Soluna Holdings Inc (SLNH)

[Amigo Mike]

Nice dump in BTC price this weekend is likely to result in some pain for SLNH this week. So be it. I'll be happy to pick up some shares cheaper.

Amigo Mike

[Amigo Mike]

I've been following this one for less than a year but during that time, everything I have seen from the CEO has spelled out the plan very clearly, spelled out options to make it happen .... and the company has executed to plan and even executed quicker in some cases.

Very straightforward .... and has basically done everything he's said. He and mgmt are aligned to shareholders. One of the CEO discussions talks about goals ..... and he's on a mission to make SLNH a global billion dollar company. And it's not likely that it will be just a bitcoin minor. Even mentions moving in on AMZN for computing intensive services cause SLNH can do it cheaper. But regarding bitcoin, IMO, services I follow indicate the expectation that bitcoin will continue northward and eventually cross $100,000 which for SLNH ..... just increases the profits.

Personally, IMO, the only thing missing is more investors and higher prices. This is among the "greenest" of miners and lowest cost. It's price relative to peers is still too low. =)

Amigo Mike

[couldbebetter]

Management seems very dedicated to be honest and above board with
investors. Very rare to have management that are both competent and
ethical. Personally, this could be a very fun stock so long as one
is always in a position to buy on declines. Should the company
succeed, some speculate that management will be looking to sell
the company in order to maximize their own returns. That being said
I am going to patient as I scale into this. There are several stocks
I am looking at that could have a shot at a 3-9X return over a 2-3
year period. I'd love to get into this at $6 but I will be patients
as it may never get back to that level an I may end up paying more
which is fine so long as I hit my return target in a reasonable
time frame.

[Amigo Mike]

Couldbebetter,

I'd encourage you to look at the latest company presentation on their investor page. It's about 40 minutes long but discusses current and 2022 expectations. $120 -$160 million EBITDA run rate by 4q of 2022.

Toporek said that he'll be providing the 2022 plans to investors mid December so we should be getting mgmt view into 2022 and how the current projects are progressing shortly.

Today's prices for SLNH IMO are a gift. And Mgmt is fully aligned with investors. CEO and his firm own more than a 1/3rd of the company.

So far he's one of the better CEOs I've come across in recent times and is getting the job done.

https://www.solunacomputing.com/investors/

Amigo Mike

[couldbebetter]

Amigo Mike, I get the concept but I wonder exactly how profitable this
could be for SLNH. Anyone who can provide any details on how much money
this could make SLNH?

[Amigo Mike]

It is a shame that most people don't get what a shelf registration is .... and especially so a shelf offering by a company that has competent management. Don't get me wrong ... shelf's can be completely mismanaged and in some instances are done by lazy / incompetent mgmt. But that isn't the case for SLNH.

We already knew SLNH required more capital to bring on more capacity in 2022. This registration is in preparation of that need.

Key point in the PR, this is a mixed registration covering different forms of funding.

“With the filing of this registration statement, we believe we gain important financial flexibility and access to additional forms of growth capital, especially non-dilutive instruments.”

Toporek has been careful with the issuance of new stock and I expect that continues.

Amigo Mike

[Amigo Mike]

Soluna Holdings Files Universal Shelf Offering
December 01 2021 - 07:00AM
GlobeNewswire Inc.
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via NewMediaWire -- Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology), a developer of green data centers for cryptocurrency mining and other intensive computing, announced today that it has filed a "universal shelf" registration statement on Form S-3 with the Securities and Exchange Commission (SEC) for the registration of Common Stock, Preferred Stock, Debt Securities, Warrants, Units, and the Subscription Rights, as well as the resale of certain securities privately offered by the Company.
When declared effective by the SEC, the shelf registration statement will allow the Company to raise capital, up to an aggregate of $150.0 million, excluding the resale of certain securities privately offered by the Company. The specifics of any future offering, along with the prices and terms of any such securities and the use of proceeds of a particular offering, will be determined at the time of any such offering and will be described in a prospectus supplement filed in connection with such offering. Once declared effective by the SEC, the shelf registration statement will be in effect for three years, or such shorter period that the securities registered under the shelf registration statement have been issued or sold.

“Today’s shelf registration statement was filed in the ordinary course of business,” said Michael Toporek, Soluna’s CEO. "Over this past year, we have been executing against an aggressive growth plan and achieved several critical milestones as we continue to build and transform our company. With the filing of this registration statement, we believe we gain important financial flexibility and access to additional forms of growth capital, especially non-dilutive instruments.”

