today announced an open letter to shareholders from CEO John Belizaire. A longer version of the letter and updated investor presentation can be found on Soluna's Investor Relations webpage. Additionally, we will release an update to our Earnings Power Presentation in the coming weeks. Soluna's annual shareholder meeting is scheduled for August 18, 2025 at 10:00am EDT. Open Letter to Shareholders from John Belizaire, CEO of Soluna Holdings, Inc. Dear Shareholders, 2024 was a defining year for Soluna. We grew revenue by more than 80%, reached $38 million, and achieved positive cash flow from our Bitcoin Hosting business — proof that our model is working. We brought Project Dorothy 1A and 1B into full-year operation and launched our Demand Response Services (DRS), generating $2.1 million in new revenue. Project Dorothy 2, a 64% hosting capacity expansion, is now energized and is expected to reach 48 MW by year-end. We simplified our capital structure, secured flexible funding through a $25 million SEPA facility, and made the strategic decision to exit the HPE contract, redeploying resources toward dedicated AI and HPC infrastructure, which is in high demand and where we have a clear advantage. With the addition of Project Annie (75 MW), our first solar-powered site, Soluna's development pipeline now exceeds 773 MW across wind, grid, and solar-powered computing projects. Project Kati (166 MW) is shovel-ready, with Project Rosa (187 MW), Project Hedy (120 MW), and Project Ellen (100 MW) in active development. Soluna is no longer just proving its concept — we're scaling it. Looking Ahead: Building the Future of Renewable Computing In 2025, we plan to: Ramp Project Dorothy 2 to full capacity and increase recurring revenue from Bitcoin Hosting. Break ground on Project Kati, a flagship site for hybrid Bitcoin and AI workloads. Advance Project Rosa, a 187 MW site designed for large-scale computing. Expand and de-risk our pipeline, now exceeding 2.8 GW of AI and Bitcoin hosting capacity. Form new joint ventures to deploy capital efficiently and enter the AI infrastructure market with industry leaders. Strengthen our balance sheet, reduce debt, and own larger stakes in high-performing projects. We are building more than data centers. We are laying the foundation for the future of computing. Our ability to turn curtailed renewable energy into reliable, low-cost power for Bitcoin and AI workloads sets us apart. Soluna is positioned to lead this next era of energy and computing. We look forward to accelerating our growth, deepening our impact, and delivering strong returns for our shareholders. Thank you for your continued belief in our mission. Warm regards, John Belizaire Chief Executive Officer Soluna Holdings, Inc. Soluna's glossary of terms can be found here. 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. Other examples of forward-looking statements may include, but are not limited to, statements of Soluna's plans and objectives, including with respect to the development of Project Kati and our expectations with respect to the amount of renewable energy capacity Project Kati will deliver. Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ('SEC'), 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 SEC. 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. About Soluna Holdings, Inc. (Nasdaq: SLNH) Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna's pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna's proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit and follow us on: Soluna regularly posts important information on its website and encourages investors and potential investors to consult the Soluna investor relations and investor resources sections of its website regularly.
Yahoo
08-04-2025
- Business
- Yahoo
Company using renewable energy to power bitcoin operations hits major milestone: 'A critical achievement'
Soluna, a leading developer of sustainable data centers that convert excess renewable energy into computing power for energy-hungry applications — such as bitcoin mining and artificial intelligence — announced that it secured 60 acres of land to build a new 187-megawatt data center in Texas, an important milestone in its expansion efforts. According to a company news release, the data center, called Project Rosa, will be conveniently co-located next to a 240 MW wind farm, allowing it to directly harness a significant amount of renewable energy. The company said its data centers are always "strategically co-located with wind, solar, or hydroelectric power plants." "Securing these land agreements is a critical achievement for Soluna," John Belizaire, CEO of Soluna, said in a statement. "Project Rosa not only enhances our operational capacity but also reinforces our commitment to delivering sustainable, cutting-edge solutions in high performance computing." As Soluna moves closer to bringing the data center online, it will focus on completing the project's first phase, which includes securing definitive power purchase and land agreements. The next step will be hashing out plans for Project Rosa with the Electric Reliability Council of Texas, an independent system operator for 90% of the state's electric grid. While capturing wasted power from solar and wind farms and hydropower plants reduces cryptocurrency's massive pollution footprint and adds capacity to the grid, many crypto transactions consume huge amounts of energy — often derived from dirty fuel sources such as coal, oil, and gas. According to a United Nations University study, nearly 70% of the electricity used to power bitcoin mining globally in 2020 and 2021 came from dirty energy sources. During this period, the mining process produced more than 85 million metric tons (around 94 million tons) of carbon pollution — equivalent to burning 84 billion pounds of coal, according to the study. Considering crypto mining uses more electricity than entire countries — including Poland and Egypt — per a University of Cambridge analysis, and demand is only increasing, it's crucial for professional mining companies to lower the environmental impact of crypto and reduce strain on the energy grid. Soluna says its green data centers are 18% cleaner than traditional ones, signaling a step in the right direction. A new blockchain technology platform, Gigatons, that launched in 2024 could also help decarbonize the digital currency sector. When the cryptocurrency network Ethereum transitioned its platform from a "proof-of-work" consensus mechanism to a "proof-of-stake" system, it reduced its energy use by a staggering 99.95%. If more and more cryptocurrency platforms turn out to be less energy intensive, the industry may have an easier path to a more sustainable future even within those that still take a lot of energy, as there will be more time for scaling up renewable energy. For instance, Mara Holdings' recent acquisition of a Texas wind farm for bitcoin mining helps to put a bigger dent in the wider crypto world's energy needs if several other significant platforms do not require as much energy at the same time; there are only so many wind farms in existence or able to be built at one time. "We are excited to launch Project Rosa and continue our momentum in developing the future with Renewable Computing," Belizaire said in a 2024 Soluna news release. "This project represents a significant increase in our shovel-ready momentum as we grow our HPC and Bitcoin data center business." Should the government be paying us to upgrade our homes? Definitely Depends on how much it costs Depends on what it's for No way Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
