Soluna Q1 Revenue Rises 58% as Data Center Hosting Surpasses Crypto Mining
Cointelegraph
Soluna Holdings saw a 58% revenue increase in Q1, driven by data center hosting growth despite declining returns in Bitcoin mining.Summary
Soluna Holdings reported a 58% year-over-year revenue increase to $9.4 million for the first quarter, marking four consecutive quarters of growth. This performance was bolstered by its data center hosting business, which generated $6.7 million, effectively offsetting weaker Bitcoin mining results. Despite the revenue gains, the company recorded a net loss of $17.9 million due to increased operational costs and interest expenses. Like many firms in the sector, Soluna is pivoting toward AI and high-performance computing to mitigate the impact of tighter mining economics following the 2024 halving.
(Source：Cointelegraph)