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SOLAI Limited Announces Unaudited Financial Results for the Three Months Ended March 31, 2026

SLAI
  • SOLAI Limited reported unaudited financial results for the three months ended March 31, 2026, announcing a strategic shift toward personal AI infrastructure with the launch of Solode Neo in April.
  • Total revenues reached US$7.9 million, an increase of US$1.3 million year-over-year from US$6.6 million, primarily driven by a US$3.3 million revenue boost from the new 55 megawatt data center in Ethiopia.
  • Revenue composition included US$7.7 million from the data center business (US$4.4 million from Ohio 82.5 MW facility and US$3.3 million from Ethiopia) and US$0.2 million from self-mining operations, which saw DOGE/LTC mining halted due to depressed prices.
  • Operating costs and expenses totaled US$13.4 million, a decrease of US$3.1 million from the previous quarter, largely due to reduced electricity costs in Ohio and lower impairment charges compared to Q4 2025.
  • The company recorded an operating loss of US$6.8 million and a net loss attributable to SOLAI of US$6.7 million, both representing significant improvements over the US$8.1 million and US$7.9 million losses reported in the same period of 2025.
  • Non-GAAP adjusted operating loss was US$6.5 million, while non-GAAP adjusted net loss attributable to SOLAI was US$6.3 million for the quarter.
  • Loss per American Depositary Share (ADS) was US$0.36, with non-GAAP adjusted loss per ADS at US$0.34.
  • As of March 31, 2026, the company held US$2.0 million in cash and cash equivalents and US$3.8 million in cryptocurrency assets, including 3.2 BTC, 169 ETH, 0.03 million SOL, and 0.3 million USDT.
  • The company's total BTC mining hash rate capacity in operation was approximately 271.1 PH/s, producing 2.4 BTC during the quarter.
  • Significant non-cash adjustments impacting the financials included a US$1.9 million negative change in the fair value of cryptocurrency assets and the absence of impairment charges for property and equipment or intangible assets that were present in Q4 2025.