Company: SLNH
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001641172-25-005429
Chunk: 29

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: POS AM
Chunk 29
---
,” “could,” “intend,” “target,”
“potential” and other similar words and expressions of the future.

There are a number of important factors that could
cause the actual results to differ materially from those expressed in any forward-looking statement made by us. These factors include,
but are not limited to:

| ● | 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; and                                                    |
| ● | other factors beyond our control.                                                                                                           |

The foregoing does not represent an exhaustive list
of matters that may be covered by the forward-looking statements contained herein and in the documents incorporated by reference herein
or risk factors that we are faced with that may cause our actual results to differ from those anticipated in such forward-looking statements.
The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ
materially from those projected in the forward-looking statements. You should review the factors and risks and other information we describe
in our most recent Annual Report on Form 10-K, as well as any amendments thereto reflected in subsequent reports we will file from time
to time with the SEC.

All forward-looking statements included in this prospectus
and in the documents incorporated by reference in this prospectus are expressly qualified in their entirety by this cautionary note. You
are cautioned to not place undue reliance on any forward-looking statements, which speak only as of the date of this prospectus. You should
read this prospectus, including the financial statements and the notes to the financial statements included herein, completely and with
the understanding that our actual future results may be materially different from what we expect. In light of the significant uncertainties
in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person
that