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
C+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated D+ on Differentiation

Industries

Data & Analytics

Industrial & Manufacturing

Energy

Company Size

51-200

Company Stage

IPO

Headquarters

New York City, New York

Founded

2018

Get referred to Soluna

See people who can refer or advise you

Simplify Jobs

Simplify's Take

What believers are saying

  • Q2 2026 revenue rose 145% year over year, driven by hosting and wind generation.
  • Bitdeer expanded Kati 1 to 35 MW in September 2026, validating customer demand.
  • Briscoe Wind Farm ownership and Dorothy 3 land close project control for future AI builds.

What critics are saying

  • Nasdaq flagged SLNH below $1.00 on April 10, 2026; delisting deadline October 7, 2026.
  • Q2 2026 net loss widened to $22.6 million despite $15.1 million revenue.
  • Existential risk: AI pipeline remains uncontracted while expensive land and power acquisitions consume cash.

What makes Soluna unique

  • Owns wind assets and data centers, tightening power control at Briscoe and Dorothy.
  • Monetizes stranded renewable energy through colocated computing, unlike generic colocation providers.
  • Combines Bitcoin hosting cash flow with AI pipeline optionality across 6.3 GW.

Help us improve and share your feedback! Did you find this helpful?

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

↑ 9%

1 year growth

↑ 9%

2 year growth

↑ 9%
Yahoo Finance
Sep 3rd, 2026
Soluna's Q2 revenue up 73% to $15.1M as AI data centre pipeline reaches 1.6GW

Soluna Holdings reported second-quarter revenue of $15.1 million, up 145% year over year. However, an accounting change added roughly $4.4 million in pass-through electricity costs to both revenue and cost of revenue without affecting profit or loss. Excluding this adjustment, revenue grew 73% year over year and 13% sequentially. The company's growth currently stems from Bitcoin-miner hosting rather than AI operations. Project Dorothy 1A generated $2.9 million in revenue with a 28% gross margin from cryptocurrency customers including Blockware and Canaan. Soluna's AI opportunity remains prospective. As of 1 August, the company reported a 6.3-gigawatt pipeline, including over 1.6 gigawatts designated for AI data centres. Three projects totalling 583 megawatts are advancing under term sheets. Hedge-fund interest increased modestly, with nine funds holding shares in Q2 versus six in Q1.

IDCNOVA
Aug 26th, 2026
Bitdeer to deploy 28 MW of Bitcoin mining rigs at Soluna's wind-powered Texas site.

Bitdeer to deploy 28 MW of Bitcoin mining rigs at Soluna's wind-powered Texas site. 26 Aug 2026 By: IDCNOVA Region: North America Bitdeer (NASDAQ: BTDR) has agreed to install roughly 28 megawatts of Bitcoin mining equipment at a wind-powered Soluna (NASDAQ: SLNH) data center in South Texas, marking another step in the miner's push to expand its co-mining model at third-party facilities. The deployment is expected to add about 1.93 exahashes per second (EH/s) of computing capacity to Bitdeer's fleet, according to a statement released Tuesday. The equipment will be placed at Soluna's Project Kati 1, an 83-megawatt data center in Willacy County that is supplied by the Las Majadas wind project. The facility began operations in February, and Soluna completed its initial 48-megawatt section in April, which was subsequently filled by Galaxy Digital, according to Soluna's first-quarter filing. Deployment of Bitdeer's machines is scheduled to begin in September and will ramp up in batches, the companies said. Under the arrangement, Bitdeer will supply and retain ownership of its Sealminer A2 Pro Air machines, while Soluna will provide the site, electricity, and operational support. The two companies will share the mining proceeds generated by the equipment. The statement did not disclose the length of the agreement, the division of proceeds, anticipated revenue, or either company's investment under the deal. The partnership comes at a time when both companies are navigating a rapidly evolving Bitcoin mining landscape. Soluna said earlier this month that Project Kati 1 generated its first positive gross profit during the second quarter, helping lift companywide revenue to $15.1 million, a 60% increase from the previous quarter. The improvement was aided by the ramp-up at Kati and contributions from another Texas site. Still, Soluna remains in a capital-intensive expansion phase as it develops additional Bitcoin mining and AI infrastructure, reflecting the broader industry trend of diversifying beyond pure cryptocurrency mining into high-performance computing services. For Bitdeer, the planned installation builds on its co-mining business, in which company-owned machines are operated at third-party data centers. As of June, Bitdeer reported 15.9 EH/s of co-mining capacity and 56,000 rigs under such arrangements, alongside 73 EH/s of self-mining capacity. The proposed Kati deployment is equivalent to about 12% of its reported June co-mining hash rate, though that fleet may change before the Texas equipment is fully installed. The move underscores the growing appeal of renewable-powered mining sites in regions like South Texas, where wind energy offers a cost-effective and environmentally friendly power source. For miners like Bitdeer, leveraging existing infrastructure at third-party sites reduces capital outlay and speeds up deployment, while site operators such as Soluna gain a steady revenue stream from underutilized capacity. Industry analysts see this revenue-sharing model as a pragmatic response to tightening margins and increased competition in the sector, as miners seek to optimize operational efficiency and manage power costs amid fluctuating Bitcoin prices.

