Company: SLNH
Filing Date: 2025-06-16
Form Type: S-1/A
Source: 0001641172-25-015179
Chunk: 8

Company: Soluna Holdings, Inc
Filing Date: 2025-06-16
Form: S-1/A
Chunk 8
---
 our use or display of other companies’ trade names or trademarks to imply a relationship
with, or endorsement or sponsorship of us by, any other company.

<div align='center'>ii

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS</div>

This prospectus and the documents incorporated
by reference in this prospectus, contain, and our officers and representatives may from time to time make, forward-looking statements
that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terms such as “may,”
“will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,”
“target,” “project,” “estimate,” “believe,” “estimate,” “predict,”
“potential” or “continue” or the negative of these terms or other similar expressions intended to identify statements
about the future. These statements speak only as of the date of this prospectus and involve known and unknown risks, uncertainties and
other important factors that may cause our actual results, performance or achievements to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements. We have based these forward-looking statements largely
on our current expectations and projections about future events and financial trends that we believe may affect our business, financial
condition and results of operations. These forward-looking statements include, without limitation, statements about the following:

| ● | the availability of financing opportunities, risks associated with economic conditions, dependence on management and conflicts of interest;                                                                                                                                                                                                                                                                                                                                          |
| ● | the ability to service debt obligations and maintain flexibility in respect of debt covenants;                                                                                                                                                                                                                                                                                                                                                                                       |
| ● | economic dependence on regulated terms of service and electricity rates;                                                                                                                                                                                                                                                                                                                                                                                                             |
| ● | the speculative and competitive nature of the technology sector;                                                                                                                                                                                                                                                                                                                                                                                                                     |
| ● | our ability to attract and retain hosted customers for our hosting operations;                                                                                                                                                                                                                                                                                                                                                                                                       |
| ● | dependency in continued growth in blockchain and cryptocurrency usage;                                                                                                                                                                                                                                                                                                                                                                                                               |
| ● | lawsuits and other legal proceedings and challenges;                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | conflict of interests with directors and management;                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | government regulations;                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| ● | our ability to construct and complete the anticipated expansion of our data centers;                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | the impact of global economic and market conditions and political developments on our business, including, among others, tariffs, rising inflation and capital