Soluna
Soluna is a public green data center developer that co-locates AI and Bitcoin mining compute with renewable energy plants, converting curtailed wind and solar power into computing revenue through its proprietary MaestroOS energy management platform.
- Company typePublic
- Founded2018
- HeadquartersAlbany, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Soluna does
Soluna Holdings, Inc. (NASDAQ: SLNH) is a publicly traded green data center developer that converts surplus and curtailed renewable energy into computing capacity for AI and Bitcoin mining workloads. The company co-locates data centers behind-the-meter with wind, solar, and hydro generation assets, operating a portfolio that includes Project Dorothy (50 MW flagship campus in Silverton, Texas powered by the 150 MW Briscoe Wind Farm), Project Kati (83 MW wind-powered campus in Willacy County, Texas with a 100+ MW AI expansion planned), Project Sophie (Kentucky), and Project Grace (Texas AI pilot). Soluna owns the full vertical stack from generation through compute, having completed the $53 million Briscoe Wind Farm acquisition in April 2026 and consolidated full ownership of the Dorothy campus by May 2026.
The company's technology foundation is MaestroOS, a proprietary energy management software that orchestrates real-time power routing across direct renewable generation, curtailed energy, and grid supplementation to maintain continuous uptime for batchable compute workloads. Soluna Cloud provides sustainable GPU compute for generative AI training and inference, while the Helix Data Center design supports direct liquid cooling and zero water consumption. Reported nameplate compute capacity is 4.5 EH/s at 25.7 J/TH efficiency, with 105 MW energized and 123 MW available.
Soluna's revenue model combines data center hosting (managed services at approximately 6.5-7.5 cents per kW) and proprietary cryptocurrency mining, with Q1 2026 revenue of $9.4 million split roughly $6.7 million hosting and $2.2 million self-mining. Customers are enterprise cryptocurrency mining companies (Blockware, Galaxy Digital, Compass Mining, Sazmining, Canaan, Cormint, Bit Digital, KULR Technology Group) and emerging AI/HPC tenants. Capital sources include Spring Lane Capital project financing (over $85 million across multiple facilities), Generate Capital ($100M credit facility plus $12.5M acquisition financing), Yorkville Advisors ($25M SEPA), and Galaxy Digital ($5M debt). The development pipeline exceeds 4.3 GW across multiple U.S. sites, though the company remains unprofitable with a Q1 2026 net loss of $17.9 million.
Soluna firmographics
Firmographics- Name
- Soluna
- Legal name
- Soluna AL CloudCo, LLC
- Website
- https://solunacomputing.com
- Company type
- Public
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Soluna is a public green data center developer that co-locates AI and Bitcoin mining compute with renewable energy plants, converting curtailed wind and solar power into computing revenue through its proprietary MaestroOS energy management platform.
- Ownership category
- akta.pro rank
Soluna industry classification
Industry- Product category
- Green Data Center Hosting
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)
- SIC
- Electric, Gas & Sanitary Services (4900), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)
- akta.pro primary industry
- Behind-the-Meter Aggregators Acting as DSO (Virtual Power Plant / Community Energy Operators) (EUADABAG)
- akta.pro secondary industries
- DER Financing, Contracting & Program Management (PPAs, Shared Savings, Performance) (EUAFAHAL), Cooling Systems & Thermal Management (CRAC/CRAH, Chillers, Liquid Cooling) (HDABAKAD), DER Aggregation & Virtual Power Plants (VPPs) (EUAMAJAC)
Keywords
Where Soluna is headquartered
LocationHeadquarters
- HQ city
- Albany
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Soluna business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Technology or R&D, Supply Chain, Personnel, Marketing or Sales
Revenue model
- Data Center Hosting: Soluna hosts Bitcoin mining and AI computing operations for enterprise customers at its co-located renewable energy data centers. Revenue is generated through hosting fees based on power consumption (typically 6.5-7.5 cents per kW). In Q1 2026, data center hosting generated $6.7 million in revenue. Customers include Blockware, Compass Mining, Galaxy Digital, Sazmining, Canaan, Cormint, and KULR Technology Group.
- Cryptocurrency Mining: Soluna operates proprietary Bitcoin mining using its own hardware at some facilities. In Q1 2026, cryptocurrency mining revenue was $2.2 million, down from nearly $3 million a year earlier as the company pivots toward AI infrastructure hosting.
