Soluna Holdings: Unknown, Massively Undervalued, And Revolutionizing Renewable Energy With Green Computing

Dec. 23, 2021 1:18 PM ETSoluna Holdings, Inc. (SLNH)2.15K Comments
Justin Dopierala profile picture
Justin Dopierala


  • Soluna Holdings currently has an annualized cash contribution margin of over $23 million with an enterprise value of only about $150M.
  • Scaling rapidly and on track to reach 1 exahash per second of computing power by March of 2022 with 50MWs energized.
  • At 1 EH/s, the annualized cash contribution margin should exceed $40M based on current network difficulty and bitcoin pricing.
  • The upside in SLNH shares is exponential and the downside is extremely limited, even in a crypto winter, due to their revolutionary business model.
  • If SLNH successfully energizes 233MW, as planned, by the end of 2022, the enterprise value of the company should exceed $2B (over 10x from current levels).

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Soluna Holdings (NASDAQ:SLNH) was previously known as Mechanical Technology (MKTY) and last covered by Kingdom Capital in this fantastic article. Historically, Mechanical Technology was an instruments business in the test and

This article was written by

Justin Dopierala profile picture
Justin Dopierala is President and Founder of DOMO Capital. He received his Bachelor of Science from Concordia University, Wisconsin (2005), graduating summa cum laude and recognized as the most outstanding undergraduate student of his class. He completed his MBA at Concordia the following year. Justin has been the portfolio manager for DOMO Capital Management since the portfolio's inception (2008). His years at DOMO has been enhanced by corporate experience with Harley-Davidson, Case New Holland, and FedEx Services. His work as an auditor in the areas of Information Technology, Plant Operations, and Finance honed his analytical skills and enable DOMO's sophisticated financial models. Investing began at an early age for Justin, when he convinced his parents to place a trade for him at age 15 using money he'd saved from mowing lawns. This interest found a focus and structure when a college professor encouraged him to read The Intelligent Investor, the principles of which remain a critical component of the DOMO philosophy to this day. Justin describes his interest in investing as a combination of a passion for competition, desire to do well for himself and clients, and the intellectual rigor of the discipline. A college football Hall of Fame inductee, Justin attributes his athletic and scholastic success as early validation of the same elements that drive the DOMO discipline: Hard work digging deep into the details, combined with an uncanny ability to stay on course by remembering the big picture. These disciplines enable him to meet the greatest challenge he believes a portfolio manager faces; filtering out short term noise in order to remain convicted in longer term investable ideas.

Disclosure: I/we have a beneficial long position in the shares of SLNH either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: SLNH is currently one of the largest positions in the DOMO Concentrated All Cap Value Composite. More information on the composite can be found at our website. DOMO Capital Management, LLC ("DOMO") is a state registered investment adviser in CA, LA, MI, TX, and WI. Justin R. Dopierala is the President and Founder, and a registered investment adviser representative, of DOMO. Additional information about DOMO is disclosed in our Form ADV, which is available upon request. All information contained herein is for general informational purposes only and does not constitute a solicitation or an offer to provide investment advisory services in any jurisdiction. The investment strategy discussed herein may not be suitable for everyone. Investors need to review an investment strategy for their own particular situation before making any investment decision. We believe the information obtained from any third-party resources to be reliable, but we do not guarantee its accuracy, timeliness or completeness. The opinions, estimates, projections, comments on financial market trends and other information contained herein constitute our judgment and are as of the date of the material, are subject to change without notice at any time in reaction to shifting market conditions and other factors and should not be construed as personalized investment advice. DOMO has no obligation to provide any updates or changes to such information.

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