Soluna Reports Q1 Revenue of $9.4M, Up 58% as Data Center Business Offsets Mining Decline

According to The Block, Soluna Holdings reported Q1 revenue of $9.4 million on May 19, up 58% year-over-year with consecutive quarterly growth for the fourth straight period. Data center hosting generated $6.7 million of revenue, while cryptocurrency mining contributed approximately $2.2 million, down from nearly $3 million in the prior-year quarter. Net losses expanded to $17.9 million from $10.5 million a year ago. The company held $68.6 million in cash at quarter-end and is shifting capital toward AI and high-performance computing infrastructure as part of broader bitcoin miner efforts to diversify revenue streams.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments