Soluna Names Michael Picchi as Chief Financial Officer

Soluna Holdings (Soluna) has appointed Michael Picchi as Chief Financial Officer and Treasurer, effective 1 April 2026, as the company continues to expand its portfolio of renewable-powered data centres for intensive computing workloads.

The Nasdaq-listed developer specialises in behind-the-meter data centres co-located with renewable energy generation, a model designed to convert surplus clean power into computing capacity for applications including AI and Bitcoin mining. 

Michael will lead Soluna’s finance organisation and support its capital strategy as the company scales this approach across new sites.

David Michaels, who has served as Interim Chief Financial Officer and Treasurer since August 2025, will remain in the role through 31 March 2026 and continue as a member of Soluna’s Board of Directors.

Supporting expansion of green data centres

Soluna’s strategy centres on integrating data centre infrastructure directly with renewable generation assets, reducing exposure to grid congestion and power price volatility. 

As demand for high-density computing grows, particularly from AI workloads, the company is positioning its facilities to deliver scalable capacity while maintaining a focus on energy efficiency and sustainability.

The appointment of a permanent CFO comes as Soluna looks to balance project delivery with disciplined capital deployment. This includes funding new sites, managing construction risk and supporting long-term growth while maintaining financial controls across a growing portfolio of assets.

“Mike is a proven finance leader with deep experience across capital formation, strategic transactions and operational scale,” says John Belizaire, CEO of Soluna.

“With increasing focus on sustainable computing powered by renewable energy, we are building for the long term. Mike’s background will be a strong asset as we execute our strategy and advance our next phase of growth.”

Experience across data centres and infrastructure

Michael Picchi joins Soluna from TECFusions, where he served as Chief Financial Officer and Chief Accounting Officer from February 2024.

TECFusions is a data centre developer and operator focused on sustainable, high-density AI infrastructure, giving Michael direct experience in the financial and operational challenges associated with modern data centre builds.

Across more than 30 years in senior finance roles, Michael has worked in both public and private companies, supporting growth through equity and debt financing, mergers and acquisitions and complex operating environments.

His background spans infrastructure, energy-adjacent businesses and manufacturing, providing a broad perspective on capital-intensive operations.

Before TECFusions, Michael was Chief Financial Officer of GCX, a medical cart device manufacturer, from April 2022 to January 2024. He also served as CFO at East West Manufacturing between October 2017 and April 2022 and previously held the CFO role at demand response company Comverge from February 2006 to July 2011.

Capital discipline as AI demand rises

As AI workloads place increasing pressure on power availability and cost, data centre developers are reassessing how facilities are financed, built and operated. Soluna’s behind-the-meter model is intended to reduce reliance on traditional grid connections by aligning compute demand with renewable generation output.

“I’m excited to join Soluna at a pivotal moment for both the Company and the broader market,” says Michael.

“Soluna’s model is compelling: co-locating digital infrastructure with renewable generation to turn surplus clean energy into valuable computing resources. I look forward to partnering with the team to support disciplined scaling and the capital strategy needed to execute.”

His remit will include overseeing financial planning, capital allocation and investor engagement as Soluna expands its data centre footprint. This will be particularly relevant as the company targets opportunities where renewable energy projects can support new compute capacity without adding strain to regional grids.

As Soluna develops additional sites and evaluates new projects, the company is aligning its leadership team to support growth while maintaining financial discipline across its data centre portfolio.