Soluna Holdings Inc. (SLNH)
NASDAQ (CM) NASDAQ (CM) Primary 
Soluna Holdings: The $1.3B Question Remains Unanswered
Soluna Holdings, Inc. is transitioning from Bitcoin mining to AI data center hosting, but market focus has shifted to its ability to finance growth without excessive dilution. Q2 2026 revenue surged 145% to $15.06M, yet gross profit declined and share count more than doubled due to aggressive equity financing, highlighting dilution risk. Execution hinges on securing a definitive lease and project-level debt (targeting 70-80%) for Kati 2; failure could force further equity issuance and undermine valuation.
Soluna Holdings, Inc. (SLNH) Q2 2026 Earnings Call Transcript
Soluna Holdings, Inc. (SLNH) Q2 2026 Earnings Call Transcript
Soluna Q2 Earnings Call Highlights
Soluna NASDAQ: SLNH reported second-quarter 2026 revenue of $15.1 million, up 145% from a year earlier, as its hosting operations expanded and additional sites ramped. The company said the quarter marked its fifth consecutive period of sequential revenue growth, while it continued to build its renewable-powered data center pipeline for AI and high-performance computing workloads.
Soluna Holdings: The Business Has Changed, The Valuation Hasn't
Soluna is transitioning from Bitcoin mining to a power-backed hosting provider, with 71% of Q1 revenue now from hosting. SLNH's ownership of energized power assets like Dorothy 1A and Briscoe Wind Farm provides a rare, strategic advantage for rapid AI/HPC hosting expansion. The market continues to value Soluna like a miner, overlooking the operating leverage and potential upside if Kati 2 secures a definitive lease.
Soluna: The 4.3 GW Pipeline Is The Real Story
Soluna Holdings is rated Buy with a $3.40 price target, reflecting an 86% upside on a $210M market cap versus a 4.3 GW pipeline. SLNH is transitioning from Bitcoin hosting to a renewable AI infrastructure platform, with significant milestones including the Briscoe acquisition and AI/HPC campus development. Operating capacity doubled, cash rose to $89M, and the pipeline expanded 54% in 2025, positioning SLNH for revenue growth as AI mix increases.
Soluna Holdings: Pricing In An Absolute Zero
Soluna Holdings is deeply undervalued, trading near net cash levels despite significant infrastructure and a 2.8 GW development pipeline. The market misprices SLNH as a speculative Bitcoin miner, ignoring its transition to hosting, AI, and high-performance computing infrastructure. Project-level margins are strong, with Project Sophie at 68.4% and Dorothy 1A at 43.6%, supporting positive adjusted EBITDA despite GAAP noise.
Mechanical Technology (SLNH) Could Find a Support Soon, Here's Why You Should Buy the Stock Now
Mechanical Technology (SLNH) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.
Soluna Holdings: A Flourishing Green Data Center Business
Soluna Holdings, Inc. develops green data centers for AI, HPC, and Bitcoin, leveraging proximity to renewable energy parks. SLNH has operational projects and a robust pipeline, targeting over 1 GW capacity, supporting expectations for substantial future growth. Given the company's proven execution and high-growth prospects, the current market cap suggests significant upside potential, justifying a buy rating.
Soluna Holdings: Bridging Renewable Energy And AI Compute Demand
Soluna Holdings is rated a BUY, leveraging surplus renewable energy for modular data centers and pivoting toward AI and high-performance compute clients. SLNH has maintained gross margins around 25% and secured $35M in new funding for Texas data center expansions. The company is diversifying away from crypto mining, focusing on AI-driven data center hosting, with Project Dorothy 2 and Project Kati as key growth catalysts.
Soluna Holdings, Inc. (SLNH) Reports Q3 Loss, Lags Revenue Estimates
Soluna Holdings, Inc. (SLNH) came out with a quarterly loss of $0.7 per share versus the Zacks Consensus Estimate of a loss of $0.61. This compares to a loss of $1.29 per share a year ago.
