Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 257

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 257
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 heavily dependent upon acquisitions and
strategic alliances and our ability to identify, acquire or ally on appropriate terms, and successfully integrate and manage any acquired
companies or alliances will impact our financial condition and operating results.

●We are subject to risks associated with our need for significant
electrical power.

●Global economic and geopolitical events, policies and conflicts
may adversely affect our business, financial condition and results of operations.

●We may not be able to continue to develop our technology and
keep pace with technological developments, or otherwise compete with other companies, many of which have greater resources and experience.

●If we fail to effectively manage our growth, our business, financial
condition, and results of operations could be harmed.

●Our new services and changes to existing services could fail
to attract or retain users or generate revenue and profits, or otherwise adversely affect our business.

●We have concentrated our operations and, thus, are particularly
exposed to changes in the regulatory environment, market conditions and natural disasters in the state of Texas where our data centers
are located.

●Our success depends on external factors affecting the Bitcoin
industry.

●Our profitability depends on Bitcoin prices and the stability of Digital
Asset markets, which are highly volatile and largely unregulated.

15

●Regulatory changes or actions may alter the nature of an investment
in us or restrict the use of cryptocurrencies in a manner that adversely affects our business, prospects, or operations.

●Security breaches and irreversible transactions could result in the loss of our cryptocurrencies.

●Uncertainty around the adoption, use, and global demand for cryptocurrencies
could adversely affect our business. 

●Because most of our and our hosted customers’ miners are
designed specifically to mine Bitcoin and may not be readily adaptable to mining other cryptocurrencies, a sustained decline in Bitcoin’s
value could adversely affect our business and results of operations.

●Our data center business could be harmed by prolonged power
outages, power and fuel shortages, capacity constraints and increases in power costs.

●The Dorothy facility is subject to a five-year ground lease,
and if we are unable to renew its term, we may be unable to fully realize the anticipated benefits of the ongoing development of the
site.

●Our reliance on a third-party pool service provider for our
mining revenue payouts may have a negative impact on our operations. The same may be true in the case of our hosted customers.

●Declining block rewards, reliance on transaction fees, and network forks
could adversely affect our mining operations.

●Climate change and evolving regulations