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Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<div><ul><li>Soluna recently announced that it has acquired full ownership of Project Dorothy 1B for $8.8 million. </li><li>The transaction gives Soluna complete equity ownership of D1B, located in Silverton, Texas, and marks the next step in the company’s consolidation of equity ownership across the Dorothy campus, following the $53-million acquisition of the Briscoe Wind Farm and the $16.5-million acquisition of Project Dorothy 1A earlier this year.</li><li>Soluna has secured the full generation-to-compute ownership chain of 50 MW at Project Dorothy 1. </li></ul></div>

Soluna recently announced that it has acquired full ownership of Project Dorothy 1B for $8.8 million. The transaction gives Soluna complete equity ownership of D1B, located in Silverton, Texas, and marks the next step in the company’s consolidation of equity ownership across the Dorothy campus, following the $53-million acquisition of the Briscoe Wind Farm and the $16.5-million acquisition of Project Dorothy 1A earlier this year.Soluna has secured the full generation-to-compute ownership chain of 50 MW at Project Dorothy 1. 

SLNH: Acquires Full Ownership of Project Dorothy 1B

<div><ul><li>Soluna recently announced its 1Q26 earnings, with revenue up 58% Y/Y and a fourth consecutive quarter of sequential revenue growth. </li><li>The company’s long-term 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 US.</li><li>Operationally, performance diverged across specific sites as the company ramped up new infrastructure. </li></ul></div>

Soluna recently announced its 1Q26 earnings, with revenue up 58% Y/Y and a fourth consecutive quarter of sequential revenue growth. The company’s long-term 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 US.Operationally, performance diverged across specific sites as the company ramped up new infrastructure. 

SLNH: 1Q26 Revenue Up 58% Y/Y; Kati 1A and 2 Progressing Well

<div><ul><li>Soluna announced the acquisition of the remainder of Project Dorothy 1A it did not already own for $16.5 million. </li><li>Soluna remains a digital infrastructure developer focused on energy-intensive computing and AI data centers.</li><li>While the acquisition adds energy ownership for better cost and scalability, it serves as a strategic foundation rather than a shift in its core business identity.</li></ul></div>

Soluna announced the acquisition of the remainder of Project Dorothy 1A it did not already own for $16.5 million. Soluna remains a digital infrastructure developer focused on energy-intensive computing and AI data centers.While the acquisition adds energy ownership for better cost and scalability, it serves as a strategic foundation rather than a shift in its core business identity.

SLNH: Acquires Full Ownership of Project Dorothy 1A; Accelerating Vertical Integration and AI DCs

<ul><li>Soluna announced the acquisition of the Briscoe Wind Farm, the 150-MW wind asset in West Texas that already powers Project Dorothy, the company’s flagship compute campus. </li><li>Soluna remains a digital infrastructure developer focused on energy-intensive computing and AI data centers.</li><li>While the acquisition adds energy ownership for better cost and scalability, it serves as a strategic foundation rather than a shift in its core business identity.</li></ul>

Soluna announced the acquisition of the Briscoe Wind Farm, the 150-MW wind asset in West Texas that already powers Project Dorothy, the company’s flagship compute campus. Soluna remains a digital infrastructure developer focused on energy-intensive computing and AI data centers.While the acquisition adds energy ownership for better cost and scalability, it serves as a strategic foundation rather than a shift in its core business identity.

SLNH: Acquires 150-MW Briscoe Wind Farm - 2 April 2026

<div><ul><li>Soluna recently announced its FY25 earnings, with record revenue and a solid $90-million cash position and two new project-level financing partners. </li><li>The company’s 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.</li><li>Despite a challenging Bitcoin environment and lower hashprice, 4Q25 revenue grew 9% sequentially to $9.2 million due to operational expansion and increased volume from the Dorothy 2 project.</li></ul></div>

Soluna recently announced its FY25 earnings, with record revenue and a solid $90-million cash position and two new project-level financing partners. The company’s 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.Despite a challenging Bitcoin environment and lower hashprice, 4Q25 revenue grew 9% sequentially to $9.2 million due to operational expansion and increased volume from the Dorothy 2 project.

SLNH: 2025 Results Show Record Growth as Pipeline Hits 4.3 GW

United States

Soluna Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, builds, owns, and operates modular data centers that eliminate wasted energy and deliver revenue to renewable energy producers. Soluna Holdings serves customers worldwide.

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Soluna Holdings (SLNH US)

SLNH: Acquires Full Ownership of Project Dorothy 1B

The transaction gives Soluna complete equity ownership of D1B, located in Silverton, Texas, and marks the next step in the company’s consolidation...

Water Tower Research

SLNH: 1Q26 Revenue Up 58% Y/Y; Kati 1A and 2 Progressing Well

Soluna recently announced its 1Q26 earnings, with revenue up 58% Y/Y and a fourth consecutive quarter of sequential revenue growth.

Water Tower Research

SLNH: Acquires Full Ownership of Project Dorothy 1A; Accelerating Vertical Integration and AI DCs

While the acquisition adds energy ownership for better cost and scalability, it serves as a strategic foundation rather than a shift in its core...

Water Tower Research

SLNH: Acquires 150-MW Briscoe Wind Farm - 2 April 2026

Soluna announced the acquisition of the Briscoe Wind Farm, the 150-MW wind asset in West Texas that already powers Project Dorothy, the company’s...

Water Tower Research

SLNH: 2025 Results Show Record Growth as Pipeline Hits 4.3 GW

Soluna recently announced its FY25 earnings, with record revenue and a solid $90-million cash position and two new project-level financing partners.

Water Tower Research

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