Soluna Holdings - CEO John Belizaire & CFO John Tunison Q&A - Q1 Earnings & Outlook!

Soluna Holdings executives review their Q1 earnings and provide an in-depth overview of their strategic shift toward a blend of Bitcoin mining and AI/HPC infrastructure development leveraging behind-the-meter renewable energy.

• Q1 revenue of $6 million and gross profit of $1.1 million reflect strategic contract shift from fixed-fee hosting to profit-sharing
• EBITDA loss improved to $1.6 million in Q1 2024, continuing positive trend from $3.5 million loss in Q3 2023
• Planning to reach 123 megawatts of operational capacity by year-end, almost doubling current capacity
• Development pipeline has grown to 407 MW with addition of 220 MW in new projects during Q1
• Combined operating and development pipeline approaches 700 MW capacity, equivalent to 45 exahash potential
• Behind-the-meter strategy provides power at below $0.035/kWh for Bitcoin mining and approximately $0.04/kWh for AI
• Patent portfolio expansion with second utility patent for modular data center design
• Pursuing three-way partnership model for AI/HPC infrastructure combining Soluna's power access with experienced data center operators
• Project Kati positioned as first major AI/HPC development with favorable location characteristics for inferencing applications
• Balance sheet improvements include simplifying capital structure, increasing unrestricted cash to $9.2 million

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