Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 164

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 164
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     |      |        - |   |
| Noncash non-controlling interest contributions                                                                                 |     |                    |       - |   |     |      |        - |   |
| Noncash                                                                                                                        
 activity right-of use assets obtained in exchange for lease obligations                                                        |     |                    |     403 |   |     |      |       20 |   |
| Promissory                                                                                                                     
 note conversion to common or preferred shares                                                                                  |     |                    |     845 |   |     |      |   15,236 |   |
| Noncash                                                                                                                        
 proceed on sale of equipment                                                                                                   |     |                    |     240 |   |     |      |      210 |   |
| Series                                                                                                                         
 B preferred dividend prefunded warrant and common stock issuance                                                               |     |                    |     656 |   |     |      |        - |   |
| Noncash                                                                                                                        
 equipment financing                                                                                                            |     |                    |       - |   |     |      |    4,620 |   |
| Proceed                                                                                                                        
 receivable from sale of MTI Instruments                                                                                        |     |                    |       - |   |     |      |      295 |   |

The accompanying notes are an integral part of these consolidated financial statements.

| F-7 |

Notes to Consolidated Financial Statements

1. Nature of Operations

Description of Business

Unless the context requires otherwise in these notes to the consolidated financial statements, the terms “SHI,” the “Company,” “we,” “us,” and “our” refer to Soluna Holdings, Inc. together with its consolidated subsidiaries, “SCI” refers to Soluna Computing, Inc, formerly known as EcoChain, Inc., and “MTI Instruments” refers to MTI Instruments, Inc..

Soluna Holdings, Inc., formerly known as Mechanical Technology, Incorporated was incorporated in Nevada on March 24, 2021, and is the successor to Mechanical Technology, Inc., which was incorporated in the State of New York in 1961, as a result of a merger which became effective on March 29, 2021, and is headquartered in Albany, New York. Effective November 2, 2021, the Company changed its name from “Mechanical Technology, Incorporated” to “Soluna Holdings, Inc.”

The Company is a digital infrastructure company specializing in transforming surplus renewable energy into computing resources. Our modular data centers can co-locate with wind, solar, or hydroelectric power plants and support compute intensive