Soluna Holdings, Inc

Soluna Holdings, Inc. (SLNH) has entered into a Subscription Agreement with affiliates of Applied Digital Corporation to form a jointly owned company. This new entity will develop a 50-megawatt Critical I.T. data center for artificial intelligence and high-performance computing at Soluna's Project Dorothy 3 site in Texas. Soluna Holdings will hold a 49% stake, while Applied Digital will hold 51%. Soluna's contribution is valued at $18.75 million via a ground sublease, and Applied Digital will contribute approximately $19.52 million in cash. The transaction is expected to close by December 1, 2026.

Soluna Holdings, Inc. acquired 100% of Briscoe Wind Farm, a 150 MW capacity wind generation project, on April 1, 2026, significantly expanding its renewable energy assets. For the second quarter ended June 30, 2026, total revenue increased by 144.6% to $15.06 million, primarily driven by a substantial rise in data hosting revenue. Despite this growth, the company reported an increased net loss of $22.62 million for the quarter, compared to a $7.78 million net loss in the prior year.

Soluna Holdings reported its second quarter 2026 financial results, with revenue increasing 145% year-over-year to $15.1 million. Despite sequential revenue growth, gross profit decreased to $766 thousand, and the company posted a net loss of $22.6 million, primarily due to a loss on debt extinguishment and Briscoe maintenance costs. Operationally, Soluna completed vertical integration at Project Dorothy 1, expanded its development pipeline to 6.3 GW with significant AI capacity, and entered a joint venture for Project Kati 2.

Soluna Holdings, Inc. announced the publication of an "Ask Me Anything" (AMA) session on its website on August 5, 2026. During this session, the company's management addressed questions from investors regarding relevant company matters. The AMA session is accessible under the "For Investors" section of the company's website.

Soluna Holdings, Inc. announced that it will release its second quarter 2026 financial results on Thursday, August 13, 2026. Following the release, the company will host a conference call and webcast to discuss the results, scheduled to begin at 5:00 PM ET on the same day.

Soluna Holdings, Inc. announced changes to the annual compensation for its Chief Executive Officer, John Belizaire. Following a review by the Compensation Committee, Mr. Belizaire's annual base salary was increased to $600,000, effective January 1, 2026. Additionally, his target annual bonus opportunity was established at 100% of his annual base salary, based on performance goals.

Soluna Holdings, Inc. announced the appointment of Ryan Carver as its new Chief Development Officer, effective immediately. Carver, who previously served as Senior Director – AI Construction & Site Development at Microsoft, will be responsible for the entire lifecycle of Soluna's AI/HPC data center platform, from site origination to operations. His extensive experience in building hyperscale AI infrastructure at Microsoft is expected to accelerate Soluna's expansion in the green data center sector.

Soluna Holdings, Inc. announced its June 2026 monthly business update, detailing corporate and operational progress. The company was added to the Russell 3000 and Russell 2000 Value Indexes, enhancing its visibility among institutional investors. Operational sites like Project Dorothy and Sophie maintained strong performance, while new projects like Kati 1B and Kati 2 showed significant development, including a signed Letter of Intent with a potential tenant for Kati 2.

Soluna Holdings, Inc. has terminated the designation of its Series B Convertible Preferred Stock after all 62,500 outstanding shares were converted into 6,510,416 shares of common stock. The company also paid $2.1 million in accrued dividends upon the full conversion of these shares. A Withdrawal of Designation was filed on June 23, 2026, with the Nevada Secretary of State, effectively removing the preferred stock designation from the company's Articles of Incorporation.

Soluna Holdings, Inc. announced a definitive joint venture agreement with DC Kati Venture LLC (Metrobloks Member) to develop and operate the multi-phase 350+ MW Project Kati 2 data center in Willacy County, Texas. Soluna contributed $3.5 million in operating expenses and committed an additional $19.0 million for Phase II property acquisition, holding 100% of Class A Interests and serving as manager. The company also reported strong Q1 2026 results with revenue up 58% year-over-year and Bitcoin hosting revenue up 178%, alongside achieving a record hash rate and 147 MW under management. Additionally, Soluna acquired full ownership of Project Dorothy 1B, signed a definitive purchase agreement for Project Dorothy 3, and provided updates on other projects like Kati 1 and Annie.