The registration statement on Form S-3 has been filed with the SEC but is not yet effective. Securities may not be sold nor may offers to buy such securities be accepted prior to the time that the registration statement is declared effective by the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state.

Any offering of the securities will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. The Company will not receive any proceeds from any sale of securities by the selling stockholders.

About Soluna Holdings, Inc. (formerly Mechanical Technology, Incorporated)

Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology, Incorporated) is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna's MTI Instruments division manufactures precision tools and testing equipment for electronics, aviation, automotive, power and other industries. Both Soluna and MTI Instruments use technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’

For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.

[Amigo Mike]

Conix,

You are a month behind there buddy ! But its ok ... maybe market needs a reminder.

SLNH relative to other miners is ridiculously cheap. Still undiscovered in my book. Looks to be consolidating at higher levels for the time being. I may start to pick off more shares here as I see this as a strong hold for at least the next 12 months.

Looking forward to the next update from Toporek. Company has executed quite well thus far and I expect it to continue.

Amigo Mike

[conix]

Mechanical Technology Announces Name and Ticker Change to Soluna Holdings (SLNH)



ALBANY, N.Y., November 4, 2021 – Mechanical Technology, Incorporated (“MTI” or the “Company”), (NASDAQ: MKTY), the parent company of EcoChain, Inc. (“EcoChain”), a cryptocurrency mining business powered by renewable energy, and MTI Instruments, Inc. (“MTI Instruments”), a test and measurement instruments and systems business, today announced that it has completed its official name change to Soluna Holdings, Inc. and new ticker symbol for its common stock to SLNH and SLNHP for its preferred stock. The ticker change is scheduled to become effective on November 4th.

Michael Toporek, CEO of MTI, stated, “The closing of the Soluna transaction marks an acceleration in our growth as we acquired over 300MW of development pipeline and seek to move our capacity from our 1 Exhash target to over 4 Exahash by year end 2022. We also become a premier provider of solutions to the renewable energy sector as we help them monetize every megawatt they generate. Changing our name to more accurately reflect our business was a natural step in our evolution.”

About MTI

MTI is the parent company of EcoChain, Inc. and MTI Instruments, Inc. Through EcoChain, MTI develops cryptocurrency mining facilities powered by renewable energy that integrate with the blockchain network. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real-world applications in numerous industries. Those include manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. For more information about MTI, please visit https://www.mechtech.com.

Forward Looking Statements

Certain statements in this press release constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Actual results could differ materially from those expressed or implied by such forward-looking statements as a result of various factors, including, but not limited to: (1) those risk factors set forth in the Company’s Registration Statement on Form S-1 (File No. 333-257300), as amended; and (2) other risks and uncertainties that may be detailed from time to time in MTI’s reports filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.

Contact Information:

Lisa Brennan
[e-mail]

Investor Relations:

Kirin Smith, President
PCG Advisory, Inc.
[e-mail]

[Amigo Mike]

Soluna Launches Curtailment Assessment Service for Clean Power Producers
November 29 2021 - 07:00AM
GlobeNewsWire Inc.

Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology), a developer of green data centers for cryptocurrency mining and other intensive computing, announced today that it is now offering a custom estimating service for clean energy power plant owners and developers looking to reduce costly curtailment problems. The custom Curtailment Assessment is an NDA-protected review of proprietary, project-level data to estimate both lost and recoverable revenue with the addition of flexible offtake of curtailed power by Soluna’s modular data centers (MDC).
“We started as a wind developer, so we know that curtailment can steal up to 30 percent of an asset owner’s power generation/profit potential,” said Soluna Computing CEO John Belizaire. “That’s been accepted as a given. We say it’s now an avoidable cost, and we’re out to show asset owners that they don’t have to watch their margins drain away.”

Curtailment occurs when clean electricity providers, such as solar and wind farms, cannot sell all their power to a congested or over-supplied grid or must sell it at a loss. Curtailment costs power plant owners up to $2 million per year due to a failure to deliver on contracted power purchase agreements (PPAs), the loss of Production Tax Credits (PTC), and Renewable Energy Certificates (RECs).

Soluna’s Curtailment Assessment is a groundbreaking, proprietary service that analyzes a producer's historical data to determine how much additional revenue owners can see by incorporating flexible energy demand on-site from the company’s modular data centers.

