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Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>This report corrects an error in our report dated June 18, 2025. In the title, the MW increase was incorrectly shown as 5%. The correct figure is 50%.</li><li>Soluna recently announced it has significantly expanded its partnership with Blockware at Project Dorothy 2.</li><li>Following its initial 5-megawatt (MW) deployment in April, Blockware is adding 3 MW of hosting capacity at Soluna’s Project Dorothy 2 data center in Texas, bringing its total contracted footprint at the site to 8 MW, an estimated 450-550 PH/s of hashrate powered by renewable energy.</li></ul>

This report corrects an error in our report dated June 18, 2025. In the title, the MW increase was incorrectly shown as 5%. The correct figure is 50%.Soluna recently announced it has significantly expanded its partnership with Blockware at Project Dorothy 2.Following its initial 5-megawatt (MW) deployment in April, Blockware is adding 3 MW of hosting capacity at Soluna’s Project Dorothy 2 data center in Texas, bringing its total contracted footprint at the site to 8 MW, an estimated 450-550 PH/s of hashrate powered by renewable energy.

Soluna Holdings, Inc: Blockware Increases MW by 50% at Project Dorothy 2 (Correction)