# EDGAR Filing Document

**Accession Number:** 0000064463
**File Stem:** 0001493152-25-026774
**Filing Date:** 2025-12
**Character Count:** 11886
**Document Hash:** 2c5fcb59f58f4dd8fa60d0b15fdee459
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-026774.hdr.sgml**: 20251209

**ACCESSION NUMBER**: 0001493152-25-026774

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251209

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251209

**DATE AS OF CHANGE**: 20251209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Soluna Holdings, Inc
- **CENTRAL INDEX KEY:** 0000064463
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 141462255
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40261
- **FILM NUMBER:** 251557630

**BUSINESS ADDRESS:**
- **STREET 1:** 325 WASHINGTON AVENUE EXTENSION
- **CITY:** ALBANY
- **STATE:** NY
- **ZIP:** 12205
- **BUSINESS PHONE:** 518-218-2500

**MAIL ADDRESS:**
- **STREET 1:** 325 WASHINGTON AVENUE EXTENSION
- **CITY:** ALBANY
- **STATE:** NY
- **ZIP:** 12205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MECHANICAL TECHNOLOGY INC
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): December 9, 2025**

**SOLUNA HOLDINGS, INC.**

**(Exact name of Registrant as Specified in Its Charter)**

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-40261** | **14-1462255** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **325 Washington Avenue Extension** |  |
| **Albany, New York** | **12205** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code: (516) 216-9257**

**N/A**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common stock, par value $0.001 per share | SLNH | The Nasdaq Stock Market LLC |
| 9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share | SLNHP | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 7.01 Regulation FD Disclosure.**

On December 9, 2025, Soluna Holdings, Inc. (the "Company") issued a press release containing certain previously unreported corporate and operational information which the Company publishes regularly to its website. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

*The information in Item 7.01 and in Exhibit 99.1 will not be treated as "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. This information will not be incorporated by reference into any filing under the Securities Act of 1933 or into another filing under the Exchange Act, unless that filing expressly incorporates this information by reference*.

**Item 9.01 Financial Statements and Exhibits.**

(d) *Exhibits.*

99.1 [Press Release, dated December 9, 2025](ex99-1.htm) <br>104 Cover Page Interactive Date File (embedded with the Inline XBRL document)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **SOLUNA HOLDINGS, INC.** | **SOLUNA HOLDINGS, INC.** |
| Date: December 9, 2025 | By: | */s/ David C. Michaels* |
|  |  | David C. Michaels |
|  |  | Chief Financial Officer |
|  |  | (principal financial officer) |

---

## Exhibit 99.1

**

**Exhibit 99.1**

 

***Soluna Announces Monthly Business Update***

ALBANY, NY, December 9, 2025 – Soluna Holdings, Inc. ("Soluna" or the "Company") (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, announced its November 2025 project site-level operations, developments, and updates.

The Company has provided the following Corporate and Site Updates.

**Key Company Metrics:** 

The monthly metrics are now available <u>here</u>.

**Corporate Highlights:**

●  **<u>Q3'25 Earnings Released</u>:** Soluna reports strong third-quarter results, including 37% sequential revenue growth, gross profit rising to 28%, and cash reaching a record $60 million.

●  **<u>Dorothy 2 Completed</u>:** Our 48 MW expansion is now fully energized, increasing total operational capacity by 64% to 123 MW at our flagship West Texas campus.

●  **<u>Kati Groundbreaking Video Released</u>:** A new site video captures the momentum behind Project Kati, our 166 MW wind-powered data center now under construction.

●  **<u>Project Kati FAQ Published</u>:** A public-facing resource answering key questions about the project's size, timeline, community benefits, and renewable-energy footprint.

●  **<u>New Blog — *Beyond the Chip War*</u> :** A deep dive into the energy and infrastructure race shaping the next era of AI and high-performance computing.

