Soluna | Crypto

Hosting revenue outpaced mining as new capacity came online, highlighting Soluna’s shift toward data centers for AI and high-performance computing. Digital infrastructure company Soluna Holdings reported strong first-quarter revenue growth as expanding data center operations helped offset weaker returns from cryptocurrency mining. Revenue rose 58% from a year earlier to $9.4 million and increased 2% from the previous quarter, according to the company’s earnings report released Monday. It was Soluna’s fourth-consecutive quarter of sequential revenue growth. The gains were driven by additional capacity coming online at the company’s Dorothy and Kati sites in Texas. Data center hosting generated $6.7 million in revenue, while cryptocurrency mining contributed roughly $2.2 million, down from nearly $3 million the year before, as Bitcoin mining economics deteriorated.  Read more

Soluna expanded into artificial intelligence in 2024 to shore up declining revenues from its crypto mining business, mirroring an industry-wide shift toward AI workloads. Soluna Holdings, a publicly traded Bitcoin (BTC) mining and AI infrastructure company focused on renewable energy, announced on Thursday that it closed a $53 million deal to acquire a wind farm to power its upcoming Project Dorothy 3 AI data center campus. The Briscoe Wind Farm, located in Briscoe County, Texas, has a potential capacity of up to 300 megawatts (MW), according to the company's announcement. The company forecasts that the facility will generate annualized revenue between $20 million and $24.4 million.  Read more