Curtailment Assessment Process

Power partners who are interested in receiving a custom assessment can submit data to Soluna for analysis under NDA. Once received, Soluna’s team analyzes the data, develops the custom Curtailment Assessment and a plan to solve the profit bleed. This plan will include a detailed look at the project’s total output, curtailed energy, seasonality and the financial impact of curtailment.

Soluna’s Curtailment Assessment develops options for boosting revenue, including various sized modular data centers that range from 50 MW to 150MW. The data centers are developed behind the meter to add flexible demand that converts curtailed energy into additional revenue. Soluna can develop and build a modular data center within six months.

Renewable Energy Project Owners, Developers, and Asset Managers can schedule a call to initiate their custom Curtailment Assessment here.

“We want to make renewable energy a global superpower, and we will do that by offering our computing centers as an immediately available, cost-effective alternative to battery storage for utility-scale renewable energy plants,” continued John Belizaire.

Having batchable computing capability such as cryptocurrency mining on-site can increase the revenue of a renewable energy project up to 20% to 30%. These on-site scalable data centers consume every excess megawatt that the solar panels or wind turbines aren’t able to sell.

About Soluna Holdings, Inc. (formerly Mechanical Technology)

Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology) is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna Holdings formed when Mechanical Technology, Inc. (MTI) acquired Soluna Computing in 2021. Soluna's MTI Instruments division manufactures precision tools and testing equipment for electronics, aviation, automotive, power and other industries. Both Soluna and MTI Instruments use technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’

For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.

[Amigo Mike]

New name and ticker updated !

Nice consolidation for SLNH these last couple days.

Took opportunity to pick off a few more shares Friday. Will add if there is further weakness as I think the market is still not yet finding SLNH.

BTC consolidating a bit but I believe it's still on its way to 6 figure value at some point which makes SLNH that much more compelling. SLNH still rocks even if BTC price is cut in half.

Also eager to see how SLNH eventually moves in on AMZN computing services at much lower cost to consumers. (Beyond BTC mining)

Expecting big future for this company and fully believe Toporek can build this into a billion dollar company.

Amigo Mike

[Amigo Mike]

Must see update from Soluna CEO Toporek.

https://www.mechtech.com/mti-announces-quarter-three-2021-results/

The video lays everything on the table and if you don't own the stock, don't know how you can't not go out and buy some after watching it. Compelling upside for this company. Quality mgmt.

Amigo Mike

[Amigo Mike]

Submitted 2 requests to IHUB to change the board name and ticker here. Still nothing.

Hmmmmm ....
Amigo Mike

[Amigo Mike]

Soluna Holdings, Inc. (formerly Mechanical Technology), (NASDAQ:SLNH), a cryptocurrency mining business powered by renewable energy, andthe parent company of MTI Instruments, Inc. ("MTI Instruments"), a test and measurement instruments and systems business, announced today its third quarter 2021 financial results and October site level financials.
Michael Toporek, CEO of Soluna, stated, "We continue to rapidly scale our facilities as we energize our data centers to hit our 50MW target by year end and drive to over 1 Exahash in the next several months. We are proud of our team’s solid execution and with the Soluna acquisition complete, we expect our momentum to increase. Watch us scale.”

Soluna's Chief Financial Officer, Jessica Thomas, commented, "The strong third quarter results clearly reflect the continued positive trends we are seeing in the overall growth of the business. Our revenue and cash contribution continues to grow nicely each quarter. Revenuegrew by 53.6% sequentially from the second quarter, and annualized cash contribution from our computing segment was about $17.3 million. With our strengthened balance sheet we are strongly positioned for continued growth."

Third Quarter 2021 Financial Highlights:

For the third quarter ended September 30, 2021, revenues were $5.1 million, a 54% increase of $1.8M compared to $3.3 million in the prior year quarter. The increase in revenue was driven by the continued ramp of cryptocurrency line of business. Cryptocurrency revenue was $3.1 million, for the three months ended September 30, 2021, an increase of $1.4 million from the prior year quarter, and an82% increase compared to the second quarter of 2021 of $1.7.

As of September 30, 2021, the Company reported cash of $15.8 million compared to $12 million at June 30, 2021. During the quarter, the Company raised approximately$18 million in gross proceeds from its preferred offering and an additional $2.16 million from the partial exercise of the underwriters’ over-allotment option. In October, the Company raised an additional $16.3 million in a convertible note financing further strengthening the company’s balance sheet.

