Earnings call briefSecond-quarter 2026
Soluna Holdings plans to fund large AI builds mainly with project debt
For a 100-megawatt build-out, Chief Financial Officer Michael Picchi said the remaining 20% to 30% would come from Soluna contributions or third-party project equity.
GetSignal Soluna Holdings SLNH
Soluna Holdings said on its second-quarter call that a 100-megawatt build-out, which it estimates at $1.2 billion to $1.3 billion, would target 70% to 80% project-level debt, likely high-yield notes sized against contracted tenant cash flows under the lease.
Picchi said debt and equity formation would be expected within 8 to 12 weeks after a signed lease is announced.
Quotes from the call
“For a 100-megawatt build-out, which we estimate at $1.2 billion to $1.3 billion, we would target 70% to 80% project level debt, likely high-yield notes sized against the contracted tenant cash flows under the lease, with the remaining 20% to 30% from Soluna contributions or third-party project equity.”
Key facts from the call
- Estimated cost of 100-megawatt build-out
- $1.2 billion to $1.3 billion
- Target project-level debt
- 70% to 80%
- Remaining funding
- 20% to 30% from Soluna contributions or third-party project equity
Source: Soluna Holdings' second-quarter 2026 earnings call, August 13, 2026.
Written by GetSignal with AI from the company's earnings call.
Not investment advice.
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