AI Earnings Predictions for Soluna Holdings Inc 9.0% Series A Cumulative Perpetual Preferred Stock (SLNHP)

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Exhibit 99.1

Soluna Reports Q1’26 Results; Revenue Grows 58% Year-Over-Year and 4th Consecutive Quarter Sequentially

Completes Kati 1A Ahead of Schedule, Advances Kati 2 AI JV

ALBANY,

NY, May 18, 2026 - Soluna Holdings, Inc. (“Soluna” or the “Company”) (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, announced its financial results for the first quarter ended March 31, 2026.

“Our fourth consecutive quarter of sequential revenue growth and 58% year-over-year increase reflects the operating leverage we’re building across the portfolio. With Kati 1 now contributing, Dorothy 1A back at full capacity, and Dorothy 2 fully ramped, we’re entering the next phase of Soluna’s growth from a position of operational strength,” said John Belizaire, CEO of Soluna Holdings.

“Our AI expansion at Kati 2 is well underway, while Briscoe Wind now vertically integrates the power layer supporting Dorothy 3. Together with the full acquisition of Dorothy 1A, these milestones position Soluna for sustained growth and accelerating momentum,” Belizaire continued.

Q1 2026 Operational and Corporate Highlights:

●Project Kati 1A Reaches Completion Ahead of Schedule – All three phases of Project Kati 1A, totaling 48 MW, reached completion ahead of schedule, supported by $10.9 million in project-level financing from Spring Lane Capital.

●Project Kati 2 Advances with AI Partnership – Soluna partnered with Metrobloks to unlock 100+ MW of AI and HPC capacity, secured 500+ acres of additional land, advanced Phase 1 to 30% schematic design, and began procurement of long-lead equipment for the up to 300 MW+ site.

●Project Dorothy 1A Fleet Upgrade Completed – Soluna completed a 20 MW fleet upgrade at Dorothy 1A, returning the site to full capacity and improving fleet-wide efficiency.

●Expanded Blockware Partnership at Project Dorothy 1A – Soluna expanded its hosting relationship with Blockware, adding 6 MW at Project Dorothy 1A, strengthening utilization at the site.

●Development Pipeline Surpasses 4.3 GW – Soluna’s pipeline grew to 4.3 GW through new and expanded IPP partnerships, anchored by an AI-focused pipeline including Kati 2 (300 MW+), Dorothy 3 (300 MW+), and early-stage greenfield sites across the U.S.

●Michael Picchi Appointed Chief Financial Officer – Soluna appointed Michael Picchi as CFO, effective April 1, 2026.

First Quarter Financial Highlights:

●Revenue increased sequentially for the fourth consecutive quarter from $9.2 million to $9.4 million. On a year-over-year basis, revenue increased 58%, driven by Dorothy 2 energization, Dorothy 1A revenue growth, and Kati 1 going live, partially offset by hashprice compression at Dorothy 1B.

●Net loss increased ($10.5 million) YoY to ($17.9 million), driven by higher equity compensation, interest, and financing expenses, partially offset by site-level operating improvement. EBITDA loss declined ($9.4 million) YoY to ($12.4 million) on the same drivers. After adjusting for stock-based compensation, SEPA commitment fees, and minor asset sale gains, Adjusted EBITDA loss fell modestly ($444 thousand) YoY to ($2.1 million).

●Revenue for the three months increased by 2% or $186 thousand from Q4 2025 to Q1 2026 – driven by Project Kati 1 going live in February and new Dorothy 1A customer additions, partially offset by an -18% hashprice decline ($42 to $34) on proprietary mining and profit share revenue.

●Q1 2026 Gross Profit increased sequentially from $1.8 million to $1.9 million, driven by higher hosting revenue, partially offset by higher site-level depreciation as Kati 1 assets were placed in service.

●Dorothy 1A, Dorothy 2, and Sophie delivered strong gross margins of 36%, 41%, and 37%, respectively.

●Dorothy 1B generated a (15%) gross margin loss, driven by hashprice compression.

●Kati 1 reported a $262 thousand loss in its first quarter of operations, reflecting ramp-up costs ahead of meaningful revenue.

(Dollars in thousands) Three Months Ended March 31,

2026 2025

Net loss $(17,902) $(7,354)

Interest expense 1,481 838

Income tax benefit (624) (425)

Depreciation and amortization 4,603 3,879

EBITDA

(12,442) (3,062)

Adjustments: Non-cash items

Stock-based compensation costs

10,222 1,847

Gain on sale of fixed assets (32) —

Right of first refusal amortization gain (90) —

SEPA commitment fee 250 —

Fair value adjustment loss — 118

Gain on debt extinguishment and revaluation, net — (551)

Adjusted EBITDA $(2,092) $(1,648)

●Net loss for Q1 2026 increased $1 million sequentially to $17.9 million. However, adjusted EBITDA loss improved from Q4 2025 to Q1 2026 to ($2.1 million) – increased by $1.9M (47%) sequentially, driven by lower compensation and professional fee expenses alongside stable gross profit from Dorothy 2 and Kati 1.

