The Obs€rver

Ex CEO, Current: Sales Manager responsible for 7 countries. 20+years active in the stockmarket. My Tweets are my personal views and should not be seen as advice

[Mike Alfred @mikealfred]

Never waste a dip. Took SLNH position up to 200,000 shares. Will look to add on any further weakness.

[The Bitcoin Historian @pete_rizzo_]

JUST IN: $13 BILLION IREN BOARD MEMBER MIKE ALFRED JUST SAID THERE’S NO CHANCE #BITCOIN DOESN’T GO TO $1 MILLION

THE MOMENT BTC GOES PARABOLIC, “EVERYONE WILL FORGET” THIS" DIP

“LONG-TERM THINKERS” WILL BE REWARDED

MATTER OF TIME 🚀

[The Obs€rver @RverObs]

@HyGrowth You Said similar just below 2s... no one knows where we are headed!

[The Obs€rver @RverObs]

$SLNH lets get that turnaround and price everyone wrong!! Pump!!

[The Obs€rver @RverObs]

@SolunaHoldings @jbelizaireCEO we appreciate all you do and the podcasts you attend to update us shareholders, but we are all awaiting to see if you can get us a deal signed! $SLNH

[The Obs€rver @RverObs]

@mikealfred Mike, are you adding anything to your $SLNH position or just keeping it as it is?

[Perspez @perspez]

$slnh @SolunaHoldings Kati 2 is not just a 100MW AI/HPC site.

If management’s roadmap to 300MW+ and eventually 1000MW+ becomes credible to customers, the implied commercial opportunity could be measured in billions.

Using a simple illustrative AI/HPC revenue range of $2M–$3M per MW per year:

• 100MW = $200M–$300M annual revenue run-rate
• 300MW = $600M–$900M annual revenue run-rate
• 1000MW = $2.0B–$3.0B annual revenue run-rate

Solunas market cap today = $290 M

Now, the target customer profile is now very explicit:

“For large-scale computing, Soluna would like to secure a hyperscaler, such as Google, Meta, Amazon, or Microsoft, or a Neocloud provider, including CoreWeave, Nebius, Crusoe, Lambda, or Tensorwave.”

That matters because Soluna is not talking about small experimental AI workloads.

They are targeting the same customer categories driving the current AI infrastructure boom: hyperscalers and neoclouds.

The scale is also much bigger than a single 100MW site:

“We are marketing Kati 2 as an initial 100MW critical IT load site in Phase I, readily expandable to 300+ MW in Phase II. For potential customers, we’ve laid out a roadmap showing Kati 2 expandable to 1000+ MWs.”

That 1000MW+ roadmap is the key detail.

It means Soluna is showing potential customers a pathway toward gigawatt-scale AI/HPC infrastructure, not just a one-off 100MW project.

The customer interest is also real enough to be in active diligence:

“We received Indications of Interest for Kati 2 capacity. Those interested parties are conducting due diligence on the power, build-out schedule, and fit with their needs.”

The initial contract target is clear:

“The target MW for an initial contract is 100 MW of Critical IT load.”

And the timeline is very interesting:

“From the contract date, the site will be constructed and powered up within 15 months.”

Soluna also added:

“A new contract won in the next few months would make the project operational before the end of 2027.”

[IRA Investor @InvestorIra]

$SLNH upped the MW for Kati 2 to 1000 MW instead of 300 MW.. Guessing they have huge interest from Hyperscalers wanting a LOI for that Site

[The Obs€rver @RverObs]

$SLNH , did I hear SQUEEZE potential?

[RStacker @RaberTrades]

$SLNH short interest is 40% 😈

Time to squeeze the shorts? 🩳 🔥

[The Obs€rver @RverObs]

RT @ripster47: 🚨US-IRAN DRAFT AGREEMENT REACHED VIA PAKISTAN MEDIATION, EXPECTED TO BE ANNOUNCED IN NEXT FEW HOURS

[Mike Alfred @mikealfred]

@PierR36676906 @marcuslemonis I'm having dinner with the SLNH CEO and CFO in July. This is a long game. If you're in a rush, you won't be successful.

[The Obs€rver @RverObs]

$SLNH

[John Belizaire @jbelizaireCEO]

Dorothy 1A and Dorothy 1B are both now 100% owned by @SolunaHoldings.

Today we announced the acquisition of D1B from Navitas Global completing 4-yrs Joint Venture in the Bitcoin Hosting space.

We not begin our new drive to Dorothy 3 AI.

We Keep Pushin'

$SLNH

[The Obs€rver @RverObs]

$SLNH , Soluna, the push is real! Lets get those deals signed @jbelizaireCEO 🥇🥳

[John Belizaire @jbelizaireCEO]

Correct.

We. Keep. Pushin'

$SLNH @SolunaHoldings

[The Obs€rver @RverObs]

@HyGrowth Lets go!

[The Obs€rver @RverObs]

@cidman00 Lets Hope so!!

[The Obs€rver @RverObs]

@sunxliao Me neither bro! Been long since 1,27!

