Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 164

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 164
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 per common share (1):                    |     |            |           |   |     |      |          |   |
| Net loss from continuing operations attributable to Soluna Holdings, Inc.  
 per share (Basic & Diluted)                                                |     |          $ |    (27.79 | ) |     |    $ |  (187.63 | ) |
| Net income from discontinued operations per share (Basic & Diluted)        |     |          $ |         - |   |     |    $ |    13.22 |   |
| Basic & Diluted loss per share                                             |     |          $ |    (27.79 | ) |     |    $ |  (174.41 | ) |
| Weighted average shares outstanding (Basic and Diluted)                    |     |            | 1,313,718 |   |     |      |  599,301 |   |

| (1) | Prior                                                                                                                                 
 period results have been adjusted to reflect the Reverse Stock Split of the Common Stock at a ratio of 1-for-25 that became effective 
 October 13, 2023. See Note 2, “Accounting Policies,” for details.                                                                     |

The accompanying notes are an integral part of these consolidated financial statements.

| F-5 |

<div align='center'>Soluna Holdings, Inc. and Subsidiaries

Consolidated Statements of Changes in Equity

For the Years Ended December 31, 2023 and 2022</div>

(Dollars in thousands, except per share)

|                                                          |     | Series    
 A         
 Shares    
 Preferred 
 Stock     
 Series    
 A         
 Shares    |           |     | Amount 
 Amount |   |     | Series 
 B      
 Shares 
 Series 
 B      
 Shares |        |     | Amount 
 Amount |   |     | Shares 
 (1)    
 Common 
 Stock  
 Shares 
 (1)    |           |     | Amount 
 (1)    
 Amount 
 (1)    |   |     |   |     | Additional  
 Paid-in     
 Capital (1) 
 Additional  
 Paid-in     
 Capital (1) |         |   |     | Accumulated 
 Deficit     
 Accumulated 
 Deficit     |          |   |     | Shares   
 (1)      
 Treasury 
 Stock    
 Shares   
 (1)      |        |     | Amount 
 Amount |         |   |     | Non-Controlling 
 Interest        
 Non-Controlling 
 Interest        |