# EDGAR Filing Document

**Accession Number:** 0000064463
**File Stem:** 0001493152-26-014800
**Filing Date:** 2026-4
**Character Count:** 15864
**Document Hash:** 11cf603645dd42d86683b090a3ac45f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-014800.hdr.sgml**: 20260402

**ACCESSION NUMBER**: 0001493152-26-014800

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260402

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260402

**DATE AS OF CHANGE**: 20260402

**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:** 26830625

**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): April 2, 2026**

**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:**

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| | | |
|:---|:---|:---|
| **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 April 2, 2026, Soluna Holdings, Inc. issued a press release announcing that it has closed the acquisition of the 150 MW Briscoe Wind Farm in West Texas for a total funded cost of $53.0 million. 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 (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, as amended, or into another filing under the Exchange Act, unless that filing expressly incorporates this information by reference*.

**Item 9.01. Financial Statements and Exhibits.**

**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release, dated April 2, 2026.](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within 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: April 2, 2026 | By: | */s/ Michael Picchi* |
|  |  | Michael Picchi |
|  |  | Chief Financial Officer |
|  |  | (principal financial officer) |

---

## Exhibit 99.1

**Exhibit 99.1**

**Soluna Closes $53M Briscoe Wind Farm Acquisition; Achieves Vertical Integration**

$6–$11M Year-One Projected EBITDA \| 300 MW AI Campus Expansion at Project Dorothy

**ALBANY, NY, April 2, 2026** — Soluna Holdings, Inc. ("Soluna" or the "Company") (NASDAQ: SLNH), a developer of green data centers that converts renewable energy into computing power, today announced that it has closed the acquisition of the 150 MW Briscoe Wind Farm in West Texas for a total purchase price of **$53.0 million**. The transaction was financed through cash on the balance sheet and debt.

The acquisition is expected to be **immediately accretive**, with projected Year-One Adjusted EBITDA of $6 million to $11 million and annualized revenue of $20 million to $24.4 million. With this acquisition, Soluna achieves **full vertical integration** for Project Dorothy, owning both the renewable energy source and the data center infrastructure it powers. The closing positions the Company to unlock development of **Project Dorothy 3, a planned renewable-powered AI campus** expansion on 300 new acres adjacent to the existing site with potential capacity of up to **300 MW+**.

---

| | |
|:---|:---|
| **TRANSACTION HIGHLIGHTS** | **TRANSACTION HIGHLIGHTS** |
| **Asset Acquired** | 150 MW Briscoe Wind Farm, West Texas (GE Vernova Turbines, ERCOT Interconnection) |
| **Purchase Price** | $53.0 Million |
| **Financing Structure** | $12.5M Debt (Generate Capital) + Cash (balance sheet) |
| **Year-One Adj. EBITDA** | $6 Million – $11 Million |
| **Annualized Revenue** | $20.0 Million – $24.4 Million |
| **Strategic Outcome** | Full Vertical Integration — Soluna now owns the power, land, and compute at Project Dorothy |
| **Growth Catalyst** | Dorothy 3: potential 300 MW+ Renewable-Powered AI Campus on 300 New Acres Adjacent to Dorothy 1 & 2 |

---

**Immediate Financial Accretion**

The acquisition is expected to provide immediate and significant cash flow. For the first twelve months of ownership, the wind farm is projected to have an earnings power of between **$6 million and $11 million in Adjusted EBITDA**, depending on prevailing power market conditions. Annualized revenue contribution is projected at **$20.0 million to $24.4 million**.

"This closing is a transformative step in Soluna's evolution," said **John Belizaire, CEO of Soluna**.

**Vertical Integration: From Energy Consumer to Energy Producer**

Energy availability remains the primary constraint in scaling AI and high-performance computing infrastructure. By acquiring the dedicated wind-generation asset behind Project Dorothy, Soluna secures long-term energy certainty, eliminates reliance on third-party power purchase agreements (PPAs), and creates a durable cost advantage.

**Dorothy 3: 300 MW Renewable-Powered AI Campus**

With full ownership of the power source secured, Soluna expects to advance development of **Dorothy 3** on a new 300-acre land parcel adjacent to Dorothy 1 and Dorothy 2. Dorothy 3 is planned as a renewable-powered AI compute campus with potential capacity of up to **300 MW**, and is being designed to serve high-performance computing and generative AI workloads. The 300MW expansion is expected to result from continued development of grid interconnection expansion and onsite generation.