EcoChain, Inc. (Re-named Soluna Computing Inc.) revenue was $3.1 million for the third quarter ended September 30, 2021, which was a $1.4 million increasecompared to the prior consecutive quarter. Cost of revenue for the 2021 third quarter was $1.7 million or 55% of revenue. Capacity continued to ramp in the third quarter compared to the 2021 second quarter. The improvement is due to the continued ramp and additional hashrate on-line as facilities continue to increase the utilization. EcoChain (Soluna Computing) is positioned for additional growth in 2021 towards its stated goals of 50MW under management by the end of 2021.

EcoChain (Soluna Computing) KeySummaryHighlights for October 2021:1

($ in 000s; Unaudited) Q1 2021 Q2 2021 Q3 2021 Oct 2021
Revenue $995 $1,657 $2,368 $2,142
Contribution Margin $744 $1,261 $1,703 $1,444

Annualized Revenue $3,980 $6,628 $9,472 $25,704
Annualized Contribution Margin $2,976 $5,044 $6,812 $17,328
all numbers above exclude legacy hosting
MTI Instruments revenue was $1.9 million for the third quarter ended September 30, 2021, which was an $300 thousand increasecompared to the prior quarter Q2 results. MTI Instruments product cost of sales, for the third quarter of 2021 was $661 thousand providing $1.3 million of contribution.

A presentation and corresponding video is available on the Company’s website at https://www.mechtech.com/mti-announces-quarter-three-2021-results

[conix]

Crypto miner stocks yesterday

[gilead23]

Based on stated intent we should see an update this week with October numbers. They have said to expect those on or around the 10th of the month which would be Wednesday.

[Amigo Mike]

Very nice action in SLNH today ..... blowing past $14.00. Still far undervalued in my book .... and certainly the company is building to a much large valuation in 2022.

There is a recent interview with CEO Toporek who indicates he expects SLNH EBITDA run rate of $140 million by end of 3rd qtr 2022.

The higher bitcoin goes the more likely SLNH will be running at its full capacity to include paying more of power to mine at full capacity. The numbers get very large very quickly with bitcoin continuing higher.

Wondering if we will see an update this week.

Amigo Mike

[Amigo Mike]

Well,

We have our announcement on the completion and approval of the Soluna deal .... and today we have the name and ticker change. These guys get it done !!

Looking forward to the next year ramping up to 4EH and using green unused energy at lower cost. A win for Soluna and the green energy producers.

Given the stock issuance for the acquisition of Soluna does not occur unless and until each of the projects in the pipeline are actually coming online is a sweet structure .... and of course I'd expect those shares are certainly not going to hit the open market any year soon ... so the available shares will remain tight.

Just a matter of execution and time on this one.

Amigo Mike

[Amigo Mike]

Mechanical Technology Announces Name and Ticker Change to Soluna Holdings (SLNH)
November 04 2021 - 07:00AM
GlobeNewswire Inc.

via NewMediaWire -- Mechanical Technology, Incorporated (“MTI” or the “Company”), (NASDAQ: MKTY), the parent company of EcoChain, Inc. ("EcoChain"), a cryptocurrency mining business powered by renewable energy, and MTI Instruments, Inc. ("MTI Instruments"), a test and measurement instruments and systems business, today announced that it has completed its official name change to Soluna Holdings, Inc. and new ticker symbol for its common stock to SLNH and SLNHP for its preferred stock. The ticker change is scheduled to become effective on November 4th.

Michael Toporek, CEO of MTI, stated, “The closing of the Soluna transaction marks an acceleration in our growth as we acquired over 300MW of development pipeline and seek to move our capacity from our 1 Exhash target to over 4 Exahash by year end 2022. We also become a premier provider of solutions to the renewable energy sector as we help them monetize every megawatt they generate. Changing our name to more accurately reflect our business was a natural step in our evolution.”

[Amigo Mike]

Mechanical Technology Announces Completion of Soluna Computing Acquisition and Special Shareholder Meeting Results
EcoChain, EcoChain News, Media, News and Events, Press Releases
Adds 300 MW Pipeline Under LOI; Monetizing Wasted Renewable Energy Production from Wind & Solar Farm Owners

ALBANY, N.Y., November 2, 2021 – Mechanical Technology, Incorporated (“MTI” or the “Company”), (NASDAQ: MKTY), the parent company of EcoChain, Inc. (“EcoChain”), a cryptocurrency mining business powered by renewable energy, and MTI Instruments, Inc. (“MTI Instruments”), a test and measurement instruments and systems business, today announced that it has completed the acquisition of Soluna Computing, Inc. (“SCI”), which now becomes a wholly-owned subsidiary of EcoChain. The combination allows SCI to more easily access capital and resources necessary to scale its renewable energy-powered data center solution more quickly and efficiently. MTI will shortly change its name to “Soluna Holdings, Inc.”

