Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 22

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 22
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 ownership arrangements we may not be
responsible for the operation of projects and will rely on our joint venture. joint owner or strategic partner counterparties for such
services. Joint ventures, joint ownership and strategic partnership arrangements may also require us to expend additional internal resources
that could otherwise be directed to other projects. If we are unable to successfully execute and manage our existing and any proposed
joint venture and joint owner arrangements, it could adversely impact our financial and operating results. Our inability to successfully
execute and manage our joint venture/joint owner/strategic partner arrangements could also significantly impact our expansion strategy
as we are heavily dependent on these arrangements to finance the expansion of our operations.

We may not be able to timely complete our future
strategic growth initiatives or within our anticipated costs estimates, if at all.

Our strategic growth initiatives may require construction,
expansion or conversion of associated power facilities, which may expose us to significant risks that we may otherwise not be exposed
to, including risks related to: construction delays; lack of availability of parts and/or labor; increased prices as a result, in part,
of inflation, and delays for data center equipment; labor disputes and work stoppages, including interruptions in work due to pandemics
or other public health crises; unanticipated environmental issues and geological problems; delays related to permitting and approvals
to commence operations from public agencies and utility companies; delays in site readiness leading to our failure to meet commitments
made in connection with such expansion; and delay or halts related to evaluations of strategic growth initiatives.

20

All construction-related projects depend on the skill,
experience, and attentiveness of our personnel throughout the design and construction process. Should a designer, general contractor,
subcontractor or key supplier experience financial difficulties or other problems during the design or construction process, we could
experience significant delays, increased costs to complete the project and/or other negative impacts to our expected returns.

If we are unable to mitigate these risks and complete
our growth initiatives on schedule and within our anticipated costs, such delays or implementation failures may hinder our ability to
realize anticipated benefits, and our business and financial condition may suffer as a result.

We may have difficulty in obtaining banking
services for our cryptocurrency activities.

While the banking authorities in the United States
do not prohibit banks from providing banking services to cryptocurrency-related businesses such us, the Federal Reserve, the FDIC, and
the Office of the Comptroller of the Currency have issued directives to banks in the United States relating to their crypto-asset risks