# EDGAR Filing Document

**Accession Number:** 0000064463
**File Stem:** 0001641172-25-018517
**Filing Date:** 2025-7
**Character Count:** 13046
**Document Hash:** 1818d562ce9f220cda282de9a69e3b68
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-018517.hdr.sgml**: 20250710

**ACCESSION NUMBER**: 0001641172-25-018517

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250710

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250710

**DATE AS OF CHANGE**: 20250710

**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:** 251114828

**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): July 10, 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 July 10, 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 July 10, 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: July 10, 2025 | By: | */s/ John Tunison* |
|  |  | John Tunison |
|  |  | Chief Financial Officer |
|  |  | (principal financial officer) |

---

## Exhibit 99.1

**Exhibit 99.1**

***Soluna Announces Monthly Business Update***

Expansions at Dorothy 2, and Long Term Power Pipeline Swells to 2.8 GW

ALBANY, NY, July 10, 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 June 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:**

● **$20M Secured from Spring Lane Capital to Launch Project Kati 1** – New Construction begins Q3 2025. Spring Lane to support up to $100M across Soluna's pipeline. Learn more <u>here</u>.

● **Blockware Partnership Expands Over 50% at Project Dorothy 2 –** Now totaling 8 MW of sustainable hosting capacity. Read more <u>here</u>.

● **Compass Mining Renews and Expands into Project Dorothy 2 –** Long-term partnership now spans 13 MW across the Dorothy campus. Read more <u>here</u>.

● **Soluna Featured in *Inside Climate News*** - CEO John Belizaire speaks with Arcelia Martin on using stranded renewables to power the future of computing. Read the article <u>here</u>.

● **CEO Featured on *The Blockware Podcast –*** John Belizaire on Bitcoin's green future, infrastructure growth, and the trillion-dollar tsunami ahead. Watch it <u>here</u>.

● **CEO Interviewed on *Scaling Clean –*** A deep dive into Soluna's model, the convergence of computing and clean energy, and building with communities in mind. Listen <u>here</u>.

● **New Blog -** Explores the risks of deep-sea mining for battery materials and positions Soluna's computing model as a scalable alternative. Read it <u>here</u>.

● **Power Pipeline Grows –** Up to 2.8 GW of Long-Term Capacity

**Key Project Updates:**

 ****

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

● The site has continued to navigate through extreme heat conditions, operating at greater than 90% uptime.

● Filter replacement is underway to assist with airflow optimization.

● Fleet upgrade underway for two hosting customers to drive increases in hashrate.

● A review is underway at Project Dorothy 1B with our JV partner to upgrade aging miners and enhance hashrate performance.

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

● The three build phases (16 MW, 14 MW, and 18 MW) are all tracking on schedule.

● Additional temporary support has been onboarded to complete the deployment of miners for Phase 1 by next week.

● Power commissioning has started for Phase 2 (14 MW) and is expected to be completed by the end of the month in advance of the planned substantial completion date of early August.

● We are in the process of receiving miners for Phase 2 and deploying them as power commissioning efforts are completed.

**Project Sophie (25 MW, Bitcoin Hosting with Profit Share, AI Hosting):**

● The fleet expansion for an existing customer was completed, and the site has maintained steady state operations throughout the month.

**Project Kati (166 MW Under Development, Bitcoin Hosting and AI):**

● ERCOT has completed modeling for Phase 1 (83 MW), which reached its Production Load Date on July 2, 2025.

● Contracting for Kati 1 (83 MW) construction of Bitcoin Hosting is underway, and mobilization timing is in the process of being finalized. The project is expected to be constructed in at least two phases, <u>including a 35 MW phase.</u> 

**Pipeline Highlights:**

● Development activities have launched on Projects Hedy, Ellen, and Annie, with progress across PPA negotiations, ERCOT planning, and land acquisition.

● The long-term pipeline increased by 200 MW, now reaching 2.8 GW, driven by new curtailment assessments and active term sheet discussions.

● A project scoring system is being developed to assess AI hosting potential across the portfolio.

**Customer Success:**

● Completed contract for partnership <u>expansion at Dorothy 2 for 30 MW</u>. This marks the third expansion with this customer, who first deployed with Soluna at Project Sophie in 2023.

● Completed contract renewal and expansion with Compass Mining. The expanded agreement includes a contract renewal at Soluna's Project Dorothy 1 site and a major expansion into its adjacent site, Project Dorothy 2, marking a total deployment of approximately 13 megawatts (MW) of computing capacity across the two locations.

● Completed hosting expansion agreement with Blockware. Following their initial 5 megawatt (MW) deployment in April, Blockware is adding 3 MW of hosting capacity at Soluna's Project Dorothy 2 data center in Texas, bringing their total contracted footprint at the site to 8 MW.

● All Project Dorothy 2 pipeline contracting completed for 2025; 48 MWs fully marketed and at full hosting capacity, both with brand new customers and current partner expansions.

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 the completion of Project Dorothy 2 and Project Kati, 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>