With the closing of the transaction, MTI gains access to all of SCI’s assets, including its 300MW (megawatt) pipeline that is currently under letters of intent (“LOI”), bringing EcoChain’s combined total to 350MW, with over 200MW more under active development. Additionally, EcoChain has now directly employed or retained SCI’s top-tier technical and management team, bringing expertise in project development, energy markets, project finance and computing technology. Additionally, the Board of Directors of MTI elected John Belizaire, who served as Chief Executive Officer and a director of SCI until its acquisition by EcoChain, and who now serves as President and Chief Executive Officer of EcoChain, and John Bottomley, a director of SCI until the acquisition, to the MTI Board.

Michael Toporek, CEO of MTI, stated, “We are extremely excited to announce the closing of the SCI acquisition as we enter our next growth phase. This is clearly a monumental event for the Company and brings MTI into the ranks with its larger peer group based on its development pipeline. As we continue to execute and build out 100MW to 150MW of our pipeline and managing 4 Exhash in total next year, we look forward to commanding a proper valuation.”

Financial Highlights

MTI continues to develop its business in a capital-efficient fashion with the acquisition of SCI. MTI is issuing consideration to SCI as value is received to prevent any earnings dilution. Certain terms of the transaction are summarized below:

92% of total consideration is contingent upon projects coming online
Up to 2,970,000 shares of MTI common stock to be issued based on building out an additional 150MW:
Contingent shares are not issued, escrowed or outstanding at closing
For earnings per share calculations, the number of shares outstanding only changes when revenues are about to increase from a project coming online
In addition, as the result of the approval by MTI’s stockholders of the issuance of such shares at its special meeting of stockholders, discussed below, pursuant to the Termination Agreement dated as of August 11, 2021, by and among MTI, EcoChain, and Harmattan Energy, Ltd. (“HEL”), on November 5, 2021, MTI will issue to HEL 150,000 shares of its common stock and EcoChain will pay HEL $725,000 and reimburse HEL $75,000 for transaction-related fees and expenses, and the existing Operating and Management Agreements between HEL and EcoChain will be terminated.

On October 29, 2021, MTI held a special meeting of its stockholders. There were 9,235,589 shares of MTI common stock represented in person or by proxy at the special meeting, constituting approximately 72.72% of the outstanding shares of MTI common stock on August 30, 2021, the record date for the special meeting, establishing a quorum.

[Amigo Mike]

CEO MKTY and CEO of Soluna discussion

These guys believe this is an opportunity to build a multibillion dollar global company.

Amigo Mike

[Amigo Mike]

I would certainly think that news would come out this week. Certainly approved by shareholders last week. Look forward to any new tidbits from the CEO and of course agree that October numbers ought to be pretty positive.

Amigo Mike

[gilead23]

Assuming we should see a formal announcement about Soluna sometime this week too. It’s important for that to be official. Really looking forward to some updates over the next few weeks. The October hash rate numbers should be very impressive.

[Amigo Mike]

Interesting perspective on MKTY. I happen to agree. This one is destined to go much higher. I'm hard pressed to shoot holes in the business case for MKTY and no certain why anyone would want to be selling shares at these prices.

http://www.livingoffthemarket.com/lotm-mechanical-tech-soluna-holdings-comment-update/

Amigo Mike

[Amigo Mike]

MTI Inc. and Soluna Computing Energize 25 MW Modular Data Center Project in Kentucky
7:23 am ET October 21, 2021 (Globe Newswire)
EQNX::TICKER_START (NASDAQ:MKTY),(NASDAQ:MKTYP), EQNX::TICKER_END

Project includes the first 22 modular data centers built and used at scale

via NewMediaWire -- Mechanical Technology, Incorporated ("MTI" or the "Company"), (NASDAQ: MKTY), the parent company of EcoChain, Inc. ("EcoChain"), a cryptocurrency mining business powered by renewable energy, and Soluna Computing today announced that their first greenfield modular data center (MDC) project has been energized. The project, which includes 22 buildings, began energizing on September 30, 2021, and will reach full capacity of 25 megawatts (MW) in November 2021, a month ahead of schedule.

