Soluna Holdings, Inc

Snapshot

Soluna is a small-cap developer of modular data centers for cryptocurrency mining and AI, currently in a heavy investment phase. FY 2025 revenue was $29.7 million, down 21.8% from the prior year, while the company reported a net loss of $53.4 million. The losses are driven by aggressive expansion, including $28.1 million in capital expenditures and $30.5 million in selling, general, and administrative expenses. Despite the headline losses, the business is generating sequential revenue growth, with Q1 2026 revenue up 58% year-over-year.

What's Happening Right Now

• Tue 9th Jun '26 · Compliance: Soluna regained compliance with Nasdaq listing requirements, removing the immediate threat of delisting that had weighed on the stock.
• Tue 9th Jun '26 · Joint Venture: The company signed a definitive joint venture agreement with Metrobloks for Project Kati 2, a 350 MW AI and high-performance computing facility.
• Wed 20th May '26 · Acquisition: Soluna acquired full ownership of Project Dorothy 1B for $8.8 million, completing equity consolidation of the Dorothy 1 campus.
• Mon 18th May '26 · Earnings: Q1 2026 revenue grew 58% year-over-year to $9.4 million, marking the fourth consecutive quarter of sequential growth.
• Thu 2nd Apr '26 · Acquisition: Soluna closed the acquisition of the 150 MW Briscoe Wind Farm for $53 million to vertically integrate power for its data centers.