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SLNH vs WULF
Which Stock Would AI Choose? Soluna Holdings (SLNH) vs. TeraWulf (WULF) Stock Comparison
Key Takeaways
- SLNH and WULF both bridge Bitcoin mining and AI/HPC (high-performance computing) data centers, but operate at sharply different scales, with WULF commanding a multi-billion-dollar market capitalization versus SLNH's micro-cap profile.
- WULF has pivoted decisively toward contracted AI/HPC hosting, securing 522 critical IT megawatts under long-term leases worth over $12.8 billion, while SLNH remains more weighted to Bitcoin mining with an early-stage AI pipeline.
- SLNH delivered roughly $29.7 million in 2025 revenue and strengthened its balance sheet with an $88.8 million cash position, whereas WULF generated about $168.5 million in 2025 revenue but posted substantial net losses tied to warrant and derivative revaluations.
- Relative performance and market positioning differ materially: WULF has attracted broad institutional ownership and analyst coverage, while SLNH trades with elevated volatility and a heavier short-interest footprint.
- Both names carry meaningful risk, including Bitcoin price sensitivity, capital intensity, and execution risk around expanding data-center capacity.
- For more detail on each company's developments, explore SLNH Major News and SLNH Today's Price Move, as well as WULF Major News and WULF Today's Price Move.
- To see how automated strategies are positioning across the market, explore the curated Trending AI Robots.
Introduction
Soluna Holdings (SLNH) and TeraWulf (WULF) both operate at the intersection of cryptocurrency mining and the rapidly expanding market for AI and high-performance computing infrastructure. Yet the two companies represent very different stages of that same narrative. This stock comparison is relevant for traders and investors weighing a small-cap, high-volatility name against a larger, institutionally covered digital-infrastructure platform. Understanding how each company is converting energy-advantaged sites into computing capacity—and how the market is pricing that transition—can help clarify relative performance, risk profiles, and long-term market positioning across two distinct segments of the same theme.
SLNH Overview and Recent Performance
Soluna Holdings designs, develops, and operates digital infrastructure that converts surplus renewable energy into computing resources, supporting applications such as Bitcoin mining, generative AI, and other compute-intensive workloads. Its data centers are co-located with wind, solar, or hydroelectric power, and the company markets its own MaestroOS software for energy management.
In recent market activity, SLNH has been characterized by elevated volatility and a micro-cap valuation. For full-year 2025, the company reported revenue of roughly $29.7 million, down about 21.8% from the prior year, reflecting softer Bitcoin hashprice (the revenue a miner earns per unit of computing power) and lower Bitcoin production. Gross profit remained positive, and the company materially improved its liquidity, ending the period with approximately $88.8 million in total cash after raising about $142 million in capital during the year. Operational milestones have included completing and energizing Project Dorothy 2 and beginning the phased energization of Project Kati 1, while advancing Kati 2 as a planned AI and high-performance computing campus. Sentiment has also been shaped by rising institutional interest, though short interest remains a notable feature of the stock's profile.
WULF Overview and Recent Performance
TeraWulf develops, owns, and operates environmentally sustainable, industrial-scale data-center infrastructure focused on high-performance computing hosting and Bitcoin mining. The company has increasingly positioned itself as an AI/HPC infrastructure platform, with flagship campuses at Lake Mariner in New York and the Abernathy joint venture in Texas.
Recent market activity for WULF reflects this strategic pivot. Full-year 2025 revenue rose roughly 20% to about $168.5 million, including the company's first full year of high-performance computing lease revenue. The company reported a substantial net loss of about $661.4 million, driven largely by non-cash swings in the fair value of warrant and derivative liabilities. On the balance sheet, WULF ended 2025 with approximately $3.7 billion in cash and restricted cash following major debt and convertible-note issuances. The company has secured 522 critical IT megawatts under long-term, credit-enhanced lease agreements representing more than $12.8 billion in contracted revenue, with a multi-regional platform targeting roughly 2.9 gigawatts of gross capacity. Analyst coverage remains broadly constructive, though execution and leverage risk are recurring themes in recent commentary.