The project uses Soluna's proprietary design for MDCs to mine cryptocurrency.Alternately known as "Anaconda" in MTI investor briefings, ProjectSophiewas named after Sophie Wilson, a computer scientist who invented a custom chip processing technology known as ARM. Added to their existing 3 MW pilot project that came online last year, and the 25 MW Project Marie, Project Sophie will bring the companies' combined portfolio of operating assets to over 50 MW.

"Project Sophie demonstrates the team's ability to get facilities built on budget ahead of schedule," said MTI CEO Michael Toporek. "In today's supply chain challenged world, it's a tremendous accomplishment. Our team's demonstrated engineering excellence will next be engaged in building out 100MW to 200MW of facilities in 2022."

Soluna's MDCs are designed to use clean energy resources to efficiently run high-intensity computing processes, such as cryptocurrency mining. The MDCs run an industry-leading power usage effectiveness (PUE) of under 1.02, and the flexible design allows for different types of computing to be conducted in the future, such as application-specific integrated circuits (ASIC), field programmable gate arrays (FPGA) and graphics processing units (GPU). The MDCs' relatively small footprint and highly efficient advanced thermodynamic systems allow them to be placed either on-site or close by the generation source, such as wind farms, solar farms, or even hydroelectric dams. The computing processes can be timed to take advantage of the best available electricity prices, contribute a complementary revenue stream for the generation asset owner, and balance the local grid.

"Cryptocurrency has a dirty energy problem, and clean energy has a curtailment problem. Deploying efficient, scalable modular data centers on-site can help renewable energy asset owners recover lost revenue by eliminating curtailed energy," said Soluna Computing CEO John Belizaire. "Project Sophie uses primarily hydroelectric power, and future MDC projects will be vertically integrated on-site at wind and solar power plants."

MTI and Soluna's second greenfield MDC project, Project Dorothy, will come online with 50 MW by the end of Q1 2022.

View MTI's September 2021 Flash UpdateHere

View Project Sophie Web Page and Live Stream Here

About MTI

MTI is the parent company of MTI Instruments, Inc. and EcoChain, Inc. Through EcoChain, MTI develops cryptocurrency mining facilities powered by renewable energy that integrate with the blockchain network. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real-world applications in numerous industries. Those include manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. For more information about MTI, please visit https://www.mechtech.com.

About Soluna Computing

Soluna's scalable, on-demand data centers buy every excess megawatt from renewable energy projects, increasing project revenue while eliminating wasted energy. Implementing Soluna data centers is a low-risk, low-friction process due to the company's four pillars of expertise: Project development, energy markets, project finance and computing technology. Soluna has molded this unique expertise into a proven project finance structure and revenue-generating solution. For more information, please visit www.SolunaComputing.com.

Contact Information:

Lisa Brennan
[e-mail]

Investor Relations:
Kirin Smith, President
PCG Advisory, Inc.
[e-mail]

[gilead23]

Looking good today. We should get an update on August numbers soon. I’m hoping it comes with a guidance raise. They really seem to be executing on a plan that seemed too ambitious when I first started looking into the company.

[conix]

Mechanical Technology: A Hidden Gem in a Crypto Mine

The company is a quality crypto miner that has explosive growth opportunities, strong intrinsic advantages and high upside

Summary

The company has strong environmental and power cost advantages over competitors.

The CEO is aligned with shareholders, encourages transparency and communication and sets attainable goals while maintaining a long-term vision for the company.

If Soluna only produced 50 MW on a yearly basis, given the earnings growth that would occur, the company is selling for a significant discount.

Mechanical Technology Inc. (MKTY, Financial), which is soon to be renamed Soluna Holdings, operates two businesses: MTI Instruments and Soluna Computing. Both businesses are profitable and growing at a fast rate while producing high returns on invested capital. The company was unknown for some time until fund manager Michael Toporek (founder of Brookstone Partners) took over as CEO, increased profitability, kick-started growth and brought it out of the darkness in 2018.

The company is now listed on the Nasdaq with 12.7 million shares outstanding and a market cap of $103 million. Toporek currently owns 38.2% of Mechanical Technology and has only increased his position in the company since taking control.

MTI Instruments

MTI is engaged in the design, manufacturing and selling of vibration measurement and system balancing solutions, precision linear displacement sensors, instruments and system solutions and wafer inspection tools. These products are critical to the manufacturing and inspection of airplanes, electric vehicle batteries, semiconductor wafers and a plethora of other products.


