Soluna
Runs modular data centers beside renewable-power plants for Bitcoin mining, AI, and high-performance computing.
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Profile
Operates modular data centers co-located with renewable-power plants for Bitcoin mining, generative AI, and high-performance computing. Its structure combines Soluna Digital, Soluna Cloud's hosting services, and Soluna Energy's power agreements and land leases.
Operates modular data centers co-located with wind, solar, and hydroelectric plants, using surplus renewable energy for Bitcoin mining, generative AI, and high-performance-computing workloads. The operating business runs through Soluna Digital, while Soluna Cloud covers cloud, colocation, and data-hosting services for HPC and AI workloads.
Rather than operate conventional data-center campuses, the model places computing infrastructure next to renewable-power sites. The company manages four operating sites. Its facilities support compute-intensive workloads. Soluna Energy owns and manages renewable-power purchase agreements and land leases, making site and power arrangements fundamental to the business.
Company facts
Key statistics
Year to date −20.6% · Average volume (30d) 10.7M
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | −$0.11 | −$0.18 | −63.6% | $15.7M | $15.1M | −4.1% | +0.77% |
| May 15, 2026Q1 FY26 | — | −$0.24 | — | — | $9.4M | — | −12.16% |
| Mar 30, 2026Q4 FY25 | −$0.20 | −$0.20 | 0.0% | $10.6M | $9.2M | −13.2% | +16.40% |
| Nov 14, 2025Q3 FY25 | −$0.61 | −$0.70 | −14.8% | $9.0M | $8.4M | −6.5% | +7.19% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.9M | $6.2M | $8.4M | $9.2M | $9.4M | $15.1M | |
| Gross profit | $1.2M | $1.2M | $2.3M | $1.8M | −$486.0K | $766.0K | |
| Operating income | −$7.2M | −$6.6M | −$7.8M | −$12.1M | −$16.6M | −$16.9M | |
| Net income | −$7.6M | −$7.4M | −$24.0M | −$14.5M | −$17.5M | −$20.7M | |
| Diluted EPS | −$0.88 | −$0.69 | −$1.14 | −$0.25 | −$0.24 | −$0.18 | |
| Gross margin | 19.8% | 19.3% | 27.7% | 19.2% | -5.2% | 5.1% | |
| Operating margin | -120.9% | -107.6% | -92.5% | -131.4% | -177.0% | -112.5% |
Fiscal years (4-quarter sums)FY21 $11.1M · FY22 $28.5M · FY23 $21.1M · FY24 $38.0M · FY25 $29.7M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $113.4M · Total debt $39.3M · Total assets $293.5M · Shareholders' equity $155.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 157.75M · Float 101.78M · 64.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Bugbee Robert L | 15.41M | 9.80% | 13G | Aug 5, 2026 |
| Michael Toporek · director | 9.91M | 6.28% | Form 4 | Dec 3, 2025 |
| BlackRock, Inc. | 8.32M | 5.30% | 13G | Jul 30, 2026 |
| John Belizaire · director, officer: Chief Executive Officer | 7.06M | 4.48% | Form 4 | Aug 27, 2026 |
| Generate Strategic Credit Master Fund I-B, L.P. | 3.35M | 9.99% | 13G | Sep 18, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 26, 2026 | John Belizaire | director, officer: Chief Executive Officer | +50,000 | $1.20 |
| Aug 27, 2026 | William P. Phelan | director | −8,099 | $12.08 |
| Aug 26, 2026 | William P. Phelan | director | −1,862 | $12.09 |
| Aug 25, 2026 | William P. Phelan | director | −5,000 | $12.00 |
| Aug 24, 2026 | William P. Phelan | director | −5,000 | $11.66 |
Peers
- IREN
Renewable-powered Bitcoin mining and AI-cloud data centers
- Cipher Digital
Texas Bitcoin-mining and HPC data-center developer
- TeraWulf
Low-carbon Bitcoin mining and HPC data-center operator
- Hut 8
Energy, mining, and HPC infrastructure across North America
- Core Scientific
Bitcoin-mining and HPC infrastructure across multiple U.S. sites
- HIVE
Renewable-energy data centers for mining, AI, and HPC
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Soluna | $1.12 | 0.00% | $175.1M | — | — | 4.2 | +144.6% |
| IREN | $35.60 | +0.46% | $12.65B | — | — | 16.7 | −26.8% |
| Cipher Digital | $15.18 | +0.06% | $6.21B | — | — | 32.5 | −43.0% |
| TeraWulf | $15.43 | +0.42% | $7.61B | — | — | 46.0 | −6.0% |
| Hut 8 | $79.75 | +0.41% | $8.94B | — | — | 30.8 | +81.4% |
| Core Scientific | $16.58 | +0.28% | $5.31B | — | 312.6 | 12.0 | +108.8% |
| HIVE | $2.79 | +0.72% | $759.3M | — | — | 2.3 | +73.5% |
| Median | — | 312.6 | 23.8 | +33.7% |