RIOT vs SLNH

Riot Platforms, Inc. vs Soluna Holdings, Inc. — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — SLNH scores higher on quality with 5.9/10 vs RIOT's 5.6/10. RIOT trades at $27.32 while SLNH trades at $1.65. Both analyzed daily using SEC EDGAR data across 13 institutional models.

RIOT

Capital Markets
Riot Platforms, Inc.
Quality
5.6
out of 10
Value Trap
18
SAFE
Price
$27.32
Last close
Models
13/13
Active
VS

SLNH

Capital Markets
Soluna Holdings, Inc.
Quality
5.9
out of 10
Value Trap
24
SAFE
Price
$1.65
Last close
Models
11/13
Active
RIOT
2 models active
Limited to 2/13 visible models
SLNH
Earnings Power Value sees +171.4% upside
Limited to 2/13 visible models

RIOT vs SLNH — Fair Value Comparison

RIOT
$0$11$21$32 Price$27.32 Bayesian …$9.20 (-66.3%) Earnings …$4.27 (-76.9%)
SLNH
$0$2$3$5 Price$1.65 Bayesian …$0.42 (-74.6%) Earnings …$4.29 (+171.4%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType RIOT Fair ValueRIOT Upside SLNH Fair ValueSLNH Upside
Bayesian DCF Intrinsic $9.20 -66.3% $0.42 -74.6%
Earnings Power Value Intrinsic $4.27 -76.9% $4.29 +171.4%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
Markov DDM Intrinsic $•••.•• ••.•% $•••.•• ••.•%
ML-RIV Intrinsic $•••.•• ••.•% $•••.•• ••.•%
Dynamic NAV Asset-Based $•••.•• ••.•% $•••.•• ••.•%
PWERM Option-Based $•••.•• ••.•% $•••.•• ••.•%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
FTNN Topology Relative $•••.•• ••.•% $•••.•• ••.•%
RCMH-DCF Intrinsic $•••.•• ••.•% $•••.•• ••.•%

RIOT vs SLNH — Which Stock Is More Undervalued in 2026?

SLNH scores higher with a 5.9/10 quality rating vs RIOT's 5.6/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do RIOT and SLNH Valuations Compare?

At $27.32, RIOT trades +66.3% above its Bayesian DCF fair value of $9.20, while SLNH at $1.65 trades +74.6% above its estimate of $0.42. SLNH shows a wider gap between price and intrinsic value.

Quality of Company: RIOT vs SLNH

RIOT earns a Quality of Company score of 5.6/10 compared to SLNH's 5.9/10. The scores are closely matched, indicating similar fundamental quality profiles. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: RIOT vs SLNH

RIOT carries a SAFE value trap risk (18/100) while SLNH shows SAFE risk (24/100). Both companies show manageable value trap risk, suggesting their current valuations are not artificially depressed by fundamental deterioration.

Both in Capital Markets

Both RIOT and SLNH operate in Capital Markets, which has 86 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

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