[The Obs€rver @RverObs]

$SLNH

[Hunter Allen @HunterAllen4]

Don’t miss the next $IREN 4.0

Up 155% past month.
Still down 71% past 5 years.

THIS IS A HIGH-RISK AI INFRASTRUCTURE RE-RATING PLAY EARLY IN THE TRANSITION.

I give you $SLNH

DONT MISS

REPOST. BOOKMARK. CHECK BACK IN 5 YEARS

A 50$ STOCK SITTING BELOW 2.50

EARNINGS TOMORROW MAY 15 maybe

Charts ready for 3-3.5-6
KEEP EYES

BITCOIN MINER → AI + HPC RENEWABLE DATA CENTER PIVOT

~$200–250M market cap
~$76–89M cash position
~123 MW energized compute capacity
4.3+ GW total power pipeline
~150 MW Briscoe wind acquisition completed
~300 MW+ AI campus plans at Dorothy 3
~300 MW+ AI/HPC expansion potential at Kati 2

THIS IS THE TYPE OF SETUP WALL STREET CHASES LATER.

That’s the misunderstanding.

Soluna is building behind-the-meter renewable-powered AI infrastructure designed around stranded energy.

Translation:

They place modular data centers directly beside excess wind/solar power that would otherwise be wasted.

CHEAPER POWER.
FASTER DEPLOYMENT.
NO MASSIVE GRID BOTTLENECKS.

That matters because AI demand is exploding and power availability is becoming the entire game.

Legacy BTC hosting is becoming the bridge revenue stream.

The real story now:

AI + HPC + hyperscaler infrastructure.

Why the market is paying attention:

~4.3 GW pipeline expanded 54% YoY
~Operating capacity doubled in 2025
~Q4 revenue growth re-accelerating
~$20–24M incremental annual revenue expected from Briscoe acquisition alone
~Potential $6–11M EBITDA contribution Year 1 from Briscoe
~83 MW Kati 1 ramp progressing
~Cormint deployment + commissioning underway
~Galaxy Digital operating 48 MW segment
~Metrobloks JV targeting 100+ MW AI deployment
~Hyperscaler + NeoCloud due diligence reportedly active

THIS IS WHERE THE STORY STARTS CHANGING.

The model is simple:

Use Bitcoin hosting today to monetize stranded renewable power…
Then transition those campuses into higher-margin AI/HPC infrastructure over time.

Very similar narrative path to:
$IREN $CORZ $CLSK

But way earlier.
Way smaller.
Way more speculative.

Recent catalysts:

▪︎ Dorothy 3 AI campus development
▪︎ Kati 2 hyperscale AI expansion
▪︎ Siemens AI/grid management partnership
▪︎ Briscoe vertical integration acquisition
▪︎ Growing AI/HPC infrastructure positioning
▪︎ BTC hosting expansion agreements
▪︎ Renewable AI infrastructure narrative heating up

And here’s the important part:

AI electricity demand is NOT slowing down.

Global power demand rose ~17% tied to AI/data center growth while traditional grids struggle to keep up.

Power is becoming the bottleneck of the AI era.

Soluna’s advantage:

Behind-the-meter renewable infrastructure.
Modular deployments.
Fast energization timelines.
Low-cost wind-powered compute.

That’s why this name keeps getting compared to $IREN.

If Soluna successfully converts even a fraction of that 4.3 GW pipeline into AI/HPC infrastructure…

This tiny micro-cap could look completely different in 2–3 years.
- dilution is high risk just know we’re early

Near-term things to watch:

▪︎ Q2/Q3 AI customer announcements
▪︎ Kati 2 updates
▪︎ Dorothy 3 development milestones
▪︎ Financing/JV structures
▪︎ Additional hyperscaler interest
▪︎ AI hosting agreements
▪︎ Pipeline conversion progress
▪︎ EBITDA inflection

And renewable-powered compute may become one of the most valuable assets of the next cycle.

$SLNH is early.

That’s the opportunity.

$NVDA $AMD $SMCI $ANET $VST $CEG $FSLR $NBIS $IREN $CORZ $VOO $DGXX $KEEL $AMD $OKLO $CRWV $ENPH $FSLR $CBRS

[The Obs€rver @RverObs]

$SLNH Exciting times to be a shareholder of Soluna!

[Soluna @SolunaHoldings]

Project Kati 1 continues ramping.

K1A: 48 MW with Galaxy remains in steady operations.

K1B: Cormint containers installed, mechanical completion achieved, power commissioning underway. Construction of the remaining phases of the Soluna MDCs remains on schedule.

83 MW of behind-the-meter Bitcoin hosting infrastructure, on track.

$SLNH

[The Obs€rver @RverObs]

$SLNH more and more see what we already anticipated! Riding the waves!

[McNallie Money @McnallieM]

$3.40 🎯🎯🎯 $SLNH

[McNallie Money @McnallieM]

“We keep pushing” @SolunaHoldings 🙌🙌🙌 $SLNH