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Soluna Holdings, Inc. logo

Soluna Holdings, Inc.

SLNH

NASDAQTechnologyHardware, Equipment & Parts

Open in GoAI

Previous close

$1.18

−$0.01 · -0.84%

Aug 21, 4:00 PM ET

Pre-market

$1.175

−$0.005 · -0.42%

Aug 24, 6:30 AM ET

SLNH company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

35

Expensive

Momentum

20

Strong Down

Sentiment

52

Mixed

Risk resilience

10

Extreme Risk

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Company profile

Company website

Soluna Holdings, Inc. is an enterprise based in Albany, New York, that specializes in developing and constructing modular data centers specifically tailored for cryptocurrency mining. Additionally, the company maintains an active presence within the broader blockchain technology sector.

Industry
Hardware, Equipment & Parts
Sector
Technology
Headquarters
US
CEO
John Belizaire
Listed since
Jun 14, 1999
Employees
52

Market position

Day range

Current $1.18

52-week range

Current $1.18

Open
$1.195
Previous close
$1.19
Volume
8.97M
0.45× average
Average volume
19.73M
Average daily volume
Market cap
186.14M USD
Beta
5.12
Market reference 1
50-day average
$1.3094
-9.88% below average
200-day average
$1.363
-13.43% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
-13.17M USD
P/E (TTM)
-0.65×
P/B (TTM)
0.99×
P/S (TTM)
4.42×
EV / EBITDA
0.35×
Earnings yield
-157.15%
Free cash flow yield
-109.49%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
10.40%
Operating margin
-127.03%
Net margin
-182.17%
Return on equity
-97.35%
Return on assets
-28.42%
Return on invested capital
-21.89%

Financial health

Debt / equity
0.25×
Current ratio
1.87×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends131%-42%-216%-389%Gross margin, FY2021: 43.74%Gross margin, FY2022: 87.49%Gross margin, FY2023: 73.41%Gross margin, FY2024: 60.28%Gross margin, FY2025: 21.73%Operating margin, FY2021: -31.20%Operating margin, FY2022: -297.02%Operating margin, FY2023: -96.08%Operating margin, FY2024: -124.99%Operating margin, FY2025: -113.30%Net margin, FY2021: -36.67%Net margin, FY2022: -345.80%Net margin, FY2023: -138.62%Net margin, FY2024: -166.58%Net margin, FY2025: -179.73%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 43.74%. Gross margin FY2022 87.49%. Gross margin FY2023 73.41%. Gross margin FY2024 60.28%. Gross margin FY2025 21.73%. Operating margin FY2021 -31.20%. Operating margin FY2022 -297.02%. Operating margin FY2023 -96.08%. Operating margin FY2024 -124.99%. Operating margin FY2025 -113.30%. Net margin FY2021 -36.67%. Net margin FY2022 -345.80%. Net margin FY2023 -138.62%. Net margin FY2024 -166.58%. Net margin FY2025 -179.73%.

Income trends

Revenue

29.72M USD-21.84%

Operating income

−33.67M USD+29.15%

Net income

−53.41M USD+15.67%
Income trends across reported periods51.69M USD−3M USD−57.69M USD−112.39M USDRevenue, FY2021: 14.35M USDRevenue, FY2022: 28.55M USDRevenue, FY2023: 21.07M USDRevenue, FY2024: 38.02M USDRevenue, FY2025: 29.72M USDOperating income, FY2021: −4.48M USDOperating income, FY2022: −84.79M USDOperating income, FY2023: −20.24M USDOperating income, FY2024: −47.52M USDOperating income, FY2025: −33.67M USDNet income, FY2021: −5.26M USDNet income, FY2022: −98.72M USDNet income, FY2023: −29.2M USDNet income, FY2024: −63.33M USDNet income, FY2025: −53.41M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 14.35M USD. Revenue FY2022 28.55M USD. Revenue FY2023 21.07M USD. Revenue FY2024 38.02M USD. Revenue FY2025 29.72M USD. Operating income FY2021 −4.48M USD. Operating income FY2022 −84.79M USD. Operating income FY2023 −20.24M USD. Operating income FY2024 −47.52M USD. Operating income FY2025 −33.67M USD. Net income FY2021 −5.26M USD. Net income FY2022 −98.72M USD. Net income FY2023 −29.2M USD. Net income FY2024 −63.33M USD. Net income FY2025 −53.41M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue29.72M USD38.02M USD21.07M USD28.55M USD14.35M USD
Cost of goods sold23.26M USD15.1M USD5.6M USD3.57M USD8.07M USD
Gross profit6.46M USD22.92M USD15.47M USD24.98M USD6.28M USD
Research and development————1.53M USD
Selling, general, and administrative30.52M USD47.22M USD15.69M USD19.27M USD9.17M USD
Operating expenses40.13M USD70.44M USD35.71M USD109.77M USD10.75M USD
Interest expense4.84M USD2.53M USD2.75M USD8.38M USD1.88M USD
Depreciation and amortization16.53M USD15.64M USD13.38M USD28.21M USD3.87M USD
Operating income−33.67M USD−47.52M USD−20.24M USD−84.79M USD−4.48M USD
Net income−53.41M USD−63.33M USD−29.2M USD−98.72M USD−5.26M USD

