---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-013456"
form_type: "8-K"
ticker: "SLNH"
cik: "0000064463"
company_name: "Soluna Holdings, Inc"
filed_at: "2026-03-30T23:59:59+00:00"
generated_at: "2026-05-15T08:29:08.217074+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Soluna Holdings reports FY2025 revenue $29.7M (-22% YoY), net loss $57M, adjusted EBITDA -$13.2M

## Summary
- Revenue fell 21.8% to $29.7M; hashprice declined 30.8% in 2025; Bitcoin mined dropped from 274 to 113.2.
- Net loss $57.0M vs $58.3M; adjusted EBITDA swung from +$0.9M to -$13.2M.
- Total cash $88.8M (up 750%); raised ~$142M in capital; current ratio 1.9x.
- Power pipeline grew to 4.3GW; completed Dorothy 2 (48MW); Kati 1 commissioning started.
- Launched AI infrastructure; MOU with Metrobloks for 100+ MW AI campus.

## SEC filing metadata
- accession: 0001493152-26-013456
- form_type: 8-K
- ticker: SLNH
- cik: 0000064463
- company_name: Soluna Holdings, Inc
- filed_at: 2026-03-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/64463/000149315226013456/0001493152-26-013456-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64463/000149315226013456/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-013456
- JSON: https://secwatch.observer/filing/0001493152-26-013456.json
- Plain text: https://secwatch.observer/filing/0001493152-26-013456.txt

## Key facts
- Earnings Releases
  Soluna Holdings, Inc reported financial results for the three months and fiscal year ended December 31, 2025.
  - Period: the three months and fiscal year ended December 31, 2025
  - Result: reported results
  source text: On March 30, 2026, Soluna Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the three months and fiscal year ended December 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/64463/000149315226013456/0001493152-26-013456-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.