●  **<u>In the Press</u>:** Soluna featured in Power Mining Analysis, Water Tower Research, Blockspace, KVAQ-TV, the *Rio Grande Valley Business Journal*, and more.

**Key Project Updates:**

 ****

**Project Dorothy 1A (25 MW, Bitcoin Hosting) / Project Dorothy 1B (25 MW, Bitcoin Prop-Mining):**

● D1A continues to operate at a high level, with coordination efforts underway in preparation for the <u>20 MW Canaan</u> deployment expected in Q1-2026.

● D1B had an additional 900 S19 XP miners deployed at the start of November, replacing the current S19J Pro fleet.

**Project Dorothy 2 (48 MW, Bitcoin Hosting):**

● Final construction was completed, and the site has transitioned to operations with all customers fully deployed.

**Project Sophie (25 MW, Bitcoin Hosting):**

● The deployment of a 3.3 MW partnership with KULR was completed at the beginning of November, and the site has remained at full capacity since then.

 

**Project Kati 1 (83 MW Under Construction, Bitcoin Hosting):**

● Installation of the main network is underway in the office, which is fully framed.

● Phase K1A 48 MW Galaxy is progressing, with 12 MW of containers installed and up to 24 MW underway.

● The civil construction Phase K1B 35 MW Soluna MDCs have started, with the MDC concrete pads being poured, allowing the mechanical framing of the buildings to commence.

**Project Kati 2 (83 MW+ Under Development, AI/HPC Hosting):**

● Test fit complete for initial data center design, which can accommodate the latest NVIDIA GPUs.

● Architecture and electrical engineering firms have been identified for concept and detailed design.

● The site has received significant interest from a variety of tenants, including Neocloud and Hyperscalers.

**Project Grace (2 MW at Dorothy 2, Under Development, AI/HPC Hosting):**

● Advanced detailed engineering for Project Grace microgrid electrical design for AI load Integration.

**Pipeline Highlights:**

● Finalizing Power Purchase Agreements (PPA) and Retail Electric Provider (REP) agreements for Projects Ellen and Hedy.

● Work continues on PPA agreements for projects Annie, Gladys, Rosa, and Fei.

**Customer Success:**

● Completed deployment of 48 MW across three new and expanding partnership agreements secured this year at Project Dorothy 2.

● Completed the deployment of 7 MW across two new partnership agreements secured this year at Project Sophie.

View Soluna's recent AMA <u>here</u>.

Soluna's glossary of terms can be found <u>here</u>.

**Safe Harbor Statement**

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include all statements, other than statements of historical fact, regarding our current views and assumptions with respect to future events regarding our business and our expectations with respect to Project Dorothy 1A's 20MW Canaan deployment, and other statements that are predictive in nature. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident," and similar statements. Readers are cautioned that any forward-looking information provided by us or on our behalf is not a guarantee of future performance. Actual results may differ materially from those contained in these forward-looking statements as a result of various factors disclosed in our filings with the Securities and Exchange Commission ("SEC"), including the "Risk Factors" section of our Annual Report on Form 10-K filed with the SEC on March 31, 2025. All forward-looking statements speak only as of the date on which they are made, and we undertake no duty to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except to the extent required by law.

**About Soluna Holdings, Inc. (Nasdaq: SLNH)**

Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna's pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna's proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit <u>solunacomputing.com</u> and follow us on:

LinkedIn: <u>https://www.linkedin.com/company/solunaholdings/</u>

X (formerly Twitter): <u>x.com/solunaholdings</u>

YouTube: <u>youtube.com/c/solunacomputing</u>

Newsletter: <u>bit.ly/solunasubscribe</u>

Resource Center: <u>solunacomputing.com/resources</u>

Soluna regularly posts important information on its website and encourages investors and potential investors to consult the Soluna investor relations and investor resources sections of its website regularly.

**Contact Information**

Public Relations

West of Fairfax for Soluna

<u>Soluna@westof.co</u>

 ****