SummarySLNHP's high yield (4.6% monthly or 71.5% annual) can effectively compensate for SLNP's lack of fundamental upside and shrinking risk when Bitcoin recovers.SLNHP's current yield can outperform most yields from altcoins (riskier than Bitcoin) staking at major crypto exchanges and DeFi yield-farming protocol while providing Bitcoin-level safety.SLNPH's 3-year total expected yield (525%) rivals Bitcoin's capital gain (575%) from reaching $115,000 per BTC in 3 years even without additional SLNPH capital gains.Despite SLNH being unprofitable, SLNH is still operating cash flow positive and any missed dividend payouts will be accrued and paid back in full in future.SLNHP is less risky than SLNH yet could match SLNH in upside potential due to priority over assets in case of bankrupt (1.5 adjusted Price-to-Book ratio) and potential common-convertibility.IntroductionBased on our coverages of Soluna Holdings (SLNH) so far, we categorized SLNH under companies with compelling stories but are not compelling investments. SLNH sells investors a means to earn a return by solving curtailed renewable energy. SLNH solves curtailed energy by building facilities around sites with curtailed energy. This is beneficial to both SLNH and the energy provider. SLNH would get energy supply at lower prices while the energy provider can ensure demand at full capacity.In an early study, our findings suggest that the primary threat to SLNH's business mo...