●Adjusted EBITDA loss declined from Q1 2025 to Q1 2026 by ($444 thousand) – primarily due to non-recurring costs associated with legal an

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Exhibit 99.1

Soluna Reports Record 2025 Growth: Pipeline Hits 4.3GW, Raises $142 Million, and Launches AI Infrastructure

Strong Capital Formation, Expanded Operations Position Company for an Accelerated 2026 Despite Q4 Hashprice Headwinds

ALBANY,

NY, March 30, 2026 – Soluna Holdings, Inc. (“Soluna Holdings” or the “Company”) (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, announced financial results for the full year ended December 31, 2025.

“2025 was a transformational year for Soluna. We doubled our operating capacity, grew our power pipeline to 4.3GW, added two new project-level capital partners, and launched our AI infrastructure initiative — all while building a strong balance sheet to fund our next phase of growth,” said John Belizaire, CEO of Soluna Holdings.

“The completion of Dorothy 2, the commissioning of Kati 1, and our co-development partnership for Kati 2 are clear proof points of our ability to execute. We enter 2026 as Soluna 2.0 with significant momentum and a platform built to scale,” continued John Belizaire.

2025 Operational and Corporate Highlights:

● Surpassed 1 GW of Renewable-Powered Computing – With the addition of Projects Gladys and Fei in August, Soluna crossed 1 GW of renewable-powered computing in operation, construction, and development, a notable milestone reflecting the scalability of its behind-the-meter model.

● Dorothy 2 Completed, Powered Up, and Operational – We completed and fully energized Project Dorothy 2 (48MW) in November 2025, enhancing the profitability and operational efficiency of our operating data centers, while diversifying our customer mix and improving overall customer satisfaction. Dorothy 2 is now fully marketed and contracted.

● Construction of Kati 1 started in the third quarter of 2025 – In February 2026, we received approval from ERCOT to commence the initial energization and phased commissioning of Project Kati 1. We expect to begin generating revenue from this 83MW facility as capacity is ramped up throughout the first half of 2026.

● Kati 2 AI Development Underway — Soluna is advancing Project Kati 2 in Texas as a planned AI and HPC data center campus. In 2025, the Company signed an MOU with Metrobloks for an initial 100+ MW critical IT development, with a roadmap to expand to over 300 MW.

● Power Pipeline Grows to 4.3+ GW — The long-term power pipeline expanded to 4.3+ GW, driven by new curtailment assessments, active term sheet discussions, and launches of six new development-stage projects, positioning Soluna as a scalable infrastructure platform.

“Our 2025 financial results reflect the significant investment we made in building the foundation for long-term growth. We raised approximately $142 million in capital, grew our total cash position by 750% to $88.8 million, and added two new project-level financing partners,” said David Michaels, interim CFO of Soluna Holdings.

“While Bitcoin headwinds negatively impacted revenue, our balance sheet strengthened. Our current ratio improved to 1.9x, and we are well-capitalized to execute on our pipeline development and AI infrastructure initiatives heading into 2026,” continued David Michaels.

Fourth Quarter 2025 Financial Results

● Revenue in Q4 2025 grew sequentially from Q3 – it grew by 9% from $8.4 million to $9.2 million on volume growth from operational expansion, offset by headwinds on lower hashprice.

● Q4 2025 gross profit decreased sequentially from $2.3 million to $1.8 million – driven by a softening of hashprice due to the challenging Bitcoin environment offset, in part, by an increase in volume from completing Dorothy 2.

● Stronger liquidity position in Q4 2025 – Total cash grew $28.4 million (47%) from $60.5 million in Q3 to $88.8 million in Q4 from equity raises, further bolstering our reserves for future investment opportunities.

Fiscal Year 2025 Financial Results:

● Significant Capital Formation in 2025 – totaling ~$142 million from debt issuances, SEPA draws, RDOs, and ATM transactions. We added two new project-level financing partners: Generate Capital ($17M) and Galaxy Digital, LLC ($5M). Spring Lane Capital ($30M) continues its support of our data center projects. The Generate Credit Facility is Soluna’s largest and most strategically significant financing arrangement to date, providing up to $100M of scalable, project-level capital to fund construction across the pipeline.

● Outstanding Unrestricted Cash Growth – Unrestricted cash reached $76 million at the end of FY 2025. Total cash increased 750% from $10.5 million to $88.8 million. The significant cash infusion enabled us to expand our pipeline, optimize our current Bitcoin assets, and initiate a launch into AI.

