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.