Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 255

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 255
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 |        | — |     |          |      — |     |        | — |     |              |         — |     |        | — |     |            |       — |   |     |                     | —        |   |     |                |      — |     |        | —       |   |     |             | (1,204 | ) |     |                     | (1,204 | ) |
| September 30, 2024                          |     |                 | 4,953,545 |     | $      | 5 |     |          | 62,500 |     | $      | — |     |              | 7,690,219 |     | $      | 8 |     | $          | 308,947 |   |     | $                   | (274,287 | ) |     |                | 40,741 |     | $      | (13,798 | ) |     | $           | 30,720 |   |     | $                   | 51,595 |   |
| Balance                                     |     |                 | 4,953,545 |     | $      | 5 |     |          | 62,500 |     | $      | — |     |              | 7,690,219 |     | $      | 8 |     | $          | 308,947 |   |     | $                   | (274,287 | ) |     |                | 40,741 |     | $      | (13,798 | ) |     | $           | 30,720 |   |     | $                   | 51,595 |   |

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

| F-54 |

<div align='center'>Soluna Holdings, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Unaudited)

For the Nine Months Ended September 30, 2024 and 2023</div>

| (Dollars in thousands)                                                                      |     |                            2024 |         |   |     | 2023 |         |   |
|                                                                                             |     | Nine Months Ended September 30, |         |   |     |      |         |   |
| (Dollars in thousands)                                                                      |     |                            2024 |         |   |     | 2023 |         |   |
| Operating Activities                                                                        |