Soluna

Soluna

Powering data centers with excess energy

Overview

Soluna Computing builds small, green data centers that run on excess energy from renewable plants. They purchase surplus energy at competitive prices and use it to power their centers, creating a steady revenue stream for renewable producers. This arrangement helps producers sell all the energy they generate and can help them earn tax credits. The company differentiates by creating a market for excess renewable energy tied to demand-driven data centers, with the goal of providing scalable, fully green computing capacity and maximizing profits for energy producers.

Significant Headcount Growth

About Soluna

Simplify's Rating
Why Soluna is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Industrial & Manufacturing

Energy

Company Size

51-200

Company Stage

IPO

Headquarters

New York City, New York

Founded

2018

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Simplify's Take

What believers are saying

  • First-quarter 2026 revenue rose 58% to $9.4 million, marking four straight sequential gains.
  • May 2026 Kati 2 JV with Metrobloks targets 350+ MW and a 100+ MW first phase.
  • June 2026 Russell 3000 inclusion and Briscoe control improve liquidity, visibility, and vertical integration.

What critics are saying

  • April 2026 financing added $12.5 million debt plus warrants, increasing dilution and leverage.
  • Revenue still depends on Blockware and Bitcoin hosting; hashprice compression already pressured results.
  • Interconnection, permitting, or tenant failure can strand 4.3 GW of pipeline and sink Soluna.

What makes Soluna unique

  • Soluna pairs stranded renewable power with colocated data centers, avoiding transmission bottlenecks.
  • April 2026 Briscoe acquisition gave Soluna 100% ownership of 150 MW wind supply.
  • MaestroOS and ex-Microsoft CDO Ryan Carver strengthen site delivery, power integration, and operations.

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Funding

Total Funding

$278.5M

Above

Industry Average

Funded Over

11 Rounds

Post IPO Equity funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Equity Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Unlimited Paid Time Off

401(k) Retirement Plan

401(k) Company Match

Paid Parental Leave

Professional Development Budget

Stock Price

Growth & Insights and Company News

Headcount

6 month growth

6%

1 year growth

6%

2 year growth

6%
Yahoo Finance
Jul 29th, 2026
Soluna CEO's salary rises to $600K with 100% bonus target after 58% revenue jump

Soluna Holdings approved a $600,000 annual base salary for CEO John Belizaire, with a target bonus of 100% of that amount, according to an SEC filing. The salary increase applies retroactively to 1 January 2026. At the target level, Belizaire could receive a $600,000 annual bonus, bringing his combined base salary and target incentive to $1.2 million before any other compensation. The bonus is discretionary and depends on the Compensation Committee's assessment of his performance. The committee considered earlier input from its compensation consultant regarding market competitiveness and peer-group benchmarks. Soluna reported in May that first-quarter revenue rose 58% year over year, marking its fourth consecutive quarter of sequential revenue growth.

Associated Press
Jul 16th, 2026
Soluna appoints ex-Microsoft hyperscale executive Ryan Carver as CDO to scale AI data centres

Soluna Holdings has appointed Ryan Carver as Chief Development Officer, effective immediately. Carver will oversee the full lifecycle of Soluna's AI and high-performance computing data centre platform, from site origination to operations. Carver joins from Microsoft, where he served as Senior Director for AI Construction & Site Development, leading a construction portfolio worth tens of billions of dollars. He managed the construction programme at Microsoft's Fairwater campus in Mount Pleasant, Wisconsin. At Soluna, Carver will report to CEO John Belizaire and join the Senior Leadership Team. He will integrate development, construction, technology operations, and power into a unified delivery engine as the company scales its renewable-powered AI infrastructure. Soluna develops green data centres co-located with renewable energy plants for intensive computing applications, including AI and Bitcoin mining.

Business Wire
Jun 9th, 2026
Soluna reports 58% revenue growth YoY as it advances 4.3GW AI infrastructure pipeline

Soluna Holdings, a developer of green data centres for Bitcoin mining and AI, announced its May 2026 operational update, reporting strong progress across its project portfolio. The company achieved substantial completion of Kati 1B Phase 1 (12 MW) and completed power commissioning for Phase 2 (9 MW). Operations at Dorothy 1A returned to full capacity following transformer repairs, whilst Dorothy 2 and Sophie maintained strong performance. Soluna signed a definitive joint venture agreement with Metrobloks for Kati 2, a 350+ MW AI development project, and launched an RFP for the first 100+ MW phase. The company also secured 300 acres for Dorothy 3, a 300+ MW AI project. First-quarter revenue grew 58% year-over-year, with Bitcoin hosting revenue up 178%.

Business Wire
May 18th, 2026
Soluna revenue grows 58% YoY to $9.4M as green data center pipeline hits 4.3 GW

Soluna Holdings reported first quarter 2026 results showing revenue growth of 58% year-over-year to $9.4 million, marking its fourth consecutive quarter of sequential revenue increases. The developer of green data centres for Bitcoin mining and AI applications attributed the growth to Dorothy 2 energisation, Dorothy 1A expansion and Kati 1 going live, partially offset by hashprice compression. Net loss increased to $17.9 million from $7.4 million year-over-year, driven by higher equity compensation, interest and financing expenses. Adjusted EBITDA loss declined modestly to $2.1 million from $1.7 million. The company completed Project Kati 1A's 48 MW ahead of schedule and partnered with Metrobloks to unlock 100+ MW of AI capacity at Kati 2. Soluna's development pipeline now exceeds 4.3 GW. Post-quarter end, the company acquired the 150 MW Briscoe Wind Farm for $53 million.

Yahoo Finance
May 4th, 2026
Soluna Holdings trades at 6x P/S after Briscoe Wind Farm expansion and Project Dorothy partnerships

Soluna Holdings has announced new partnerships and capacity additions at its Project Dorothy site in West Texas, following its acquisition of Briscoe Wind Farm to power data centres for Bitcoin and AI workloads. The company's shares have surged 123% over 30 days and 93% over one year, though three-year returns show a 68% loss. Soluna currently trades at a price-to-sales ratio of 6x, above the US software industry average of 3.8x and peer average of 4.6x. With revenue of $29.7 million, investors are paying $6 for every dollar of sales. However, the company posted a $69.1 million net loss and has a history of shareholder dilution. A recent shelf registration could enable further share issuance, raising questions about whether the premium valuation is justified.

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