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Soluna Holdings, Inc.
(NASDAQ:SLNH)
Soluna Holdings, Inc. (SLNH) vs. S&P 500 (SPY)
Soluna Holdings, Inc. Business Overview & Revenue Model
Soluna Holdings, Inc. Financial Statement Overview
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 39.87M | 21.07M | 28.55M | 14.35M | 9.60M | 6.57M | Gross Profit |
| 10.55M | 14.70M | -7.96M | 6.28M | 6.53M | 4.37M | EBIT |
| -14.55M | -20.24M | -84.79M | -4.48M | 1.45M | 259.00K | EBITDA |
| -6.27M | -12.41M | -71.77M | -762.00K | -1.46M | 346.00K | Net Income Common Stockholders |
| -30.02M | -29.20M | -107.02M | -6.39M | 1.95M | 323.00K |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 991.00K | 6.37M | 1.14M | 10.26M | 2.63M | 2.51M | Total Assets |
| 3.71M | 91.28M | 84.96M | 117.69M | 8.65M | 5.75M | Total Debt |
| 0.00 | 19.77M | 22.88M | 8.54M | 1.21M | 947.00K | Net Debt |
| -991.00K | 13.41M | 21.74M | -1.72M | -1.42M | -1.56M | Total Liabilities |
| 2.05M | 37.92M | 38.69M | 26.71M | 2.73M | 1.92M | Stockholders Equity |
| -1.46M | 26.51M | 41.87M | 90.99M | 5.92M | 3.83M |
| Cash Flow | Free Cash Flow | ||||
| -10.28M | -15.69M | -69.51M | -51.72M | 787.00K | 206.00K | Operating Cash Flow |
| -2.00M | -2.99M | -5.75M | 5.55M | 1.62M | 289.00K | Investing Cash Flow |
| -7.25M | -10.33M | -45.63M | -57.30M | -1.58M | -83.00K | Financing Cash Flow |
| 11.39M | 21.86M | 38.16M | 59.38M | 83.00K | -3.47M |
Soluna Holdings, Inc. Technical Analysis
Soluna Holdings, Inc. Risk Analysis
Soluna Holdings, Inc. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $2.50B | 20.73 | 4.35% | ― | 34.20% | ― | |
57 Neutral | $18.54B | 9.84 | -14.38% | 2.71% | 5.07% | -23.65% | |
55 Neutral | $3.91B | 8.24 | 18.84% | ― | 69.38% | 30.30% | |
45 Neutral | $313.02M | ― | -2.15% | ― | 27.99% | 90.99% | |
44 Neutral | $5.17M | ― | -902.52% | ― | 80.49% | 52.45% | |
37 Underperform | $25.41M | ― | 242.25% | ― | ― | ― | |
36 Underperform | $592.40M | ― | -11.98% | ― | 33.77% | 61.73% |
Soluna Holdings, Inc. Corporate Events
Soluna Holdings, Inc.’s subsidiary, Soluna Cloud, entered into an agreement with Hewlett Packard Enterprise to provide data center and cloud services using NVIDIA H100 GPUs. However, due to market shifts and supply changes, Soluna Cloud’s business progressed slower than expected, leading to the termination of the agreement by both parties in March 2025. Soluna Cloud decided to refocus on its core strength in developing bitcoin and AI hosting facilities, which is anticipated to create more value for the company and its shareholders.
On March 27, 2025, Soluna Holdings, Inc. announced a successful strategic partnership with Luxor Technology Corporation and BitMine Immersion Technologies, highlighted in a new case study. The collaboration delivered a turnkey mining solution that enabled BitMine to scale its operations efficiently by integrating renewable power, infrastructure, and financial services, setting a new standard in the Bitcoin mining industry.
