Soluna Holdings, Inc. Announces Record Growth, Major Pipeline Expansion, and Key Project Updates in March 2026 Business Update
Soluna Holdings, Inc. Announces Record Growth, Major Pipeline Expansion, and Key Project Updates in March 2026 Business Update
ALBANY, NY, April 9, 2026 — Soluna Holdings, Inc. (Nasdaq: SLNH), a developer of green data centers for high-intensity computing applications including Bitcoin mining and Artificial Intelligence (AI), has released its comprehensive business update for March 2026. This update contains several significant developments that could impact the company’s share price and are important for investors to note.
1. Corporate Highlights
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Record Growth in 2025: Soluna reports a record year, with its development pipeline reaching 4.3 gigawatts (GW), the successful raising of \$142 million in capital, and the launch of new AI infrastructure initiatives.
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Leadership Engagement: CEO John Belizaire recently hosted Metrobloks CEO Ernest Popescu on Soluna’s Clean Integration Podcast, focusing on AI infrastructure and the development of Project Kati 2.
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Investor Relations: A new “Ask Me Anything” (AMA) session addressed investor and community questions about Soluna’s financing strategy and project pipeline, enhancing transparency.
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New Auditors: KPMG, LLP has been appointed as Soluna’s new independent registered public accounting firm for the fiscal year ending December 31, 2026. This signals a commitment to enhanced governance and financial transparency, which may be price sensitive as it could impact investor confidence.
2. Key Project Updates
Project Dorothy 1A (25 MW, Bitcoin Hosting) & Dorothy 1B (25 MW, Bitcoin Prop-Mining)
- Operations at Dorothy 1A remained at full capacity after completing 20 MW Blockware and Canaan deployments.
- Transformer repair temporarily impacted two Modular Data Centers (MDCs) at Dorothy 1A, but these are expected to resume service in April—a development shareholders should monitor for potential short-term revenue impacts.
- ERCOT Emergency Response Service (ERS) period was successfully completed.
Project Dorothy 2 (48 MW, Bitcoin Hosting)
- Strong operations with all customers at full capacity and minimal curtailment.
- ERCOT ERS period successfully completed.
Project Sophie (25 MW, Bitcoin Hosting)
- Maintained strong operational performance, with all customers at full capacity.
Project Kati 1 (83 MW Under Construction, Bitcoin Hosting)
- Substantial completion and commissioning of K1A Galaxy (48 MW) ahead of schedule; transitioning to steady-state operations—a key milestone for revenue expansion.
- Installation of Cormint containers (12 MW) for K1B is in progress, with construction of the remaining Soluna MDCs (23 MW) advancing as planned.
Project Kati 2 (Under Development, AI/HPC Hosting)
- Strong interest and ongoing due diligence from hyperscalers and neocloud providers, suggesting potential major customer wins.
- LOI signed for long-lead gas generation equipment to support on-site generation options, with solar and gas generation under evaluation.
- Campus expansion roadmap in development, targeting a materially larger scale.
- Architectural and Engineering firm selected, with design activity commencing mid-April 2026.
- Procurement for long-lead data center equipment is underway.
Project Grace (2 MW Under Development, AI/HPC Hosting)
- Technical simulations with OEM partner are being finalized to ensure compatibility with ERCOT grid stability and AI load integration requirements.
3. Pipeline and Land Acquisition Highlights
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Development Pipeline: Surpassed 4.3 GW, bolstered by new and existing partnerships with Independent Power Producers (IPPs) across several U.S. grid operators—a strong signal of future growth.
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Contract Closings: Finalizing Power Purchase Agreements (PPAs) and Retail Electric Provider (REP) agreements for Project Rosa; agreements for Projects Ellen and Hedy are finalized and pending signatures.
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Accelerated Project Development: Projects Annie, Gladys, and Fei are moving forward outside ERCOT’s Large Flexible Load Batch study, leveraging sub-75 MW interconnection pathways for faster execution.
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Dorothy Campus Expansion: LOI executed for land acquisition to support expansion, with negotiations ongoing for a definitive Purchase and Sale Agreement—a move that could materially expand hosting capacity and future revenues.
4. Customer Success and Deployment
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MW Deployments: Soluna is completing megawatt deployments across new and expanding partnership agreements at Projects Dorothy 1 & 2, reinforcing customer relationships and revenue growth.
5. Strategic and Financial Implications for Investors
- Record pipeline growth, major capital raising, and new AI infrastructure launches position Soluna as a leader in green computing and AI infrastructure.
- New auditor appointment (KPMG, LLP) may enhance credibility and governance, which could positively affect investor sentiment and share price.
- Acceleration of major projects, land acquisition for expansion, and progressing customer agreements signal continued momentum and potential for revenue and margin growth.
- Risks remain, including project execution, grid integration, and the need for continued customer wins, but recent milestones are largely positive.
6. About Soluna Holdings, Inc.
Soluna is focused on transforming surplus renewable energy into high-value computing resources, co-locating data centers with renewable power plants for applications such as Bitcoin mining and AI. The company’s MaestroOS™ software helps optimize grid operations while offering cost-effective, sustainable computing solutions.
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Disclaimer
This article is for informational purposes only and does not constitute investment advice. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Investors should review Soluna’s filings with the SEC, including risk factors disclosed in the latest Annual Report on Form 10-K. The author assumes no responsibility to update or revise this article for subsequent events.
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