Financial Performance - Q1 2025 revenue was reported at 5.9million,reflectingadeclinecomparedtothesameperiodin2024duetomarketchallengesandoperationalissues[11]−TotalrevenueforQ12025was5.936 million, a decrease of 52.7% compared to 12.549millioninQ12024[28]−Cryptocurrencyminingrevenuedecreasedto2.999 million, down 53.1% from 6.396millioninthesameperiodlastyear[29]−Datahostingrevenuealsodeclinedto2.402 million, a 54.5% decrease from 5.278millioninQ12024[29]−ThenetlossattributabletoSolunaHoldings,Inc.forQ12025was7.556 million, compared to a net loss of 5.254millioninQ12024[29]−BasicanddilutedlosspershareforQ12025was0.88, compared to 2.62inQ12024[29]−AdjustedEBITDAforQ12025wasalossof1.6 million, a decline of 6.8millioncomparedtoQ12024[15]−Thecompanyreportedasignificantincreaseingeneralandadministrativeexpenses,whichroseto8.350 million in Q1 2025 from 6.397millioninQ12024[29]−NetlossfromcontinuingoperationsforthethreemonthsendedMarch31,2025,was7,354 million, compared to a loss of 2,544millioninthesameperiodof2024[36]−AdjustedEBITDAforthethreemonthsendedMarch31,2025,was(1,648) million, down from 5,147millioninthesameperiodof2024[36]AssetsandLiabilities−Totalcurrentassetsincreasedto15.758 million as of March 31, 2025, up from 13.495millionattheendof2024[26]−Totalassetsroseto90.049 million as of March 31, 2025, compared to 88.040millionattheendof2024[26]−Totalliabilitiesincreasedto63.056 million as of March 31, 2025, compared to 60.678millionattheendof2024[26]−CashandrestrictedcashattheendofQ12025totaled14.448 million, an increase from 11.394millionattheendofQ12024[31]ProjectDevelopment−Thecompanyhas220MWofnewprojectsindevelopment,contributingtoatotalprojectpipelineofapproximately698MWacrossoperations,construction,anddevelopment[10]−ProjectDorothy2isexpectedtoincreaseBitcoinhostingcapacityby649.2 million, a 1.4millionrisefromDecember31,2024,indicatingastrongcashposition[11]−Thecompanysecureda5 million non-dilutive debt facility with Galaxy Digital, enhancing its financial flexibility[10] Operational Changes - The termination of the HP Enterprises contract is expected to refocus the company on crypto-mining and AI data center development[6] - The company has made significant progress in simplifying its capital structure, including the full conversion of convertible loan notes and restructuring of preferred equity[5] Patent and Technology - A second utility patent was awarded in April 2025, broadening the scope of the company's modular data center technology[10]
Soluna (SLNH)2025-05-16 11:30