● PP&E growth reflects project investments – Our net PP&E increased from $47.3 million to $74.8 million (+58%) in 2025, echoing the current development of our pipeline projects. For example, the en

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Exhibit 99.1

Soluna Reports Q3’25 Results

37% Increase in Revenue Sequentially, Gross Profit Increased to 28%, Cash Swells to a Record $60 Million

ALBANY,

NY, November 17, 2025 - Soluna Holdings, Inc. (“Soluna” or the “Company”) (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, announced its financial results for the third quarter ended September 30, 2025.

“This is a new Soluna,” said John Belizaire, CEO of Soluna Holdings. “What we achieved in the third quarter reflects the exceptional execution of our small but mighty team. We’ve proven that our business model works and scales, strengthened our position as a leading Bitcoin hosting provider, and attracted new, world-class capital partners.”

Belizaire continued: “We’ve also strengthened our capital structure to be more flexible and growth-oriented. With this foundation, we now have more firepower to accelerate the growth of our existing business and expand into the fast-growing AI market.”

Q3 2025 Operational and Corporate Highlights:

●$100 Million Credit Facility from Generate Capital – Soluna announced the close of a scalable credit facility up to $100 million from Generate Capital. The initial $12.6 million draw in September funded refinancing and construction of active data center projects, with additional capital support for Soluna’s 1 gigawatt and expanding pipeline.

●$20M

Secured to Launch Project Kati 1 and Broke Ground – Spring Lane Capital expands its investment in Soluna to fund the first 35 MW of Project Kati, a wind-powered data center site in Texas. Construction began on September 18, 2025.

●Settlement with NYDIG – As disclosed in our Form 8-K filed September 30, 2025, Soluna reached a settlement with NYDIG, resolving all outstanding matters and clearing the path for future growth and partnership.

●Regained Nasdaq Compliance – Soluna has regained compliance with Nasdaq’s continued listing requirements, strengthening our position on the public markets, preserving access to the capital markets, and liquidity for our shareholders.

●Surpassed 4 EH/s of Hash Rate Under Management – With the commissioning of Dorothy 2 and fleet upgrades deployed across all sites, Soluna surpassed 4 EH/s of hash rate under management.

●Surpassed One Gigawatt of Clean Computing Projects – With the addition of Project Gladys (150 MW under development, wind) and Project Fei (100 MW under development, solar), Soluna’s now exceeds 1 GW of renewable-powered computing in operation, construction, and development. This milestone reflects the scalability of Soluna’s behind-the-meter model and marks a major step toward our 2.8 GW long-term roadmap.

●Expanded Partnership with Galaxy Digital – Galaxy is expected to deploy 48 MW at Project Kati 1, bringing the site’s total to 83 MW. This marks Soluna’s largest hosting deployment to date and deepens our institutional partnerships.

●Dorothy 2 Reaches Full Capacity – A 30 MW expansion with a top-tier Bitcoin miner marked the third deployment with this long-standing customer, bringing Project Dorothy 2 to full hosting capacity. Learn more about this milestone here.

●Strong Capital Formation in Q3 – Soluna strengthened its balance sheet with successful capital raises totaling approximately $64 million gross through a combination of equity raises, warrant exercises, project-level equity and debt.

Third Quarter Finance and Operations Highlights:

●Record Level Cash Reserves Strengthen Balance Sheet – Cash increased by $45 million to $60.5 million, bolstering our reserves for future investment opportunities.

●Revenue for the three months increased by 37% or $2.3 million from Q2 2025 to Q3 2025 – driven by new Dorothy 2 customers. Other sites maintained marginal growth in hosting revenue, except for Dorothy 1B, which remained steady.

●Q3 2025 Gross profit increased to 28%, compared to 19% in Q2 2025 – reflecting strong cost discipline and margin stability, in addition to $400k in one-time electricity credits.

○Dorothy 1A and Sophie delivered strong gross margins of 43.6% and 68.4%, respectively.

○Dorothy 1B began a site-level miner fleet upgrade to help improve gross profit.

○Dorothy 2 commenced customer deployments in Q2, with labor costs ramping ahead of revenue, consistent with planned early-stage operations. Q3 saw a major increase in revenue (+$2M) from Q2.

●Net loss for the three months increased from Q3 2024 to Q3 2025 by ($17.7 million) – driven by the fair value adjustment of exercised warrants, related to July equity offering, ($22.0 million), and other financing expenses ($4.7 million), offset by the loss on SLC equipment loan and gain on NYDIG debt agreement reported as a net $10.1 million Gain on debt extinguishment and revaluation.

●Adjusted EBITDA decreased from Q3 2024 to Q3 2025 to ($6.4M) – decreased by $2.9 million from Q3 2024, due to compensation related to 2024 of $1.3 million, and approximately