Company facts updated Aug 24, 2026.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$4.00

238.98% upside
Past 12 months12-month forecastHigh $4.00Average $4.00Low $4.00

SLNH news

seekingalpha.com

Soluna Holdings: The $1.3B Question Remains Unanswered

Soluna Holdings, Inc. is transitioning from Bitcoin mining to AI data center hosting, but market focus has shifted to its ability to finance growth without excessive dilution. Q2 2026 revenue surged 145% to $15.06M, yet…

Read source
seekingalpha.com

Soluna Holdings, Inc. (SLNH) Q2 2026 Earnings Call Transcript

Soluna Holdings, Inc. (SLNH) Q2 2026 Earnings Call Transcript

Read source
marketbeat.com

Soluna Q2 Earnings Call Highlights

Soluna NASDAQ: SLNH reported second-quarter 2026 revenue of $15.1 million, up 145% from a year earlier, as its hosting operations expanded and additional sites ramped. The company said the quarter marked its fifth…

Read source
businesswire.com

Soluna Reports Q2'26 Results; Revenue Grows 145% Year-Over-Year

ALBANY, N.Y.--(BUSINESS WIRE)---- $SLNH #SLNH--Soluna Holdings, Inc. (“Soluna” or the “Company”) (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI,…

Read source
businesswire.com

Soluna Announces Date of Second Quarter 2026 Earnings Call

ALBANY, N.Y.--(BUSINESS WIRE)---- $SLNH #SLNH--Soluna Holdings, Inc. (“Soluna”) (Nasdaq: SLNH), a developer of green data centers for intensive computing applications, including AI and Bitcoin mining, today announced it…

Read source
seekingalpha.com

Soluna Holdings: The Business Has Changed, The Valuation Hasn't

Soluna is transitioning from Bitcoin mining to a power-backed hosting provider, with 71% of Q1 revenue now from hosting. SLNH's ownership of energized power assets like Dorothy 1A and Briscoe Wind Farm provides a rare,…

Read source

Corporate actions

Corporate action history

Stock split

Effective Oct 16, 2023

1:25

Stock split

Effective May 16, 2008

1:8

Stock split

Effective Apr 13, 2000

3:1

Stock split

Effective May 18, 1999

3:2

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ETFs holding SLNH

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
4.6M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
CoinShares Bitcoin Mining ETF logoCoinShares Bitcoin Mining ETFWGMI
Market value
4.59M
Weight
2.01%
AUM
240.4M USD
Expense ratio
0.75%
Price / 1D
$45.73-2.54%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
3.56M
Weight
0.00%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Fidelity Crypto Industry and Digital Payments ETF logoFidelity Crypto Industry and Digital Payments ETFFDIG
Market value
1.84M
Weight
0.70%
AUM
247.55M USD
Expense ratio
0.39%
Price / 1D
$44.08+2.16%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
1.25M
Weight
0.01%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%
Global X - Blockchain ETF logoGlobal X - Blockchain ETFBKCH
Market value
1.01M
Weight
0.37%
AUM
271.05M USD
Expense ratio
0.50%
Price / 1D
$70.34+1.53%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
1.01M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
716.36K
Weight
0.00%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$121.25+0.74%

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