Soluna Holdings announces Q2 financial results: revenue of $6.2 million, net loss decreased by $1.4 million year-on-year According to Golden Finance, Soluna Holdings, a Nasdaq listed company that develops green data centers for intensive computing applications such as Bitcoin mining and artificial intelligence, announced its second quarter financial results as of June 30, 2025 Net loss decreased by $1.4 million year-on-year (Q2 2024 compared to Q2 2025) - primarily driven by improvements in revenue, gross profit, and sales and management expenses; However, operating losses increased by $2.9 million, while interest, taxes, and other expenses increased by $1.3 million, partially offset by a revaluation loss of $5.6 million on convertible debt and warrants last year. Adjusted EBITDA decreased by $3 million year-on-year (Q2 2024 compared to Q2 2025), mainly due to the halving of Bitcoin in April 2024 and fluctuations in hash prices (approximately $600000), as well as a decrease in the number of Dorothy 1B machines online and a decrease in efficiency. Professional fees have increased by $200000, including legal fees and compliance costs related to the standby equity purchase agreement. Revenue - Q2 2025 revenue was $6.2 million, a year-on-year decrease of $3.5 million. Four main factors led to the decline: Bitcoin halving and subsequent hash price fluctuations ($2 million), a shift in business model towards more profit sharing (fully offset by a cost reduction of $800000, with no impact on gross profit), reduced self operated mining due to decreased availability and efficiency of mining machines ($600000), and decreased demand response services ($100000, mainly due to increased participation in ERCOT).