Company: SLNH
Filing Date: 2025-04-25
Form Type: 424B3
Source: 0001641172-25-006194
Chunk: 5

Company: Soluna Holdings, Inc
Filing Date: 2025-04-25
Form: 424B3
Chunk 5
---
 Information” and “Incorporation of Certain Information by Reference”, before
making your investment decision.

You should rely only on the information provided in
this prospectus or in a prospectus supplement or any free writing prospectuses or amendments thereto. Neither we, nor the Selling Holders,
have authorized anyone else to provide you with different information. If anyone provides you with different or inconsistent information,
you should not rely on it. You should assume that the information in this prospectus is accurate only as of the date hereof. Our business,
financial condition, results of operations and prospects may have changed since that date.

Neither we, nor the Selling Holders, are offering
to sell or seeking offers to purchase these securities in any jurisdiction where the offer or sale is not permitted. We have not done
anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose
is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform
themselves about, and observe any restrictions relating to, the offering of the securities as to distribution of the prospectus outside
of the United States.

| ii |

<div align='center'>PROSPECTUS SUMMARY</div>

This summary highlights information contained elsewhere in this prospectus. This summary does not contain all of the information that 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