Soluna Holdings, Inc. announced its financial results for the second quarter ended June 30, 2025, showing steady gross margin and continued improvement in Adjusted EBITDA.
Key operational and corporate highlights include securing land and funding for Project Kati, expanding hosting deployments with key customers, and progressing with Project Dorothy 2 construction.
Second quarter finance and operations highlights reveal a decline in net loss, improved Adjusted EBITDA, and steady gross profit despite challenges in the market.
Project Kati Land Secured
Land secured and $20M in funding obtained to launch 35 MW Kati 1, a wind-powered data center.
Expanded Hosting Deployments
Increased hosting deployments with key customers Blockware, Compass Mining, and other top-tier miners.
Project Dorothy 2 Construction Progress
Construction on track for Project Dorothy 2 with energization expected in Q4.
MW of New Projects Launched
New projects launched in Q2, including wind-powered Projects Hedy and Ellen, and solar-powered Project Annie.
Increased Power Pipeline
Power pipeline increased to 2.8 GW of long-term capacity, positioning Soluna for sustainable computing infrastructure growth.
- Despite challenges such as Bitcoin halving and Hashprice volatility, Soluna demonstrated resilient progress in its financial and operational performance during Q2'25.
- The company's focus on scaling renewable computing and diversifying energy sources in Texas mark significant steps towards sustainability and growth.
Soluna Holdings showcased a strong performance in Q2'25 with improvements in key financial metrics and strategic advancements in its projects. The company's commitment to sustainable computing and operational efficiency continues to drive its success in the market.