Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 2940

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 2940
---
1,179  
     517 
  
    SEPA commitment payment 
     275  
     - 
  
    Placement agent release payment 
     1,000  
     - 
  
    Equipment loan converted to equity 
     2,160  
     - 
  
    Noncash disposal of NYDIG collateralized equipment 
     -  
     3,137 
  
    Promissory note and interest conversion to common shares 
     -  
     845 
  
    Interest and penalty settled through repossession of collateralized equipment 
     -  
     1,773 
  
    Noncash non-controlling interest contributions 
     -  
     2,095 
  
    Noncash activity right-of-use assets obtained in exchange for lease obligations 
     146  
     403 
  
    Series B preferred dividend in accrued expense 
     -  
     656 
  
    Noncash note receivable from sale of equipment 
     -  
     240 

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

 F-6 

Notes
to Consolidated Financial Statements

1.Nature
                                            of Operations

Description
of Business

Unless
the context requires otherwise in these notes to the Company’s consolidated financial statements (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. and previously,
“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. 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 scientific computing. This approach aims to create a more
sustainable grid while providing cost-effective and environmentally friendly computing solutions.

Soluna
Holdings, Inc., was originally incorporated in the State of New York in 1961 as Mechanical Technology, Incorporated and reincorporated
in the State of Nevada