“Demand Response Service : Demand response service revenue increased during the three months ended March 31, 2026, compared to the same period in 2025, which was due to D2 becoming operational in the second quarter of 2025, and as such no revenue was generated…”10-Q · May 15, 2026 ↗
Soluna Holdings, Inc.
SLNH
Market read
Soluna Holdings, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 29 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.
- SLNH's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if SLNH's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 29 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- SLNH's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
For brokers and capital-markets platforms, the key question is how client activity, interest rates, customer balances, margin lending and market conditions translate into earnings and capital needs.
- Can client and activity growth offset pressure from lower rates or weaker trading volumes?
- Are customer balances, margin lending and credit conditions changing the risk profile?
- Does the valuation reflect a durable earnings model or unusually favorable market conditions?
- Operating margin changed +11.7 percentage points in the latest annual period.
- Latest annual revenue changed -21.8% year over year.
- Net margin changed -13.2 percentage points in the latest annual period.
- Demand and volume has repeated adverse evidence across 4 filings.
- EV/sales is 95% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 11, 2026
1.19Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.2× · EV/sales 1.8×. Comparisons use only industry-matched filing peers.
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for SLNH. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for SLNH. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind SLNH
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
GLXYGalaxy DigitalcustomerNov 14, 2025 ▾
“Project Kati is designed as a two-phase buildout: Kati 1 (83MW) is dedicated to Bitcoin hosting with Galaxy Digital as the first customer already secured, while Kati 2 (83MW) will expand the site to support AI and high-performance computing (HPC) infrastructu…”
KULRKULR Technology Group, Inc.customerNov 14, 2025 ▾
“Under this agreement, Soluna will operate approximately 3.3 MW of Bitcoin mining capacity for KULR at its Project Sophie facility in Kentucky.”
Depended on by
BMNRBitmine Immersion Technologies, Inc.partnerJul 2, 2025 ▾
“32 Soluna Hosted Locations On October 9, 2023, we entered into a hosting agreement with Soluna SW, LLC to host 1,095 ASIC miners at its data center at its Murray, Kentucky location.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 10 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
SLNH is currently a Follower in the organic co-movement group Semiconductor Manufacturing. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for SLNH; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.