Soluna's Q2 Revenue Soars, But Operating Loss Widens

Soluna Holdings' revenue grew by 145% in Q2 to $15.1 million, driven by its expansion into renewable-powered data centers and Bitcoin mining operations.

The company's consolidated gross profit fell 60% from the previous quarter to $766,000 due to maintenance costs at the Briscoe Wind Farm and ramp costs at Project Kati 1.

Soluna's net loss widened to $22.6 million in Q2, while its outstanding common shares rose by 120% to 225.8 million due to equity issuance.