Trending AI Robots
For traders who prefer a systematic, data-driven approach, Tickeron's Trending AI Robots page offers a curated view of automated trading strategies. Tickeron hosts hundreds of AI trading bots that trade thousands of different tickers, but only the strategies best suited to current market conditions earn a place in this focused section. These bots span a wide range of trading styles, timeframes, performance records, and statistical profiles, each managing a distinct set of tickers. Because no two bots are alike, the platform highlights the ones demonstrating the strongest relative positioning for the prevailing environment. Reviewing the Trending AI Robots can help you identify automated approaches aligned with your own objectives and risk tolerance.
Head-to-Head Comparison
Although both companies monetize energy-intensive computing, their business models diverge meaningfully. WULF is now fundamentally an AI/HPC leasing business that manages Bitcoin mining opportunistically, anchoring its growth on long-duration, credit-enhanced contracts with hyperscale customers. SLNH remains more dependent on cryptocurrency mining revenue, with AI and high-performance computing still in an earlier, development-stage phase.
Scale is another key contrast. WULF's roughly $168.5 million in annual revenue, multi-billion-dollar cash position, and gigawatt-scale pipeline dwarf SLNH's smaller revenue base and micro-cap valuation. This scale difference translates into very different risk profiles: WULF's growth is capital-intensive and leverage-heavy, while SLNH's smaller size contributes to higher volatility, a lighter institutional footprint, and heavier short interest.
Growth drivers also differ. WULF's momentum is tied to contracted AI/HPC buildouts and hyperscale demand, whereas SLNH's near-term catalysts center on energizing new mining capacity and proving out its AI infrastructure pipeline. In terms of market sentiment, WULF enjoys broader analyst coverage and institutional ownership, while SLNH trades with more speculative positioning. Both stocks remain sensitive to Bitcoin prices, network difficulty, and execution risk in data-center construction.
Tickeron AI Verdict
Based on observable factors such as trend consistency, revenue visibility, and relative positioning, Tickeron's AI would likely favor WULF at present. The company's transition toward contracted, credit-enhanced HPC revenue provides greater durability and institutional support than SLNH's earlier-stage AI pivot and heavier mining dependence. That said, WULF's elevated leverage and capital intensity introduce their own risks, and SLNH's improved liquidity and expanding pipeline could support momentum under more favorable Bitcoin conditions. The assessment is probabilistic rather than definitive, reflecting the trade-off between WULF's stronger trend consistency and SLNH's higher-beta, more speculative profile.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is SLNH is a StrongBuy and WULF is a Buy.
SLNH's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for SLNH turned positive on October 28, 2026. Looking at past instances where SLNH's MACD turned positive, the stock continued to rise in 37 of 42 cases over the following month. The odds of a continued upward trend are 88%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where SLNH's RSI Oscillator exited the oversold zone, 35 of 41 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 85%.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +19.04% 3-day Advance, the price is estimated to grow further. Considering data from situations where SLNH advanced for three days, in 180 of 209 cases, the price rose further within the following month. The odds of a continued upward trend are 86%.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on November 10, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on SLNH as a result. In 88 of 93 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 90%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SLNH declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 90%.
The Aroon Indicator for SLNH entered a downward trend on November 10, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of 1 (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.806) is normal, around the industry mean (3.120). P/E Ratio (-0.751) is within average values for comparable stocks, (6.734). Projected Growth (PEG Ratio) (0.060) is also within normal values, averaging (0.809). SLNH has a moderately high Dividend Yield (71.429) as compared to the industry average of (8.976). P/S Ratio (2.083) is also within normal values, averaging (16.899).
The Tickeron PE Growth Rating for this company is 8 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 94 (best 1 - 100 worst), indicating slightly worse than average price growth. SLNH’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 99 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SLNH’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock worse than average.
WULF's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for WULF turned positive on November 06, 2026. Looking at past instances where WULF's MACD turned positive, the stock continued to rise in 49 of 52 cases over the following month. The odds of a continued upward trend are 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where WULF's RSI Indicator exited the oversold zone, 20 of 25 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 80%.
Following a +7.92% 3-day Advance, the price is estimated to grow further. Considering data from situations where WULF advanced for three days, in 247 of 271 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
WULF may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
The Momentum Indicator moved below the 0 level on November 10, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on WULF as a result. In 80 of 86 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 90%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where WULF declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 89%.