- AI/High-Performance Computing: Soluna Cloud provides sustainable AI cloud services including GPU compute for AI training and inference workloads. The company is developing dedicated AI campuses (Dorothy 3, Kati 2) with capacity exceeding 300 MW for AI and HPC deployments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Bitcoin Mining Hosting (6.5-7.5 cents per kW) |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
Soluna product offering
Product offeringCore offering
Soluna develops and operates green data centers co-located with renewable energy plants (wind, solar, hydro) to provide behind-the-meter hosting services for Bitcoin mining and AI/HPC compute workloads. The company monetizes stranded renewable energy through its proprietary MaestroOS software, which balances power inputs in real time, and offers Soluna Cloud as a sustainable GPU compute service for generative AI model training and tuning.
Product overview
Soluna is a green data center developer offering Renewable Computing infrastructure that transforms surplus renewable energy into computing resources. The portfolio consists of Soluna Cloud (a sustainable GPU cloud for generative AI model training and tuning), powered by the proprietary MaestroOS energy management software. Data center projects include Project Dorothy (50MW flagship campus in Texas with Briscoe Wind Farm), Project Kati (83MW Bitcoin mining with 100+ MW AI expansion planned), Project Sophie (Kentucky), and Project Grace (Texas AI pilot). The Helix Data Center design features direct liquid cooling for AI workloads. All facilities are co-located behind-the-meter with renewable generation assets to achieve energy sovereignty and cost efficiency.
Differentiator
Problem solved
Functional benefit
Brands
- Soluna Cloud: Sustainable AI Cloud offering services related to GPU and GPU compute for AI workloads
- MaestroOS
- Project Dorothy
- Project Kati
- Project Sophie
- Project Grace
- Helix Data Centers
Products and services
- Soluna Cloud A sustainable GPU cloud service that provides access to GPU processing for generative AI model training and tuning, designed for businesses new to Gen AI. Supported by Hewlett Packard Enterprise infrastructure.
- Bitcoin Mining Hosting Behind-the-meter data center hosting service for enterprise Bitcoin mining operations, providing renewable-powered compute capacity at 6.5-7.5 cents per kW with 4.5 EH/s nameplate compute power and 25.7 J/TH efficiency.
- Project Dorothy Data Center Campus Flagship data center campus in Silverton, Texas, powered by the 150MW Briscoe Wind Farm. Includes Dorothy 1A (25MW) and Dorothy 1B (25MW) facilities totaling 50MW of compute capacity, with plans for Dorothy 3 AI campus (300MW+). Supports Bitcoin mining and AI/HPC workloads.
- Project Kati Data Center Campus Largest data center site to date, located in Willacy County, South Texas. Kati 1 is an 83MW wind-powered Bitcoin mining campus (Kati 1A at 48MW, Kati 1B at 35MW). Kati 2 is a planned 100+ MW AI and HPC data center in partnership with Metrobloks, expected to span 350MW across 500+ acres with seven buildings.
- Project Sophie Data Center Data center project in Kentucky, featuring a 3.3MW Bitcoin mining hosting deployment with KULR Technology Group, powered by renewable energy.
- Briscoe Wind Farm 150MW wind generation facility located in Briscoe and Floyd counties, Texas, acquired in April 2026 for $53 million. Powers the Project Dorothy campus and enables vertical integration of renewable energy and compute infrastructure.
- Helix Data Centers Data center design specifically engineered for Generative AI and batchable computing workloads, featuring direct liquid cooling technology, zero water waste, and scalable modular structure.
- Project Grace Texas-based data center site hosting a 2MW renewable AI data center pilot project developed in partnership with Siemens to test power management challenges for behind-the-meter AI computing deployments.
Quantifiable outcome
- Power costs approximately 3 cents per kW vs market rates of 6.5-7.5 cents per kW
- +3 more outcomes
Companies that use Soluna
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles3 records
Soluna technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature1 record
Soluna partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor and core.
- Navitas GlobalminorSold remaining 49% equity interest in Project Dorothy 1B to Soluna for $8.8 million, giving Soluna complete ownership of the Dorothy 1 campus.
- SazminingminorBitcoin Mining as a Service provider deploying 3 MW at Project Dorothy 1B with expansion potential based on demand. Marks Sazmining's second U.S.-based mining deployment.
- BlockwarecoreBitcoin mining firm with over 17 MW of deployed capacity across Soluna sites following four expansion agreements. Blockware is Soluna's largest customer, with first deployment at Dorothy 1B powered by the Briscoe Wind Farm.
- MetroblokscorePartnership to co-develop Project Kati 2, a 100+ MW AI and high-performance computing data center at Soluna's Kati campus. Metrobloks leads design, development, leasing, and operations while Soluna provides site control, power entitlements, and development support. Non-binding LOI signed with potential neocloud tenant.
