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Soluna Holdings, Inc.: Business Overview, Financials & Competitive Analysis

Soluna Holdings designs, develops, and operates green data centers for Bitcoin mining, AI, and HPC workloads, transforming surplus or curtailed renewable energy into computing resources. The company co-locates modular...

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4/ 10Mixed

Cyborg Score thesis

Early-stage renewable energy data center operator with compelling market positioning but near-term cash constraints and heavy...

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Industry Data Centers & AI Infrastructure
4 named competitors
5 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: October 19, 2026
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Soluna Holdings, Inc. Overview

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Soluna Holdings designs, develops, and operates green data centers for Bitcoin mining, AI, and HPC workloads, transforming surplus or curtailed renewable energy into computing resources. The company co-locates modular data centers directly with renewable power plants, converting underutilized clean energy from wind, solar, or hydroelectric sites into computing capacity.

Strategic Profile

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Soluna reported Q1 2026 revenue of $9.4 million (up 58% year-over-year), driven by Projects Dorothy 2, Dorothy 1A, and Kati 1, though net loss widened to $17.9 million. In May 2026, the company acquired the 150 MW Briscoe Wind Farm for $53 million and acquired full ownership of Project Dorothy 1A, enabling development of the 300+ MW Dorothy 3 AI campus.

Competitive Landscape

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Soluna competes with HIVE Digital Technologies, Bit Digital, Cipher Digital, CleanSpark, and TeraWulf in the cryptocurrency mining and renewable energy data center space. The company differentiates through vertical integration of renewable power generation and modular data center design focused on curtailed energy markets.

Industry Context

Soluna Holdings, Inc. operates in Data Centers & AI Infrastructure.

Key facts

Founded: 1961 · Headquarters: Albany, New York · Employees: N/A · Revenue: $9.4M (Q1 2026) · Market cap: $216M

What the AI analysts debated

AI-generated and not independently verified: selected findings from the multi-agent debate on Soluna Holdings, Inc..

  • Soluna is building renewable-powered data centers that transform surplus wind, solar, or hydroelectric energy into computing resources for Bitcoin mining, AI, and HPC, operating as a Nevada-incorporated company on Nasdaq
  • The company completed the $53M Briscoe Wind Farm acquisition in May 2026 with a development pipeline exceeding 4.3 GW and prior financing of $142 million
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Recent developments

Material events tracked by the AskCyborg corpus.

  • May 2026Closed $53 million acquisition of Briscoe Wind Farm (150 MW) in West Texas
  • May 2026Acquired remaining equity interests in Project Dorothy 1A and 1B for full ownership
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Bitcoin Mining OperationsLarge-scale cryptocurrency mining operator→Bitcoin Mining & HostingCryptocurrency mining and digital asset platform→Renewable Energy Data CentersSustainable Bitcoin mining infrastructure→AI & HPC Compute InfrastructureHigh-performance computing and AI data centers→

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Industry context

Soluna Holdings, Inc. operates in Data Centers & AI Infrastructure. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Soluna Holdings, Inc. do?+
Soluna Holdings designs, develops, and operates green data centers for Bitcoin mining, AI, and HPC workloads, transforming surplus or curtailed renewable energy into computing resources. The company co-locates modular...
What is Soluna Holdings, Inc.'s Cyborg Score?+
Soluna Holdings, Inc. has a Cyborg Score of 4/10 (Mixed). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Soluna Holdings, Inc.'s main competitors?+
Named competitors include Bitcoin Mining Operations, Bitcoin Mining & Hosting, Renewable Energy Data Centers, AI & HPC Compute Infrastructure. The full competitive landscape is in the AskCyborg report.
How can I get the full Soluna Holdings, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Soluna Holdings, Inc. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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