Episode Details

We sit down with Soluna CEO John Belizaire right after earnings and a major wind farm acquisition to unpack what changed in the business and what comes next. We press on cash flow durability, capital raises, and why Soluna thinks power-aligned infrastructure is the path from Bitcoin volatility to AI-scale growth.

• FY2025 highlights, cash growth and how hash price pressure shows up in results 
• Why low-cost power and scale help customers stay profitable in weak Bitcoin markets 
• How Soluna thinks about ROI across Bitcoin mining, hosting and AI data centers 
• Q1 2026 progress across Kati 1 ramp, partners and team additions 
• Briscoe Wind Farm acquisition, vertical integration and the “convergence” strategy 
• How owning generation creates flexibility, curtailment hedges and revenue diversification 
• The three Bitcoin models: self-mining, fixed power margin and profit share 
• Kati 2 and MetroBlocks, tenant demand, campus design and grid stability plans 
• Project Grace as an R&D pilot and how it may fold into Dorothy 3 
• Dilution concerns, the $1B shelf filing context and project-level financing expectations 
• Near-term catalysts, AI pipeline maturation and a coming rebrand toward AI infrastructure 

Let us know in the comments section below if you're currently holding shares of Soluna and what you thought about their most recent results!

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