Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 6

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 6
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 resulting
in an installed hashrate of approximately 1.03 EH/s and achieved a PUE of 1.03.

Our
Growth Strategy

Our
growth strategy is focused on expanding our pipeline of renewable energy-powered data center projects and accelerating their development
through joint ventures, co-ownership structures, and other strategic partnerships. Over time, we intend to increase our ownership stake
in these projects to enhance long-term value.

We
believe our renewable energy project pipeline—currently estimated at over 2.6 gigawatts (GW)—represents our most valuable
strategic asset. We believe this pipeline has the potential to support the development of approximately 300 to 400 MW of
new digital infrastructure annually over the next six to eight years.

In
parallel with new project development, we are refining our operational model across existing sites to position ourselves as a partner
of choice for both AI/HPC colocation and Bitcoin Hosting.

We
continue to grow our pipeline by increasing the number of Curtailment Assessments completed with power generation partners. These assessments
serve as a precursor to securing exclusive power purchase agreements (PPAs), acquiring or leasing land, and executing other pre-construction
development activities necessary to advance projects to shovel-ready status.

10

In
2025, we are focused on advancing the following key initiatives:

●Power
                                            Pipeline Expansion – We plan to scale our operational footprint by energizing D2
                                            and commencing construction of the 83 MW Bitcoin Hosting phase of Project Kati. Together,
                                            these projects are expected to advance our path toward over 200 MW of operational capacity
                                            under management.

●AI
                                            Infrastructure Development – We aim to form joint ventures with leading U.S. data
                                            center developers, including top global infrastructure funds and hyperscaler-aligned development
                                            and financing partners. Our initial efforts will focus on launching the 83 MW AI phase of
                                            Project Kati, with the goal of establishing our first portfolio of advanced data centers
                                            purpose-built for AI workloads.

●Project
                                            Optimization – We continue to prioritize improvements in profitability, operational
                                            efficiency, customer mix, and satisfaction across our existing data centers. Our goal is
                                            to drive consistent execution and deliver best-in-class performance for our customers using
                                            a new service model called Relentless Stewardship.

●Capital
                                            Formation – We plan to pursue targeted capital-raising initiatives to support both
                                            near-term project development and long-term growth across our platform.

Project