Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 8

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 Generate Common Warrant 
     2,635  
     - 
  
    Warrant consideration in
    relation to convertible notes and revaluation of warrant liability 
     -  
     5,606 
  
    Notes converted to common
    stock 
     -  
     5,877 
  
    Noncash membership distribution
    accrual 
     -  
     741 
  
    Warrant consideration in
    relation to Soluna Cloud 
     -  
     1,440 
  
    Noncash non-controlling
    interest contributions 
     2,675  
     250 
  
    Noncash activity right-of-use
    assets obtained in exchange for lease obligations 
     3,441  
     - 

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

8

Notes
to Condensed Consolidated Financial Statements (Unaudited)

1.
Nature of Operations

Description
of Business

Unless
the context requires otherwise in these notes to the consolidated financial statements, the terms “SHI,” “ the “Company,”
“we,” “us,” and “our” refer to Soluna Holdings, Inc. together with its consolidated subsidiaries,
“SDI” refers to Soluna Digital, Inc., “SCI” refers to Soluna Computing, Inc., formerly known as EcoChain, Inc.,
“Soluna Cloud” or “Cloud” refers to Soluna Cloud, Inc., and “SEI” refers to Soluna Energy, Inc.

Soluna
Holdings, Inc. (“SHI”) is a digital infrastructure company that specializes in transforming surplus renewable energy into
computing resources. The Company’s strategy is to operate modular data centers co-located with wind, solar, and hydroelectric power
plants, supporting compute-intensive applications, including Bitcoin mining, generative AI, and high-performance computing (“HPC”).
This approach aims to create a more sustainable grid while providing cost-effective and environmentally friendly computing solutions.

SHI
was originally incorporated in the State of New York in 1961 as Mechanical Technology, Incorporated and reincorporated in the State of
Nevada on March 24, 2021. On March 23, 2021, SHI’s common stock commenced trading on the Nasdaq Stock Market LLC (“Nasdaq”).
Headquartered in Albany, New York, the Company changed its name from “Mechanical Technology, Incorporated”