Soluna installs over 14.6K bitcoin mining machines at Texas, Kentucky sites

Soluna Holdings ( NASDAQ: SLNH ) said Thursday it has installed over 14.6K bitcoin ( BTC-USD ) mining machines for hosting customers at its Project Dorothy site in Texas and Project Sophie site in Kentucky. The move comes about two months after Soluna ( SLNH ) struck a 25 megawatt hosting contract with a bitcoin ( BTC-USD ) miner at the Sophie site, which "holds great revenue potential, estimated at $11.8 million on an annualized run-rate basis," it said. Since then, the company has deployed more than 7.6K machines for its hosting customer filling 23 MW of mining capacity, with around 812 petahashes per second (PH/s) installed hash rate. For Dorothy 1A, the company said last month it signed a contract to fill its 25 MW capacity at the site with two hosting partners. SLNH said the revenue potential for the site is projected to reach $14.2M on an annualized run-rate basis. Over 7K machines from the deals have been deployed on the site filling 18 MW adding some 669 PH/s to the site's hash rate. "Ramping up these facilities in a safe, and timely manner continues our push to be cash flow positive from operations during the second half of 2023," Soluna Holdings CEO John Belizaire said in a statement. More on Soluna Holdings Soluna Holdings obtains 14 month extension on convertible notes Soluna Holdings CFO Philip Patman Jr. resigns