Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 140

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 140
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1, 2024, 46,021 restricted stock awards on September 1, 2024, and 43,044 restricted               
 stock awards on December 1, 2024. As of December 31, 2024, Mr. Marusak held 1,640 restricted stock units, 
 136,222 restricted stock awards and 52,977 restricted Series A preferred stock awards.                    |

| (8) | Mr.                                                                                                                                                   
 Michaels was granted 41,176 restricted stock awards of common stock on April 15, 2024, 52,977                                                         
 restricted Series A preferred stock awards on April 15, 2024, 5,981 restricted stock awards                                                           
 on June 1, 2024, 46,021 restricted stock awards on September 1, 2024, and 43,044 restricted                                                           
 stock awards on December 1, 2024 for his service as a Director of the Board. As of December 31, 2024, Mr. Michaels held 1,640 restricted stock units, 
 161,531 restricted stock awards and 52,977 restricted Series A preferred stock awards.                                                                |

| (9) | Mr.                                                                                                      
 Phelan was granted 47,059 restricted stock awards of common stock on April 15, 2024, 185,421             
 restricted Series A preferred stock awards on April 15, 2024, 6,852 restricted stock awards              
 on June 1, 2024, 52,845 restricted stock awards on September 1, 2024, and 49,315 restricted              
 stock awards on December 1, 2024. As of December 31, 2024, Mr. Phelan held 3,240 restricted stock units, 
 157,771 restricted stock awards and 185,421 restricted Series A preferred stock awards                   |

| 85 |

<div align='center'>SELLING HOLDERS</div>

This prospectus covers the resale or other disposition by the Selling Holders identified in the table below of the Offered Securities, consisting of (i) 3,000,000 shares of Common Stock that we may, at our discretion, elect to issue and sell the Investor from time to time after the date of this prospectus, pursuant to the SEPA, (ii) 59,382 Commitment Shares that we issued pursuant to the SEPA, (iii) 140,000 shares of Common Stock issuable