分组1 - Soluna Holdings, Inc. reported a quarterly loss of $0.7 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.61, but an improvement from a loss of $1.29 per share a year ago, indicating a -14.75% earnings surprise [1] - Mechanical Technology posted revenues of $8.42 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 6.5%, and showing an increase from $7.53 million year-over-year [2] - The stock of Mechanical Technology has underperformed, losing about 11.9% since the beginning of the year compared to the S&P 500's gain of 14.6% [3] 分组2 - The earnings outlook for Mechanical Technology is mixed, with the current consensus EPS estimate for the coming quarter at -$0.62 on revenues of $10.4 million, and -$2.35 on revenues of $32.1 million for the current fiscal year [7] - The Zacks Industry Rank indicates that the Technology Services sector is in the top 27% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8] - GDS Holdings, another company in the same industry, is expected to report a quarterly loss of $0.06 per share, reflecting a year-over-year change of +62.5%, with revenues anticipated to be $403.99 million, down 4.4% from the previous year [9][10]

Financial Performance - Total revenue for the nine months ended September 30, 2025, was $20,510,000, down 30.9% from $29,749,000 in the same period of 2024[31]. - Cryptocurrency mining revenue for Q3 2025 was $2,769,000, a slight decrease of 1.5% from $2,811,000 in Q3 2024[31]. - Data hosting revenue increased by 23% to $5,257,000 in Q3 2025 from $4,271,000 in Q3 2024[31]. - Operating loss for Q3 2025 was $(7,780,000), an improvement from $(9,016,000) in Q3 2024[31]. - Net loss attributable to Soluna Holdings, Inc. for Q3 2025 was $(23,956,000), compared to $(7,190,000) in Q3 2024[31]. - For the nine months ended September 30, 2025, the company reported a net loss of $25,787, reflecting a significant increase compared to previous periods[36]. - The Company reported a net loss of $25.8 million for the three months ended September 30, 2025, compared to a net loss of $8.1 million for the same period in 2024[169]. Assets and Liabilities - Total assets increased to $152.035 million as of September 30, 2025, up from $88.040 million on December 31, 2024, representing a growth of 72.8%[29]. - Current assets rose significantly to $66.405 million, compared to $13.495 million at the end of 2024, marking an increase of 392.5%[29]. - Total liabilities increased to $78.570 million from $60.678 million, indicating a rise of 29.5%[29]. - The total current liabilities rose to $56.190 million from $47.873 million, an increase of 17.5%[29]. - Total debt outstanding as of September 30, 2025, was $23.253 million, compared to $21.505 million as of December 31, 2024, reflecting an increase of approximately 8.1%[85]. - The company has substantial doubt about its ability to continue as a going concern within one year after the issuance of its financial statements as of September 30, 2025[53]. Equity and Shares - Stockholders' equity improved to $73.465 million, up from $27.362 million, showing an increase of 168.5%[29]. - The number of common shares issued increased to 64,092,531 as of September 30, 2025, from 10,647,761 shares at the end of 2024[29]. - The Company had 64,051,790 shares of common stock outstanding, an increase from 10,607,020 shares as of December 31, 2024[153]. - The Company issued 9,090,909 shares in July 2025, raising approximately $5,037 in equity financing[36]. - The Company sold 14,649,141 and 17,989,804 shares of common stock under the ATM Agreement for net proceeds of $20.8 million and $23.0 million during the three and nine months ended September 30, 2025[158]. Cash Flow and Financing Activities - The company raised approximately $71,615,000 in net cash from financing activities during the nine months ended September 30, 2025, compared to $12,943,000 in the same period of 2024[38]. - The company experienced a net cash used in operating activities of $3,479,000 for the nine months ended September 30, 2025, slightly higher than the $3,412,000 used in the same period of 2024[38]. - The company has drawn approximately $23,000,000 in net proceeds from its At the Market Offering Agreement (ATM Agreement) as of September 30, 2025, with over $60 million still available[48]. - The company entered into a Credit and Guaranty Agreement providing for senior secured term loan commitments of up to $35,500,000, with approximately $12,600,000 borrowed under this agreement as of September 12, 2025[51]. Expenses and Losses - General and administrative expenses increased to $10,109,000 in Q3 2025 from $7,652,000 in Q3 2024, reflecting a 32.5% rise[31]. - The company reported a fair value adjustment loss of $(22,047,000) in Q3 2025, compared to a gain of $328,000 in Q3 2024[31]. - The Company incurred approximately $298 thousand and $1.0 million in interest expense for the three and nine months ended September 30, 2025, respectively, related to the June SPA[97]. - The Company incurred a loss on debt extinguishment of approximately $5.8 million due to fair value adjustments associated with the Fourth Amendment Agreement[137]. Stock-Based Compensation - Stock-based compensation for the nine months ended September 30, 2025, totaled $1,882, indicating ongoing investment in employee incentives[36]. - The Company awarded 2,751,078 restricted stock awards under the 2023 Plan, with a market price at grant of $0.47[193]. - As of September 30, 2025, unrecognized compensation cost related to unvested awards was approximately $8.2 million, expected to be recognized over a weighted-average period of approximately 1.5 years[201]. Strategic Initiatives - The strategic pipeline contract valued at $46.885 million is crucial for the company's digital mining and hosting business, aligning with its operational expansion goals[76]. - The Company plans to evaluate additional strategies for financing operations and capital expenditures in 2025[52]. - The Spring Lane Commitment allows for capital contributions up to an aggregate amount of $45 million to fund projects for developing green data centers co-located with renewable energy assets[208].

