Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 898

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 898
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We
lease approximately 3,478 square feet of office, in Albany, New York, which houses the corporate offices of SHI. The current lease agreement
expires on December 31, 2027.

On
March 4, 2021, SSW acquired a 3.2-acre tract of real property located in Murray, Kentucky on which it has built an energy-efficient cryptocurrency
mining facility, Project Sophie, that includes 22 buildings for data facility hosting or mining.

On
February 24, 2023, DVSV entered into a lease agreement for a 33.19-acre tract of land in Silverton, Texas. The agreement has an initial
five-year term with the right to extend the term of the agreement for five additional one-year terms.

We
believe these facilities are generally well-maintained and adequate for the Company’s current needs and for expansion, if required.
Our business growth, however, is dependent on developing additional properties, and we believe our project pipeline is strong enough
to support our current business plan.

Item
3: Legal Proceedings

At
any point in time, we may be involved in various lawsuits or other legal proceedings. Such lawsuits could arise from the sale of products
or services or from other matters relating to our regular business activities, compliance with various governmental regulations and requirements,
or other transactions or circumstances.

On
December 29, 2022, NYDIG filed a complaint against Borrower, a subsidiary of Soluna MC, LLC, a subsidiary of Soluna Digital, a
subsidiary of the Company, and Guarantor in Marshall Circuit Court of the Commonwealth of Kentucky regarding the NYDIG Loans made by
NYDIG to Borrower pursuant to the MEFA that were secured by certain assets of Borrower and guaranteed by Guarantor pursuant to a
written guaranty agreement executed by Guarantor. On February 23, 2023, NYDIG proceeded to foreclose on all of the collateral
securing the MEFA and repossessed the collateralized assets. Subsequently, NYDIG filed its Motion for Summary Judgment seeking
entry of a judgment against the NYDIG Defendants in the approximate amount of $10.3 million, and NYDIG and the NYDIG Defendants
consensually resolved the motion in the form of a Stipulation and Agreed Judgment, which the Court approved on February 23,
2024.

On
March 13, 2024, NYDIG served the NYDIG Defendants with a post-judgment