Company: SLNH
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001641172-25-005429
Chunk: 8

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: POS AM
Chunk 8
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 you should consider before deciding to invest in our securities. You should read this entire prospectus carefully, including the section entitled “Risk Factors” beginning on page 14 of this prospectus, the financial statements and related notes and the other more detailed information appearing elsewhere or incorporated by reference into this prospectus before investing in any of the securities described in this prospectus.

Our Business

Our mission is to make renewable energy a global superpower
using computing as a catalyst.

We develop and operate digital infrastructure that
taps into a growing global opportunity: the convergence of renewable energy and High-Performance Computing (“HPC”). We call
this model Renewable Computing™.

Across the world, vast amounts of clean energy go
to waste due to curtailment. At the same time, there is a critical shortage of power for energy-intensive infrastructure like artificial
intelligence (“AI”), HPC, and Bitcoin mining. Renewable Computing™ bridges this gap-unlocking stranded renewable energy
and turning it into scalable computing power.

We build, own or co-own, and operate data centers
co-located with wind, solar, and hydroelectric plants. Our modular and scalable design supports high-throughput, batchable applications
such as AI, Bitcoin, and-soon-HPC workloads. These facilities are managed by MaestroOS™, our proprietary operating system
(“MaestroOS”), which continuously analyzes signals like local power pricing, weather, grid demand, and market conditions to
optimize performance and economics.

This intelligent orchestration enables long-term asset
monetization and attractive returns on invested capital. Our approach is purpose-built for the energy transition. We specialize in curtailment
solutions, working closely with leading renewable energy developers to access underutilized, low-cost power. Our behind-the-meter model
allows us to draw energy directly from the plant or the grid, while also providing demand response services-reducing costs and enhancing
grid resilience.

A key strategic advantage is our model of co-locating
data centers directly with renewable power generation assets. By building behind the meter, we are able to bypass long interconnection
queues and source electricity directly from the generation site. This structure not only improves power economics, but also accelerates
time-to-market-an increasingly important factor for companies with large, time-sensitive computing workloads such as AI and HPC.

With a repeatable strategy and a growing pipeline
of projects, we are scaling a new category of digital infrastructure-one that energizes the grid, lowers computing costs, and advances