Soluna Holdings at Water Tower Research: ai push gains ground

On the 23rd of September, 2026, Soluna Holdings (SLNH) showcased its renewable energy-driven business model at the Water Tower Research Virtual Insights Conference. The company, which has a market capitalization of $308 million and a beta of 5.09, is transitioning from Bitcoin hosting to AI and high-performance computing. CEO John Belizaire announced that Soluna is investing in data centers located at renewable generation sites, enabling them to operate behind the meter and avoid the need for new transmission lines.

This approach aims to cut interconnection timelines from several years to around 18 months and minimize power procurement costs by using excess power that would otherwise go to waste. Belizaire stated that Soluna's data centers are meant to support the grid, not burden it, and that the company is targeting "power hiding in plain sight" at generation sites.

With 206 megawatts of Bitcoin mining and hosting capacity currently in operation and a 6.3 gigawatt development pipeline, Soluna expects AI data center revenue to surpass Bitcoin revenue within 18 to 24 months.