Soluna Holdings, Inc — Form 8-K

Soluna reported Q2 2026 revenue of $15.1M (145% YoY; 60% sequential), with five consecutive quarters of growth. The company completed vertical integration at Project Dorothy 1 by acquiring Briscoe Wind Farm ($53.0M, April 1), Spring Lane Capital's 85.4% Dorothy 1A interest ($16.5M, April 15), and Navitas's 49% Dorothy 1B stake (~$8.8M, May 19), giving Soluna full generation-to-compute control. Soluna also signed a joint venture with Metrobloks (June 3) for Project Kati 2 (100 MW Phase I + 250 MW Phase II), with Soluna holding all Class A interests as manager. Development pipeline expanded to 6.3 GW; Kati 1 achieved 48 MW and first positive gross profit ($82K); Dorothy 1A revenue grew 31% sequentially to $2.9M. As of filing, 244.6M shares outstanding; Q2 ended with $113.4M unrestricted cash, $33.1M total debt. Post-quarter, company raised ~$23.6M via ATM offering.