Soluna Holdings saw revenue growth in the first quarter, but losses widened

Soluna Holdings, a Nasdaq listed company, released its first quarter financial report with revenue of $9.4 million, a year-on-year increase of 58% and the fourth consecutive quarter of month on month growth; The net loss expanded to $179 million, compared to $105 million in the same period last year, due to increased equity incentives, interest, and financing costs; The adjusted EBITDA loss narrowed to $2.1 million.