Most of MTI’s revenue (42.9% as of 2020) is generated from the U.S. Air Force. This high customer concentration is slightly concerning, but the Air Force has proven to be willing to continue buying its products. These products mainly consist of portable balancing systems and precision instrument products, which are critical to the inspection of aircraft and related equipment, so it would be difficult for customers to switch suppliers. Therefore, I believe MTI will be able to maintain the Air Force as a customer in the coming years.

Since 2020, management has indicated that MTI has seen significant increased interest for its PBS, diagnostic equipment and semiconductor products. The new interest has been from EV manufacturers and semiconductor companies. The management team has noted they are actively in communication with such companies and expect the development of these new market opportunities to accelerate growth.

MTI Instruments' growth and profitability have been impressive over the past several years.


Revenue grew a healthy 36%, while net income increased 397%. This is fast growth, which I see continuing in the future. Of course, I don’t expect net income to continue climbing at such an eye-popping pace in the coming years.

Based on what management has been communicating to shareholders, revenue and profitability growth will continue into the long term. I estimate MTI will grow at a compound annual rate of 15% over the next five years.

MTI seems to be an efficient company with a large addressable market that operates profitably and will be able to grow both profits and revenue over the coming years. Though management has stated MTI will not be a major contributor to earnings in the future, it remains a quality subsidiary. There is also a possibility that management chooses to spin-off MTI into its own stock or sell the business outright to fund the crypto mining operations and its future growth. I do not see this happening soon, but maybe in the future.

Soluna Computing

Soluna Computing is Mechanical Technology's crypto mining operation.

On Aug. 12, the company announced that its subsidiary, EcoChain, was acquiring Soluna Computing. Management also announced the company will be renamed “Soluna Holdings,” along with EcoChain being renamed “Soluna Computing”.


Following the acquisition announcement, management gave a presentation laying out the new crypto mining operation and its target goals for the coming years.


EcoChain is on target to produce at least 50 megawatts by year-end 2021. Soluna Computing has a massive pipeline of over 300 MW that will be integrated into the mining operation over the next several years. As the MW are integrated, revenue and earnings will skyrocket.



This acquisition will place Soluna in the top three of mining companies in terms of MW produced, making it a major player in the crypto mining industry.

The CEO has communicated that the long-term goal is to provide low-cost alternative energy data centers for all things related to blockchain and crypto mining.

Key advantages

Soluna Computing operates as one of the few 100% environmentally-friendly crypto miners. As stated in the company’s presentation, it will generate most of its MW power through wind, along with utilizing natural gas when necessary.


This is an advantage over competitors as companies and governments have expressed concern over the negative effects crypto miners are having on the environment. If Soluna can continue to maintain its eco-friendly image, it will likely become the preferred supplier for many customers.

Although Soluna chose to enter the crypto mining space, it has significant data center infrastructure and advantageous power costs that give it the ability to pivot to many industries that require computing. I believe this is management’s long-term intention.

[gilead23]

I've been picking up shares. They seem to be on the cusp of hitting on all of their promises with a huge ramp up for python in September. If they can keep expenses relatively in check they will be wildly profitable.

[zenvesting]

The Chinese Bitcoin mining ban will benefit MKTY's EcoChain more than most of the other bitcoin miners.

1.) The situation has brought attention to the carbon footprint of Bitcoin mining operations. EcoChain only powers their operations with stranded renewable energy, which has zero carbon footprint, along with some of the lowest electrical rates of any bitcoin miners.

2.) The closed Chinese operations are already liquidating their "miners". The supply of second hand, second generation miners comes at an ideal time, as EcoChain is building out their operations with lower cost second generation equipment. The sheer number of miners being put out of business should create some real bargains in the second hand miner market over the next few months.
https://fortune.com/2021/05/24/bitcoin-china-crypto-miners-crackdown/

Network difficulty has dropped, benefiting all the current miners on the network, RIOT & MARA apparently ran on that sentiment yesterday, MKTY will benefit more in the long run IMO.

[couldbebetter]

MKTY will be a great stock to have held onto over the next couple of years
as the management team here is not out to make a quick buck, but to build
a great and sustainable enterprise in rational, well thought out manner.
Regardless of what price was paid for MKTY stock prior to today my take
is that anything bought under $20 will bring a minimum of a 4 fold
increase in value within the next 2 years. For those fortunate to
have bought under $10 that should be an 8 fold return.

