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.

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%.

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.