The Aroon Indicator for WULF entered a downward trend on November 11, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 12 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 76 (best 1 - 100 worst), indicating slightly worse than average price growth. WULF’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 96 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: WULF's P/B Ratio (38.519) is very high in comparison to the industry average of (3.120). P/E Ratio (-2.549) is within average values for comparable stocks, (6.734). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (0.809). Dividend Yield (0.000) settles around the average of (8.976) among similar stocks. P/S Ratio (40.323) is also within normal values, averaging (16.899).
The Tickeron SMR rating for this company is 100 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. WULF’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock worse than average.
SLNH | WULF | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 53 | 32 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 1 Undervalued | 96 Overvalued | |
PROFIT vs RISK RATING 1..100 | 100 | 100 | |
SMR RATING 1..100 | 99 | 100 | |
PRICE GROWTH RATING 1..100 | 94 | 76 | |
P/E GROWTH RATING 1..100 | 8 | 12 | |
SEASONALITY SCORE 1..100 | n/a | 50 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
SLNH's Valuation (1) in the null industry is significantly better than the same rating for WULF (96). This means that SLNH’s stock grew significantly faster than WULF’s over the last 12 months.
SLNH's Profit vs Risk Rating (100) in the null industry is in the same range as WULF (100). This means that SLNH’s stock grew similarly to WULF’s over the last 12 months.
SLNH's SMR Rating (99) in the null industry is in the same range as WULF (100). This means that SLNH’s stock grew similarly to WULF’s over the last 12 months.
WULF's Price Growth Rating (76) in the null industry is in the same range as SLNH (94). This means that WULF’s stock grew similarly to SLNH’s over the last 12 months.
SLNH's P/E Growth Rating (8) in the null industry is in the same range as WULF (12). This means that SLNH’s stock grew similarly to WULF’s over the last 12 months.
| SLNH | WULF | |
|---|---|---|
| RSI ODDS (%) | 2 days ago 85% | 1 day ago 80% |
| Stochastic ODDS (%) | 2 days ago 88% | 1 day ago 90% |
| Momentum ODDS (%) | 2 days ago 90% | 1 day ago 90% |
| MACD ODDS (%) | 2 days ago 88% | 1 day ago 90% |
| TrendWeek ODDS (%) | 2 days ago 90% | 1 day ago 90% |
| TrendMonth ODDS (%) | 2 days ago 90% | 1 day ago 90% |
| Advances ODDS (%) | 3 days ago 86% | 1 day ago 90% |
| Declines ODDS (%) | 7 days ago 90% | 7 days ago 89% |
| BollingerBands ODDS (%) | N/A | 1 day ago 87% |
| Aroon ODDS (%) | 2 days ago 90% | 1 day ago 90% |
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
SLNH’s FA Score shows that 2 FA rating(s) are green while WULF’s FA Score has 1 green FA rating(s).
- SLNH’s FA Score: 2 green, 3 red.
- WULF’s FA Score: 1 green, 4 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
SLNH’s TA Score shows that 4 TA indicator(s) are bullish while WULF’s TA Score has 4 bullish TA indicator(s).
- SLNH’s TA Score: 4 bullish, 3 bearish.
- WULF’s TA Score: 4 bullish, 4 bearish.
Price Growth
SLNH (@Investment Banks/Brokers) experienced а -7.99% price change this week, while WULF (@Investment Banks/Brokers) price change was +14.19% for the same time period.
The average weekly price growth across all stocks in the @Investment Banks/Brokers industry was -3.40%. For the same industry, the average monthly price growth was -18.39%, and the average quarterly price growth was -23.03%.
Reported Earning Dates
SLNH is expected to report earnings on Nov 13, 2026.
WULF is expected to report earnings on Feb 26, 2027.
Industries' Descriptions
@Investment Banks/Brokers (-3.40% weekly)These banks specialize in underwriting (helping companies with debt financing or equity issuances), IPOs, facilitating mergers and other corporate reorganizations and acting as a broker or financial advisor for institutions. They might also trade securities on their own accounts. Investment banks potentially thrive on expanding its network of clients, since that could help them increase profits. Goldman Sachs, Morgan Stanley and CME Group Inc are some of the largest investment banking companies.
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