On March 20, 2025, Soluna Holdings, Inc. held an ‘Ask Me Anything’ session where management addressed questions about its operations and future plans. The company is actively pursuing funding opportunities and partnerships, including those related to AI data centers and Bitcoin hosting projects. Soluna’s Project Kati is set to be an 83 MW Bitcoin Hosting project, and the company is collaborating with Atlas Cloud on a DeepSeek R1 inferencing platform. Despite recent stock declines, Soluna is focused on growth and aims to provide more detailed revenue guidance in its upcoming shareholder communications.
On March 18, 2025, Soluna Holdings, Inc. announced the successful closure of a $5 million non-dilutive debt financing agreement with Galaxy Digital. This five-year loan facility, secured with limited recourse to the parent company, reflects investor confidence in Soluna’s business model and its ability to monetize energy through AI and Bitcoin mining. The financing will support Soluna’s ongoing project development and expansion efforts, marking a significant milestone in its mission to deliver sustainable computing solutions.
On March 11, 2025, Soluna Holdings, Inc. announced several updates regarding its February 2025 operations and developments. Key highlights include the successful exit of Project Kati from the ERCOT planning phase, securing up to 187 MW of sustainable energy for Project Rosa, and expanding a partnership with Bit Digital. Additionally, the company reported progress on multiple projects, including Project Dorothy and Project Ada, and highlighted customer success with new deployments.
On March 5, 2025, Soluna Holdings, Inc. announced that its subsidiary, Soluna Cloud, has partnered with Atlas Cloud to launch the DeepSeek R1 AI inferencing platform in North America. This initiative, which went live on February 28, 2025, aims to provide enterprises and developers with a faster, cost-effective AI solution, addressing data sovereignty and performance optimization concerns by offering an alternative to China-hosted AI models.
On February 25, 2025, Soluna Holdings, Inc. announced the acquisition of land for Project Rosa, a new data center aimed at expanding its capacity with up to 187 MW of renewable energy for AI and Bitcoin mining. This strategic development, co-located with a 240 MW wind farm in Texas, aligns with Soluna’s mission to create sustainable, scalable data centers and marks a significant step in its operational growth.
On February 18, 2025, Soluna Holdings, Inc. announced the successful exit of Project Kati from the ERCOT planning phase, paving the way for construction and expansion. Project Kati is expected to deliver 166 MW of renewable energy capacity, unlocking new hosting and AI joint venture opportunities, with construction anticipated to start in 2025. This development aligns with Soluna’s vision of expanding renewable computing infrastructure to meet the demands of high-performance applications, further solidifying its position in the industry.
Soluna Holdings, Inc. announced the effectiveness of its S-1 Registration Statement tied to a Standby Equity Purchase Agreement, allowing the sale of up to $25 million of common stock shares. In February 2025, the company shared updates on several projects, including Project Dorothy and Project Ada, highlighting progress in infrastructure upgrades and AI cloud services. The company also reported operational enhancements and maintenance activities across its various project sites, indicating a strategic focus on improving network security and infrastructure reliability.
Soluna Holdings, Inc. recently hosted an ‘Ask Me Anything’ session on January 16, 2025, where management addressed various operational topics. Key discussions included the company’s approach to resuming dividend payments based on cash flow evaluations, and their financing strategies for HPC data center projects. Updates were provided on projects like Project Grace and Project Kati, with tentative timelines and cost structures discussed. The session also highlighted the company’s strategy to optimize sustainable power access and data center development, aiming to enhance its value and industry position.
Soluna Holdings, Inc. has announced several corporate and operational developments including a milestone achievement of monetizing over 100 GWh of curtailed energy at Project Dorothy, equivalent to powering approximately 11,500 H100s for a year. The company has signed AI deals, completed convertible notes payoff, launched flexible financing for AI enterprises, and appointed a new advisory board member. Key project updates include the near completion of customer deployments at Project Dorothy, progress in substation interconnection planning for Project Dorothy 2, and ongoing design and negotiation efforts for Project Kati. Additionally, Soluna is expanding its AI and Bitcoin hosting capabilities and has reached agreements for further deployments with key customers.