Soluna revenue jumps 58% as hosting business offsets weaker Bitcoin mining

Hosting revenue outpaced mining as new capacity came online, highlighting Soluna’s shift toward data centers for AI and high-performance computing.

Digital infrastructure company Soluna Holdings reported strong first-quarter revenue growth as expanding data center operations helped offset weaker returns from cryptocurrency mining.

Revenue rose 58% from a year earlier to $9.4 million and increased 2% from the previous quarter, according to the company’s earnings report released Monday. It was Soluna’s fourth-consecutive quarter of sequential revenue growth.

The gains were driven by additional capacity coming online at the company’s Dorothy and Kati sites in Texas. Data center hosting generated $6.7 million in revenue, while cryptocurrency mining contributed roughly $2.2 million, down from nearly $3 million the year before, as Bitcoin mining economics deteriorated. 

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