Soluna Holdings, Inc., a developer of green data centers for intense computing applications like Bitcoin mining and AI, announced its financial results for Q3'25.
The company achieved a sequential increase in revenue and saw its gross profit rise to 28%, with cash reserves reaching a record $60 million.
Key operational and financial highlights include securing a $100 million credit facility, launching Project Kati 1 with a $20 million investment, settling a partnership with NYDIG, and regaining Nasdaq compliance.
Revenue Growth
Revenue for Q3'25 increased by 37% compared to Q2'25, driven by new customers at Dorothy 2.
Gross Profit Margin
Q3'25 gross profit margin reached 28%, showing cost discipline and margin stability with notable margins at Dorothy 1A and Sophie.
Cash Reserves
Cash reserves strengthened to $60.5 million, a $45 million increase from the previous quarter, preparing for future investments.
Partnerships and Expansion
Expanded partnerships with Galaxy Digital, exceeding 1 GW of clean computing projects, and reaching milestones at Dorothy 2 for enhanced profitability.
Financial Performance
Net loss for Q3'25 increased by ($17.7 million) due to fair value adjustments and financing expenses, while adjusted EBITDA decreased to ($6.4 million).
- Soluna's Q3'25 results demonstrate the company's strategic growth initiatives and financial stability amidst a competitive market.
- The strengthened balance sheet, new partnerships, and project expansions position Soluna as a key player in the green data center industry.
Soluna's Q3'25 performance reflects a positive trajectory with revenue growth, improved gross profit margins, and strategic partnerships paving the way for future expansion and profitability.