- KULR Technology Groupminor3.3 MW Bitcoin mining hosting partnership at Project Sophie in Kentucky, expected to start operations in Q4 2025. Part of KULR's strategy to include Bitcoin in its treasury.
- Canaan Inc.minorPartnership to deploy 20 MW of next-generation Bitcoin miners at wind-powered data center in Texas, expected to deliver approximately 1 EH/s of computing power. Operating on a 'behind-the-meter' model.
- Compass MiningcoreLong-term partnership for Bitcoin mining hosting at Soluna data centers, representing one of Soluna's earliest and most sustained customer relationships.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
Soluna competitors and assessment
Company assessmentDirect peers
- Crusoe Energy Systems: Operates behind-the-meter data centers originally powered by stranded flare gas, pivoting to AI compute infrastructure — the most direct comparable to Soluna's behind-the-meter renewable compute model.
- TeraWulf: Operates Bitcoin mining data centers powered by zero-carbon energy (nuclear and hydro) with vertical integration into power — closely comparable to Soluna's renewable-powered, vertically integrated compute model.
- Iris Energy: Renewable-powered Bitcoin mining operator using behind-the-meter wind and solar, with a stated strategy of expanding into AI/HPC workloads — direct comparable in customer base and sustainability positioning.
- Greenidge Generation: Owns and operates a behind-the-meter natural gas power plant co-located with a Bitcoin mining data center, pursuing diversification into HPC — similar vertically integrated compute + power model.
- Marathon Digital Holdings: Large-scale Bitcoin mining operator increasingly focused on sustainable power and exploring AI/HPC diversification — comparable in mining customer profile and renewable energy transition.
- Riot Platforms: Vertically integrated Bitcoin mining operator with proprietary power infrastructure in Texas, pursuing HPC/AI diversification — directly comparable geography and infrastructure model.
- Hut 8: Energy infrastructure operator that combines Bitcoin mining with AI/HPC compute services under one platform — a direct comparable for Soluna's dual crypto + AI hosting strategy.
- Bitfarms: Bitcoin mining operator using primarily renewable hydropower with operations in the Americas — comparable customer base and renewable-energy-first positioning.
Broad incumbents
- CoreWeave: Large neocloud GPU provider purpose-built for AI workloads — overlapping AI hosting customer base with Soluna Cloud but lacking behind-the-meter renewable power as a structural advantage.
- Vantage Data Centers: Hyperscale data center operator with sustainability-focused campuses serving AI and enterprise tenants — broader incumbent offering renewable-powered capacity rather than specialized behind-the-meter compute.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Soluna social profiles
Digital presenceSoluna financial estimates
Financial estimateRevenue estimate
Valuation estimate
Soluna leadership team
Management profileNumber of profiles
Profiles6 records
Soluna subsidiaries and ownership
Company hierarchySubsidiaries1 record
Soluna funding detail
Funding detailFunding overview
Funding rounds18 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Soluna M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Soluna
What does Soluna do?
Soluna develops and operates green data centers co-located with renewable energy plants (wind, solar, hydro) to provide behind-the-meter hosting services for Bitcoin mining and AI/HPC compute workloads. The company monetizes stranded renewable energy through its proprietary MaestroOS software, which balances power inputs in real time, and offers Soluna Cloud as a sustainable GPU compute service for generative AI model training and tuning.
Is Soluna a public or private company?
Soluna is a public company. It is classified as public and is currently operating.
When was Soluna founded?
Soluna was founded in 2018. It employs 1 to 10 people.
Where is Soluna based?
Soluna is headquartered in Albany, United States, in the North America region.
How does Soluna make money?
Three revenue lines are on record. Data Center Hosting is the primary driver. The others are cryptocurrency Mining and AI/High-Performance Computing.
Who are Soluna's main competitors?
Direct peers on record are Crusoe Energy Systems, TeraWulf, Iris Energy, Greenidge Generation, Marathon Digital Holdings, Riot Platforms, Hut 8 and Bitfarms. Broad incumbents are CoreWeave and Vantage Data Centers.
Does Soluna have an API?
No public API is recorded for Soluna.
What industry is Soluna in?
Soluna's product category is Green Data Center Hosting. Its primary akta.pro industry code is EUADABAG, Behind-the-Meter Aggregators Acting as DSO (Virtual Power Plant / Community Energy Operators), with a secondary code of EUAFAHAL, DER Financing, Contracting & Program Management (PPAs, Shared Savings, Performance). Its NAICS code is 5182 and its SIC code is 4900.