**Asset Overview**

---

| | |
|:---|:---|
| **Attribute** | **Detail** |
| **Capacity** | 150 MW |
| **Turbine Technology** | GE Vernova 1.85-87 Turbines |
| **Grid Connection** | ERCOT substation and grid interconnection |
| **Transaction Structure** | 100% of the equity interests of the wind farm operating entity |
| **Location** | West Texas, co-located with the Project Dorothy campus |

---

**Generate Capital** ("Generate") continues to support Soluna in connection with this acquisition. Their participation underscores institutional confidence in Soluna's vertically integrated strategy and long-term growth trajectory.

Following this milestone, Soluna expects to continue pursuing opportunities to vertically integrate additional project sites where appropriate. The Company's development pipeline exceeds **4.3 GW** across multiple sites, **including the recently energized 83 MW Project Kati 1, the 300+ MW Project Kati 2 AI campus** in its joint venture with <u>Metrobloks</u>, and additional greenfield opportunities.

Soluna was advised by Norton Rose Fulbright (legal), Lowenstein Sandler LLP (legal), O'Melveny & Myers LLP (energy regulatory), Leo Berwick (financial and tax due diligence), Leidos (power market analysis), IMA (insurance), Verdonck Partners (financial advisory), Jed Brawley (strategic consulting), CAMS eSPARC, LLC (environmental), and DNV GL (technical and engineering). Generate was advised by Vinson & Elkins LLP.

Soluna expects to file a Current Report on Form 8 K with the Securities and Exchange Commission that will contain a more complete description of the terms of the acquisition and the related agreements. The summary information in this press release is qualified in its entirety by the full text of such agreements, which will be filed as exhibits to the Form 8 K.

For more information on the acquisition, including an investor presentation and FAQ, visit Soluna's Investor Center at <u>www.solunacomputing.com/investors</u>. More on Project Dorothy and Soluna's data center projects is available at <u>www.solunacomputing.com</u>.

**Safe Harbor Statement by Soluna**

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, our expectations with respect to the anticipated development of Project Dorothy 3, the expected financial contribution of the Briscoe Wind Farm acquisition, including projected Year-One Adjusted EBITDA and annualized revenue, the expected opportunities to vertically integrate additional project sites, 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. Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and Soluna undertakes no duty or obligation to update such information, except as required under applicable law.

**Non-GAAP Measures**

In addition to figures prepared in accordance with generally accepted accounting principles ("GAAP"), Soluna from time to time may present alternative non-GAAP performance measures, e.g., EBITDA, adjusted EBITDA, adjusted net profit/loss, adjusted earnings per share, free cash flow, both on a company basis and on a project-level basis, among others. EBITDA is defined as earnings before interest, taxes, and depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted for stock-based compensation costs, provision for credit losses, loss on sale of fixed assets and credit on equipment deposit, provision for credit losses, impairment on fixed assets, fair value adjustment loss (gain), fair value on placement agent warrants financing fee, and loss (gain) on debt extinguishment and revaluation, net. Projected Year-One Adjusted EBITDA is a non-GAAP financial measure; however, Soluna cannot predict with certainty the magnitude or scope of certain items that would be included in the most directly comparable GAAP measure for the relevant future periods, and such items may be significant. Due to these uncertainties, Soluna cannot provide a quantitative reconciliation of projected Year-One Adjusted EBITDA to the most directly comparable GAAP financial measure without unreasonable effort. The impact of differences in projected Year-One Adjusted EBITDA and annualized revenue contributions from those estimates provided in this press release could have a material impact on the business's overall operating results. Project-level measures may not take into account a full allocation of corporate expenses. These measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. Alternative performance measures are not subject to GAAP or any other generally accepted accounting principles. Other companies may define these terms differently. See our annual report on Form 10-K for the year ended December 31, 2024, for an explanation of how management uses these measures in evaluating its operations. Investors should review the non-GAAP reconciliation included in the Company's periodic filings with the SEC and should not rely on any single financial measure to evaluate the Company's business.

**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 solunacomputing.com and follow us on:

● LinkedIn: https://www.linkedin.com/company/solunaholdings/

● X (formerly Twitter): x.com/solunaholdings

● YouTube: youtube.com/c/solunacomputing

● Newsletter: bit.ly/solunasubscribe

● Resource Center: solunacomputing.com/resources

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

**Contact**

Public Relations

West of Fairfax for Soluna

Soluna@westof.co