Soluna Q2 gross profit falls, partly on Briscoe maintenance

Soluna Holdings

13/08/2026 21:14

Overview
U.S. green data center developer's Q2 revenue grew 145% yr/yr, fifth straight quarterly increase
Gross profit declined, impacted by Briscoe maintenance and ramp costs at Kati 1
Company completed vertical integration at Project Dorothy 1, expanding control over generation and compute

Outlook
Soluna says it is expanding AI and data center capacity, with a pipeline now at 6.3 GW
Company is converting existing sites to AI workloads and advancing Dorothy 3 campus
Soluna did not provide specific financial guidance for the current qtr or full yr

Result Drivers
SITE EXPANSION - Revenue growth driven by contributions from Dorothy 2, Kati 1A ramp, and Briscoe's first quarter under ownership
COST PRESSURES - Gross profit impacted by Briscoe maintenance costs, Kati 1 ramp costs, and depreciation ahead of full revenue contribution
AI PIPELINE GROWTH - Expanded development pipeline to 6.3 GW, with major capacity growth across AI sites and new projects dedicated to AI and HPC workloads

Company press release: ID:nBwbL7sS2a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Crypto Mining Revenue
 
$1.72 mln
 
Q2 Loss Per Share
 
$0.18
 
Q2 Net Loss
 
$22.62 mln
 
Q2 Operating Income
 
-$16.94 mln
 
Q2 Pretax Loss
 
$23.17 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the it services & consulting peer group is "buy"
Wall Street's median 12-month price target for Soluna Holdings Inc is $4.00, about 196.3% above its August 12 closing price of $1.35

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)