Soluna Holdings, Inc

Unless the context requires otherwise in this Annual Report, the terms SHI, Soluna, the Company, we, us, and our refer to Soluna Holdings, Inc. together with its consolidated subsidiaries, SDI refers to Soluna Digital, Inc. SCI refers to Soluna Computing, Inc., formerly known as EcoChain, Inc., Soluna Cloud or Cloud refer to Soluna Cloud, Inc., and SEI refers to Soluna Energy, Inc. Other trademarks, trade names, and service marks used in this Annual Report are the property of their respective owners. Overview Our mission is to make renewable energy a global superpower by using computing as a catalyst. We develop, own, and operate digital infrastructure for energy-intensive computing applications by colocating data centers with renewable energy power plants. We refer to this model as Renewable Computing . Renewable Computing is designed to address two converging market conditions: increasing curtailment of renewable energy generation and growing demand for power-intensive computing applications, including artificial intelligence ( AI ), high-performance computing ( HPC ), and Bitcoin mining. By locating our data centers near renewable generation assets, we seek to convert underutilized energy into economically productive computing capacity. We utilize two distinct data center designs to serve different computing markets. For our Bitcoin mining and hosting business, we deploy a modular data center design optimized for flexible, large-scale digital asset operations.