Soluna Holdings Inc. Reports 80% Revenue Growth, Achieving $38 Million in 2024 with Positive Cash Flow from Bitcoin Hosting Business

Reuters
14 Jul
Soluna Holdings Inc. Reports 80% Revenue Growth, Achieving $38 Million in 2024 with Positive Cash Flow from Bitcoin Hosting Business

Soluna Holdings Inc., a developer of green data centers for intensive computing applications, has announced significant financial results for the year 2024. The company reported an impressive revenue growth of over 80%, reaching $38 million, and achieved positive cash flow from its Bitcoin Hosting business. This substantial increase in revenue indicates that Soluna's business model is proving effective. The company also reported that Project Dorothy 1A and 1B have been brought into full-year operation, and the launch of their Demand Response Services $(DRS)$ has generated $2.1 million in new revenue. Additionally, Project Dorothy 2 has seen a 64% hosting capacity expansion and is expected to reach 48 MW by the end of the year. Looking forward, Soluna Holdings has outlined its strategic plans, including breaking ground on Project Kati for hybrid Bitcoin and AI workloads, advancing Project Rosa-a 187 MW site for large-scale computing-and expanding its pipeline to over 2.8 GW of AI and Bitcoin hosting capacity. The company aims to form new joint ventures to efficiently deploy capital and strengthen its balance sheet by reducing debt and owning larger stakes in high-performing projects. These developments position Soluna Holdings to lead in the renewable energy and computing sector, with a focus on converting curtailed renewable energy into reliable, low-cost power for Bitcoin and AI workloads.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Soluna Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001641172-25-018890), on July 14, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10