Company: SLNH
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001641172-25-005429
Chunk: 54

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: POS AM
Chunk 54
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 or the registration statement (other than exhibits to such
documents unless such exhibits are specifically incorporated by reference into such documents). Requests for such copies should be directed
to:

<div align='center'>Soluna Holdings, Inc.
325 Washington Avenue Extension
Albany, NY 12205

(518) 218-2550

Attn: Christopher Gandolfo
hello@soluna.io</div>

| 32 |

<div align='center'>Up to 1,935,770 shares of Common Stock

PRELIMINARY PROSPECTUS

, 2025</div>

<div align='center'>PART II

INFORMATION NOT REQUIRED IN PROSPECTUS</div>

Item 13. Other Expenses of Issuance and Distribution.

The following table indicates the expenses to be incurred
in connection with the offering described in this registration statement, other than underwriting discounts and commissions, all of which
will be paid by us. All amounts are estimated except the SEC registration fee.

|                                                     |     | Amount |        |
|:----------------------------------------------------|:----|:-------|-------:|
| Securities and Exchange Commission registration fee |     | $      |  1,713 |
| Accountants’ fees and expenses                      |     | $      | 15,000 |
| Legal fees and expenses                             |     | $      | 15,000 |
| Miscellaneous                                       |     | $      |  2,000 |
| Total Expenses                                      |     | $      | 33,713 |

Item 14. Indemnification of Directors and Officers.

Section 78.138 of the NRS provides that, unless the
corporation’s Articles provide otherwise, a director or officer will not be individually liable unless the presumption that it is
acting in good faith and on an informed basis with a view to the interests of the corporation has been rebutted, and it is proven that
(i) the director’s or officer’s acts or omissions constituted a breach of his or her fiduciary duties, and (ii) such breach
involved intentional misconduct, fraud, or a knowing violation of the law. Our Articles provide that no director or officer shall have
any personal liability to the Company or its stockholders for damages for breach of fiduciary duty as a director or officer, except for
(i) acts that involve intentional misconduct, fraud, or a knowing violation of the law or (ii) the payment of dividends in violation of
Nevada corporate law