Yahoo Finance
Aug 25th, 2026
Bitdeer deploys 28 MW, 1.93 EH/s at Soluna's wind-powered Texas Bitcoin mining site

Soluna Holdings has signed a 28-megawatt co-mining agreement with Bitdeer Technologies Group, adding approximately 1.93 EH/s of Bitcoin mining capacity at its wind-powered Project Kati 1 site in South Texas. Bitdeer will deploy SEALMINER A2 Pro Air machines beginning in September 2026, with capacity coming online in batches. Under the agreement, Soluna will provide the site, power and turnkey operations, while Bitdeer will own the mining equipment. Both companies will share proceeds from the deployment. This marks a shift from Soluna's previous model of collecting only hosting revenue, allowing it to participate directly in mining economics. Project Kati 1 is an 83 MW data centre in Willacy County that delivered its first gross profit during the second quarter. Soluna currently operates 192 MW of data centre capacity across Kentucky and Texas.

Data Center Dynamics
Aug 25th, 2026
Soluna acquires 397-acre plot in Briscoe County, Texas, for Project Dorothy 3 data center.

Soluna acquires 397-acre plot in Briscoe County, Texas, for Project Dorothy 3 data center. Expected to have a capacity of 300MW August 25, 2026 AI and cryptocurrency data center developer Soluna has acquired a 397-acre plot in Briscoe County, Texas, where it plans to build its Project Dorothy 3 data center. The campus is expected to have a capacity of up to 300MW and will sit adjacent to two other projects on the site, Dorothy 1 and 2. The data center is expected to be powered via renewable energy, sitting next to the 150MW Briscoe onshore wind farm, which the company purchased in April. According to Soluna, the wind farm's substation sits directly across from the acquired property, positioning Dorothy 3 for direct, behind-the-meter access. "Customers evaluating AI sites want to know how quickly we can get them to power," said John Belizaire, CEO of Soluna. "Owning this land takes one more variable out of that answer. Dorothy 3 is a site we control end to end, and that is what turns a development project into something a customer can plan around." Soluna is a cryptocurrency mining firm that utilizes renewable energy projects as its primary power source. The company has a total operational capacity of 192MW and 11 data center sites in various stages of development. This includes the 187MW Project Rosa site in Texas; the 50MW Dorothy I A and B, as well as 48MW Dorothy II, again in Texas; Project Sophie, a 25MW data center in Kentucky; and the 2MW Grace site in Texas. More in north america.

Soluna Computing
Aug 25th, 2026
Soluna and Bitdeer enter 28 MW agreement at Project Kati 1.

Soluna and Bitdeer enter 28 MW agreement at Project Kati 1. Deployment adds approximately 1.93 EH/s at Soluna's largest operating site. ALBANY, NY, August 25, 2026 - Soluna Holdings, Inc. ("Soluna" or the "Company") (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including AI and Bitcoin mining, today announced that one of its subsidiaries has entered into an agreement with Dory Creek, LLC, a wholly owned subsidiary of Bitdeer Technologies Group ("Bitdeer") (NASDAQ: BTDR), a world-leading technology company for AI and Bitcoin mining infrastructure. Under the agreement, Bitdeer will deploy approximately 28 MW of Bitcoin mining equipment, representing approximately 1.93 EH/s of hash rate, at Soluna's Project Kati 1 in South Texas. Hash rate is measured in exahashes per second (EH/s) and reflects the computing power dedicated to Bitcoin mining. The agreement provides for deployment beginning in September 2026, ramping in batches. Project Kati 1 is an 83 MW wind-powered data center in Willacy County, Texas. The site delivered its first gross profit in the second quarter of 2026. The Bitdeer deployment is located in the site's K1BC phase. The agreement takes the form of a co-mining arrangement, a new structure for Soluna's Bitcoin platform. Soluna provides the site, power, and turnkey operations; Bitdeer provides and owns its Sealminer A2 Pro Air mining equipment, and the parties share in the mining proceeds the deployment generates. "Every megawatt we have energized taught us something about how to run this infrastructure well," said John Belizaire, CEO of Soluna. "Co-mining is a natural extension of that operating history. It puts our track record to work in a structure where we participate more directly in what the infrastructure produces, alongside a partner that builds some of the most capable machines in the industry." Soluna has 192 MW of data center capacity in operation across Project Sophie in Kentucky and Projects Dorothy 1, Dorothy 2, and Kati 1 in Texas, with an additional 14 MW under construction at Kati 1. The Company's development pipeline totals 6.3 GW across projects in planning, development, and assessment with power partners. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include all statements, other than statements of historical fact, regarding our current views and assumptions with respect to future events regarding our business, including the anticipated timing and completion of the deployment described in this release, the expected hash rate and capacity contribution of that deployment, the expected economics of the co-mining structure, and the Company's development pipeline. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident," and similar statements. Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the SEC. All information provided in this press release is as of the date of the press release, and Soluna undertakes no duty to update such information, except as required under applicable law. About Soluna Holdings, Inc. (Nasdaq: SLNH) Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The Company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna's pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna's proprietary software MaestroOS(TM) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com and follow Soluna on: Soluna regularly posts important information on its website and encourages investors and potential investors to consult the Soluna investor relations and investor resources sections of its website regularly. About Bitdeer Technologies Group Bitdeer is a world-leading technology company for AI and Bitcoin mining infrastructure. Bitdeer is committed to providing comprehensive computing solutions for its customers. Bitdeer handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management and daily operations. Bitdeer also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan, amongst other countries. West of Fairfax for Soluna [email protected] Research, blogs, podcasts. All in one place.

Recently Posted Jobs

Sign up to get curated job recommendations

Soluna is Hiring for 8 Jobs on Simplify!

Find jobs on Simplify and start your career today

Don't see your dream role? Check out thousands of other roles on Simplify. Browse all jobs →