Hyperscale Data Sells 685 Bitcoin for $43M, Soluna Prepaid $19.1M Debt
SLNH has more than doubled off its 52-week low of $0.415.
Summary
Soluna's Q2 revenue of $15.1M (up 145% YoY) was already reported on Aug 13, but this headline adds new material facts: Hyperscale Data sold 685 Bitcoin for ~$43M and still holds 275 BTC, HSDT reported Q2 revenue of $2.5M driven by 31,200 Solana staking rewards with a net loss of $30.3M, and Soluna prepaid $19.1M of Generate debt in full on August 10. The Bitcoin sale provides liquidity for Michigan data center expansion and debt/equity optimization, while the debt prepayment removes a covenant breach risk flagged in the 10-Q. The Solana staking revenue is a new revenue stream for HSDT. Watch for how the remaining 275 BTC is deployed and whether the Michigan expansion accelerates.
At the time of this announcement, SLNH was trading at $1.30 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $320.4M. The 52-week trading range was $0.42 to $5.14. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Binance News.