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

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 25
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 to system disruptions or fail
to deliver expected benefits. If we cannot adapt effectively, our competitiveness and growth prospects could suffer.

Additionally, other North American companies with greater access to low-cost
energy may outcompete us in securing strategic acquisitions or partnerships. If we are unable to expand, innovate, or maintain our position
in the market, it could negatively impact our business, financial condition, and the trading price of our securities.

If we fail to effectively
manage our growth, our business, financial condition, and results of operations could be harmed.

We are an early operating
stage company with a small management team and are subject to the strains of ongoing development and growth, which will place significant
demands on our management and our operational and financial infrastructure. Although we may not grow as we expect, if we fail to manage
our growth effectively or to develop and expand our managerial, operational, and financial resources and systems, our business and financial
results could be materially harmed. 

In addition, our failure
to effectively manage our growth could damage our reputation, further limiting our growth and negatively affecting our operating results.
Further, we cannot provide any assurance that we will successfully identify emerging trends and growth opportunities in this business
sector, and we may lose out on opportunities. Such circumstances could have a material adverse effect on our business, prospects, or operations.

Our new services and
changes to existing services could fail to attract or retain users or generate revenue and profits, or otherwise adversely affect our
business.

Our ability to retain, increase,
and engage our customer base and to increase our revenue depends heavily on our ability to continue to evolve our existing services and
to create successful new services, both independently and in conjunction with developers or other third parties. We may introduce significant
changes to our existing services or acquire or introduce new and unproven services, including using technologies with which we have little
or no prior development or operating experience.  These efforts, including the introduction of new services or changes to existing services, may result in new or
enhanced governmental or regulatory scrutiny, litigation, ethical concerns, or other complications that could adversely affect our business,
reputation, or financial results. If our new services fail to engage users or developers, or if our business plans are unsuccessful, we
may fail to attract or retain users or to generate sufficient revenue, operating margin, or other value to justify our investments, and
our business may be adversely affected.

We
have concentrated our operations and, thus, are particularly exposed to changes