Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 0

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 0
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Unless the context requires otherwise in this Annual Report, the terms
“SHI,” “Soluna,” the “Company,” “we,” “us,” and “our” refer to
Soluna Holdings, Inc. together with its consolidated subsidiaries, “SDI” refers to Soluna Digital, Inc. “SCI”
refers to Soluna Computing, Inc., formerly known as EcoChain, Inc., “Soluna Cloud” or “Cloud” refer to Soluna
Cloud, Inc., and “SEI” refers to Soluna Energy, Inc. Other trademarks, trade names, and service marks used in this Annual
Report are the property of their respective owners.

Overview

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 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 and scalable design
supports high-throughput, batchable applications such as AI, Bitcoin, and—soon—HPC workloads. These facilities are managed
by MaestroOS™, our proprietary operating system (“MaestroOS”), which continuously analyzes signals like local
power pricing, weather, grid demand, and market conditions to optimize performance and economics.

This
intelligent orchestration enables long-term asset monetization and attractive returns on invested capital.

Our
approach is purpose-built for the energy transition. We specialize in curtailment solutions, working closely with leading renewable energy
developers to access underutilized, low-cost power. Our behind-the-meter model allows us to draw energy directly from the plant or the
grid, while also providing demand response services—reducing costs and enhancing grid resilience.

A
key strategic advantage is our model of co-locating data centers directly with renewable power generation assets. By building behind
the meter, we are able to bypass long interconnection queues and source electricity directly from the generation site. This structure
not only improves power economics, but also acceler