Soluna Q1 Revenue Jumps 58% as Hosting Offsets Weaker Mining

Soluna Holdings released first-quarter results showing revenue rising 58% year-over-year to $9.4 million. Data-center hosting generated $6.7 million as new Texas capacity came online, offsetting a drop in Bitcoin mining revenue to roughly $2.2 million from nearly $3 million. The net loss widened to $17.9 million from $10.5 million due to higher stock-based compensation and financing costs, while adjusted EBITDA loss narrowed to $2.1 million. The company ended the quarter with $68.6 million in cash and continues expanding AI and high-performance computing capacity. The results underscore miners' accelerating shift toward hosting services amid compressed mining margins post-halving.