Right now MKTY is relatively unknown and very small. As institutional
investors learn more about this company and follow its performance over
the months ahead they will move into this ticker. The best advice I can
give here is to take a long term view and to methodically buy the declines
and not sell too soon. There will come a day in the future when upside
moves here will seem amazing when compared to today's stock price. MKTY
is just in the 1st inning of a game that will stretch into overtime.

[Boneus]

They didn't announce a price. At least as far as I saw. My guess is the firm working the deal is dumping shares so as to complete the capital raise, while trying not to crush the stock price.

[tmonkey]

at what price???-tmonkey

[Boneus]

Well, they are trying to do a $12mm equity raise.

[tmonkey]

down 12% on 50k shares -if someone lets go of 100k we will be back at 5$-all sales here!---wonder who knows what we dont here??? tmonkey

[tmonkey]

again 20-20 hindsite---should have let em all go-17.50--look now in record time----im on freebies now but still not nice to see the daily carnage----tmonkey

[tmonkey]

i lucked out again here-i was sure it would keep going as soon as i sld!! the gains here are good for alot og holders i guess-----tmonkey

[tmonkey]

couldnt stop myself--sld half of my position for this windfall---still got skin in the game for 20s and there after if we make it---just couldnt resist the gain here----tmonkey

[tmonkey]

usually i would have sld on a pop like that but didnt sell any---over 20$ i will take some of the table again----that could be today??----tmonkey

[Renee]

MKTY moved to the Nasdaq from the OTC:

https://otce.finra.org/otce/dailyList?viewType=Deletions

[couldbebetter]

With NASDAQ listing beginning Tuesday, today's action was a frontrunning
of the stock before certain institutions are allowed to own the stock.
This could be good for several days of gains but this provides the right
price for the stock offering to commence. Once that is completed we will
see where the stock price lands. My target is to see the stock price hit
$45 before year end. That would allow for dilution of 100% (may be far
lower than that) and have the market cap hit $900 million. If this does
not happen this year I believe it will get there next year. Management
has an excellent shot at building a very profitable efficiently run
company that may end up trading at a PE ratio far higher than what it
should be. What may be most telling is a comment on CNBC by Kevin O'Leary,
Mr. Wonderful, of Shark Tank fame. Basically, he said he is eager to
invest in "Totally Green" block-chain or bit-coin miners with very low
cost for electricity. I have no idea if someday his managed money will
invest in MKTY or not... but I do believe that MKTY could become a leader
in their industry. The next two years will be interesting, that's for
sure!

[tmonkey]

i usually dont trade like this but these swings have been great---i dont believe they have a great mining capibility yet but it trades like they do so i use that-if btc down we will get another buy chance---ill look at 5-6$but an not sure we will see that---i hold a solid core position until we see 20---mayBE a wait---tmonkey

[gwat1979]

wow, you've been pretty spot on lately with calling the tops and bottoms with this play - congrats $$

I've been in this one as well and lightened my position a little bit today. where do you see it going from here? also, I noticed a filing about a proposed RS for this stock, what's your take on that? tia and continued good luck to you~

[tmonkey]

sellin some back again -this has been a gold -mine not to mention they still are mining coins??--bird in the hand!!---tmonkey

[tmonkey]

locked and loaded again-thought id get em lower but dont think that will happen with btc rearing its ugly face again---have more than i had first time around now-and will wait for the prize for most of them--tmonkey

[tmonkey]

been adding today also and will stop when i got my sld shares back and a few more------dont see us going much lower----wished i had taken more last friday--tmonkey

[tmonkey]

started nibbling today---next week i will be looking hard--know when to hold em and fold em-has worked well with this one-20 20 hindsight-i could have done better here!!--tmonkey

[tmonkey]

btc not doing so bad but this getting killed---next week if it continues ill add back what i sold and a bit more?---tmonkey

[tmonkey]

if this follows btc at all ill buy back in 5s this week and have a larger position---im not a trader and didnt see this pps getting kicked so hard---i saw a good profit and took it---for once i got it right here!!--tmonkey

[tmonkey]

20-20 hindsite-i got while the gettin was good--not usual in my case---a bit lower here with btc and ill buy em back plus some---wont see 3s-4s again imo-----tmonkey-

[tmonkey]

didnt wait for 15---sld some now but still have a small bit left for moon shot---i think we have a deal over 11 here ---and everything i have been selling were bt under 4----just see better % chances other places now after this rise in pps---but im good about being wrong!!!!---tmonkey