Oguz Erkan
Investor, Founder of Capitalist Letters
More signals point to Soluna's next step, possibly a tenant announcement for its Kati 2 site. Robert Bugbee, president of Scorpio Tankers, raised his stake by about 45%, from 9.17 million to 13.34 million shares, per @perspez, or roughly 8.5–9% of the company. The CFO also bought 100,000 shares in the open market, and the CEO said Kati 2 will be energized in 2027. The stock is up 70% in the past month. x.com
Soluna's signals are accumulating: its CFO bought 100,000 shares, it acquired a 300 MW wind farm, and its CEO said it would land an AI/HPC tenant by year end. Dilution fears are overdone; share count now has a hard ceiling of 375 million. Energizing just Kati 2 and Dorothy 3 could generate about $700 million to $750 million in revenue, implying about $7.50 a share even fully diluted at a steady 4x sales multiple. It is still early. x.com
Soluna's pivot to renewable-powered AI infrastructure is working, and its growth projects should close the valuation gap once construction begins. EPS of -$0.24 beat the -$0.62 estimate, its largest beat ever; revenue rose about 59% with data hosting revenue more than doubling, and cash of $86 million eases bear worries. Net losses grew on overhead. Its 350 MW Kati 2 AI campus is in design and Dorothy 3 is advancing. Renaissance raised its stake about 226% and BlackRock about 52%. x.com x.com
Soluna is growing fast, locking in cheap green power and building large AI data centers, though heavy build-out means profits are not here yet. Revenue rose 145% to $15.1M against a $22.6M net loss. It bought the 150MW Briscoe wind farm, signed the Kati 2 AI joint venture, has a 6.3GW power pipeline and holds $113M of cash. The chart shows a potential wedge breakout, with a next target of $1.66. x.com
Soluna Holdings is a terrible long because it is diluting shareholders massively, with about $1 billion of dilution, including an active $500M ATM, against a market cap of roughly $200M. That ATM sells into the open market whenever retail buys, likely diluting buyers toward zero while management touts the bigger balance sheet and awards itself stock compensation. x.com x.com x.com x.com
Soluna Holdings owns the two scarcest inputs in AI infrastructure, renewable power and permitted data-center land, at a market cap far below what its pipeline could be worth. Its 123MW earns about $240,000 per MW a year on Bitcoin hosting, versus $0.5-1M per MW for AI compute. That makes the 100MW Kati 2 worth $50-100M a year and the 300+MW Dorothy 3, next to its newly bought 150MW Briscoe Wind Farm, $150-300M, versus $29.7M of 2025 revenue. Risks: a $57M net loss, share overhang and execution. … Show more
Soluna Holdings is a Hail Mary play worth a small position, as it focuses on putting data centers where the power is, and its CEO seems very smart. x.com
Soluna still lacks credibility, and Digi Power X looks like the better name. Confidence in Soluna's management remains low, and the company has a collection of small, piecemeal sites, most locked into bitcoin hosting and mining. x.com
Soluna Holdings blends data centers with renewable energy, and its AI compute hosting services are scaling rapidly. If the bitcoin and data-center boom continues, strong execution through 2028 could unlock massive upside, though with high volatility. x.com
Soluna Holdings is an amazing setup as it shifts toward green data centers that monetize stranded or curtailed wind and solar power, mainly for Bitcoin mining today and increasingly for AI and high-performance computing. Q1 2026 revenue rose about 58% year over year to $9.4 million from $5.9 million. x.com x.com
Soluna Holdings holders should exit, because almost everything Mike Alfred buys usually drops hard, making his buying exit liquidity. The call responds to a post the author replies to that reports a Soluna position raised to 200,000 shares, with plans to add on further weakness. x.com x.com
C3is trades far below its cash: about $48M on the books against a float of roughly 1.5-2 million shares implies $24-32 a share, yet the stock is near $1.5, and the company is now profitable. It was a dilution machine while acquiring its fleet, but the story looks to be changing. Short interest is 55%, cost to borrow 146%, few shares remain to short, and institutional ownership rose. About 450,000-500,000 warrants at $1.51 and $2.44 remain, making $2.44 the next target. x.com x.com x.com x.com … Show more
