SLNH

Soluna Holdings Inc

NASDAQ: SLNH · FINANCIAL SERVICES · CAPITAL MARKETS

$1.78

-10.96% today

Updated 2026-06-05

Market cap

$221.63M

P/E ratio

—

P/S ratio

6.68x

EPS (TTM)

$-1.41

Dividend yield

—

52W range

$0 – $5

Volume

21.0M

Market cap

$221.63M

P/E ratio

—

P/S ratio

6.68x

EPS (TTM)

$-1.41

Dividend yield

—

52W range

$0 – $5

Volume

21.0M

Soluna Holdings Inc (SLNH) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

SLNH · Soluna Holdings Inc · Price target summary

Current

$1.78

Consensus

$5.00

+180.90%

2030 Target

—

DCF

—

Current price

$1.78

Analyst consensus

$5.00

+180.90%

2030 Target

—

Intrinsic (DCF)

—

2 analysts:

1 Buy0 Hold1 Sell

Management guidance

CEO John Belizaire has guided toward a 4.3 GW pipeline as of Q4 2025, with strategic focus on vertical integration through the $53M Briscoe Wind Farm acquisition and AI/HPC hosting expansion. Management targets scaling to 300+ MW of AI compute capacity, but has not provided explicit revenue guidance through 2030. The company is transitioning from cryptocurrency mining to AI infrastructure hosting, which carries higher revenue potential per MW.

Sources: Management guidance, analyst consensus, sector analysismedium confidence

SLNH · Soluna Holdings Inc · Revenue & price projection · 2023–2030E

Actual revenue Projected revenue Base case Bull to bear range

Bear case (2030)

$1.83

—

Base case (2030)

$2.93

—

Bull case (2030)

$4.76

—

WallStSmart.com

Financial forecast — research-backed

Metric	2025	2026 (E)	2027 (E)
Revenue	$0.0B	$0.1B	$0.1B
Revenue growth	-21.8%	130.5%	83.6%
EPS	$-2.68	$-0.62	$-0.45
P/S ratio	—	3.0x	3.0x
Implied price	—	$1.65	$2.93

SLNH · Soluna Holdings Inc · Catalysts & risks

Growth catalysts

+ Project Kati 1 & 2 energization (83 MW+ AI/HPC capacity deployment)

+ Project Dorothy vertical integration and expansion (3 MW Sazmining partnership, 17+ MW Blockware capacity)

+ Briscoe Wind Farm monetization driving 150 MW owned power for AI campus

+ AI/HPC hosting margin expansion vs. lower-margin Bitcoin mining

+ 4.3 GW project pipeline conversion to operational revenue

Key risks

- Massive share dilution risk: 26.51M+ shares registered for resale creating supply overhang

- Deeply negative profitability: -179.7% profit margin, -$2.38 EPS TTM, $57M net loss in 2025

- Revenue volatility: -21.84% YoY decline in 2025 after +80.49% in 2024, indicating execution risk

- Capital intensity: $28M capex in Q4 2025 alone requires continuous financing; company dependent on equity raises

- Competitive AI infrastructure market with entrenched players (AWS, Microsoft, Meta building captive capacity)

- Regulatory/energy policy risk affecting renewable energy economics and Bitcoin mining viability

Methodology

Soluna Holdings Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 2 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 9, 2026.