Soluna Says Co Will Be Able To Make Over $10/MWh In Additional Revenue To Project Dorothy Providing This Grid Resilience Support And Potentially Reduce Its Power Costs Below $20/MWh, Making It Among The Lowest Cost Players In The Industry
Portfolio Pulse from Benzinga Newsdesk
Soluna Holdings, Inc. has registered for ERCOT's Demand Response Program, which will allow the company to generate over $10/MWh in additional revenue for Project Dorothy and potentially reduce power costs below $20/MWh. This positions Soluna as one of the lowest cost operators in the industry. The company also reported strong Q3 results with a 176% increase in revenue and an operating profit milestone. Additionally, Soluna completed the Third Amendment of October Notes to facilitate early payoff of convertible notes, signed new hosting customers at Project Sophie, and established an Advisory Board with AI and data center experts to expand its pipeline of candidates with AI expertise.
November 30, 2023 | 4:38 pm
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Soluna Holdings, Inc. is set to increase revenue and reduce power costs through ERCOT's Demand Response Program, reported a significant increase in Q3 revenue, and is taking strategic steps such as paying off convertible notes and expanding its hosting services.
The news is highly relevant to Soluna Holdings as it directly pertains to the company's financial performance and strategic initiatives. The positive Q3 results and the potential for increased revenue and reduced costs are likely to be viewed favorably by investors, which could lead to a short-term increase in the stock price. The establishment of an Advisory Board and the diversification of hosting customers are also positive developments that could contribute to investor confidence.
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