U.S. green data center developer's Q2 revenue grew 145% yr/yr, its fifth straight quarterly increase
Gross profit declined, impacted by Briscoe maintenance and ramp costs at Kati 1
Company completed vertical integration at Project Dorothy 1, expanding control over generation and compute
Outlook and pipeline
Soluna says it is expanding AI and data center capacity, with a pipeline now at 6.3 GW
Company is converting existing sites to AI workloads and advancing the Dorothy 3 campus
Soluna did not provide specific financial guidance for the current qtr or full yr
Result drivers and key details
Site expansion - Revenue growth driven by contributions from Dorothy 2, Kati 1A ramp, and Briscoe's first quarter under ownership
Cost pressures - Gross profit impacted by Briscoe maintenance costs, Kati 1 ramp costs, and depreciation ahead of full revenue contribution
AI pipeline growth - Expanded development pipeline to 6.3 GW, with major capacity growth across AI sites and new projects dedicated to AI and HPC workloads
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