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Soluna Holdings, Inc.

SLNH

Soluna Holdings, Inc. develops and operates modular data centers that convert excess renewable energy into low-cost computing power.

Market cap
$205.07M+952%
Revenue$33.2M+5.6%
Net income-$64.9M-1.2%
Free cash flow-$42.4M-102%
EPS (diluted)-$3.52+77.4%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 13, 2026 (in a month)

Financials

Q1 2026

Income statement

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Revenue$9.4M+58.3%
Gross profit$1.9M+63.3%
Operating income-$16.6M-132%
Net income-$17.5M-131%
EPS (diluted)-$0.24+80.2%

Balance sheet

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Cash & equivalents$68.6M+649%
Total debt$28.0M+167%
Total equity$47.2M+394%
Total assets$190.4M+111%

Cash flow

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Operating cash flow-$6.4M-3,500%
CapEx$2.6M-27.4%
Free cash flow-$8.9M-141%

Valuation & ratios

Valuation

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Market cap$205.07M+952%
Enterprise value$164.49M+1,187%
P/S6.2×+5.7×

Profitability

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Gross margin21.7%+9.2pp
Operating margin-130%-26.7pp
Net margin-195.6%-7.9pp
FCF margin-127.9%+1,415pp

Returns & leverage

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Debt / equity0.6×
Current ratio1.7×+1.4×

Segments

By product

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Data hosting revenue$6.7M+178%
Cryptocurrency mining revenue$2.2M-27.7%
Demand response service revenue$537.0K+5.9%
High-performance computing service revenue-

Competitors

Profile

Soluna Holdings, Inc. develops and operates modular data centers that convert excess renewable energy into low-cost computing power. The company specializes in high-density computing applications, including Bitcoin mining and high-performance computing (HPC) for artificial intelligence. By integrating directly with renewable energy plants, Soluna helps stabilize the electrical grid through demand response services while providing sustainable infrastructure for the digital economy.

Competitive position

Soluna positions itself as a sustainable alternative in the high-density computing space by solving the 'curtailment' problem for renewable energy producers.

GeographiesUnited States
Customer segmentsEnterprise, Energy Utilities, Blockchain Networks
Business modelInfrastructure-as-a-Service (IaaS), Asset-heavy mining, B2B Service Provider
SuppliersRenewable Energy Producers, ASIC Mining Hardware Manufacturers, GPU Manufacturers, Electrical Grid Operators
CustomersBitcoin Mining Pools, AI Development Firms, Enterprise Cloud Users, Regional Utility Grids
Listed2003
Employees40.0
CEOJohn Belizaire
FilingsSEC EDGAR

Questions, answered.

What is Soluna Holdings, Inc.'s market cap?
Soluna Holdings, Inc. (SLNH) has a market capitalization of $205.1M and trades on NASDAQ.
What is Soluna Holdings, Inc.'s revenue and profitability?
Soluna Holdings, Inc. generated $33.2M in trailing twelve-month revenue with a net loss of $64.9M, representing a net margin of -195.6%. Gross margin stands at 21.7%, with free cash flow of -$42.4M. These figures are based on the Q1 2026 filing.
Who are Soluna Holdings, Inc.'s competitors?
Soluna Holdings, Inc.'s key competitors include TeraWulf Inc., Riot Platforms, Inc., Marathon Digital Holdings, Inc., and others. These companies compete in similar markets and product categories.
Who does Soluna Holdings, Inc. partner with?
Soluna Holdings, Inc.'s notable partners include NYDIG, Electric Reliability Council of Texas (ERCOT), NVIDIA.
What subsidiaries does Soluna Holdings, Inc. have?
Soluna Holdings, Inc.'s subsidiaries include Soluna Cloud.
Where is Soluna Holdings, Inc. headquartered?
Soluna Holdings, Inc. is headquartered in United States of America and employs approximately 40 people. It has been publicly traded since 2003.