Summary of Soluna Holdings Special Meeting Company Overview - **Company**: Soluna Holdings (NasdaqCM: SLNH) - **Meeting Date**: November 07, 2025 - **Key Participants**: John Belizaire (CEO), David Michaels (CFO), Chris Gandolfo (Independent Inspector of Elections) Key Proposals Discussed 1. **Increase in Authorized Shares** - Proposal to amend the company's articles of incorporation to increase the number of authorized common stock from 75 million shares to 375 million shares - This proposal requires a majority vote to pass [5][12] 2. **Adjournment Proposal** - Proposal to adjourn the special meeting if necessary to solicit additional proxies if there is not sufficient vote to approve the amendment - This proposal also requires a majority vote to pass [5][12] Voting and Outcomes - A quorum was confirmed for the meeting, allowing it to proceed [3] - Both proposals were approved by a majority of the votes cast [12] Important Details - As of the record date (October 1, 2025), there were 64,102,101 shares of common stock issued and outstanding, with each share entitled to one vote [2] - The meeting was conducted with the presence of directors, officers, and legal counsel, ensuring compliance with corporate governance [1] - The final results of the voting will be reported in a Form 8-K to be filed with the SEC within four business days following the meeting [12] Additional Notes - The meeting was structured to allow stockholders to change their votes if desired [4] - The presence of an independent inspector of elections was noted, ensuring the integrity of the voting process [3]

Core Insights - Soluna Holdings, Inc. has completed Phase 3 of Project Dorothy 2 and is beginning development on Project Kati-2 for AI applications, while expanding its board with the appointment of Agnes Budzyn [1][7][17] Corporate Highlights - Soluna has announced a partnership with KULR Technology Group for a 3.3 MW hosting project at Project Sophie, enhancing its renewable-powered data center capabilities in Texas [7][18] - The company has been featured in various media outlets, highlighting its advancements in Renewable Computing [7] - A new podcast discusses how Soluna's recent $100 million credit facility will accelerate renewable-powered computing [7] Key Project Updates - Project Dorothy 1A and 1B are operational with 25 MW each for Bitcoin hosting and prop-mining, respectively [5] - Project Dorothy 2 is under construction with a capacity of 48 MW for Bitcoin hosting, with substantial completion of Phase 3 expected by mid-November [6][13] - Project Kati 1 is under construction with 83 MW for Bitcoin hosting, while Project Kati 2 is in development for AI and high-performance computing (HPC) with a similar capacity [9][10] - Project Grace, a 2 MW AI/HPC hosting project at Dorothy 2, is also under development [11] Operational Metrics - The deployment of new customers and upgraded units is ongoing, with a 3.3 MW customer deployment completed at the end of October and another expected in early November [8] - Coordination efforts are in place for a 20 MW deployment of next-generation miners in January [7] - Investment in fleet upgrades continues, with 900 new S19 XP miners expected to replace the current fleet at Project Dorothy 1B [7]

As filed with the Securities and Exchange Commission on October 27, 2025 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SOLUNA HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Nevada 7374 14-1462255 (I.R.S. Employer Identification Number) 325 Washington Avenu ...

As filed with the Securities and Exchange Commission on October 27, 2025 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SOLUNA HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Nevada 7374 14-1462255 (I.R.S. Employer Identification Number) 325 Washington Avenu ...

Core Insights - KULR Technology Group Inc. has entered a partnership with Soluna Holdings Inc. for a 3.3 MW Bitcoin mining hosting operation, marking a significant step in KULR's Bitcoin Treasury Accumulation Strategy [1][2][3] Company Overview - KULR Technology Group Inc. focuses on developing and commercializing thermal management technologies for electronics and batteries in the US [4] - Soluna Holdings Inc. operates in cryptocurrency mining through data centers and has three segments: Cryptocurrency Mining, Data Center Hosting, and HPC Services [4] Partnership Details - The partnership involves a Bitcoin Mining Lease where Soluna will manage KULR's mining hardware, ensuring guaranteed hashrate and uptime targets [3] - This collaboration allows Soluna to expand its customer base beyond traditional Bitcoin miners, aligning with KULR's strategy to allocate up to 90% of its surplus cash reserves to Bitcoin [2][3]

Core Insights - Soluna Holdings, Inc. has appointed Agnes Budzyn to its Board of Directors, bringing extensive expertise in finance, digital assets, and technology [1][2][5] Company Overview - Soluna is focused on developing green data centers for intensive computing applications, aiming to transform surplus renewable energy into global computing resources [8] - The company operates data centers co-located with renewable energy sources such as wind, solar, or hydroelectric power [8] Leadership Expertise - Agnes Budzyn has over a decade of experience in finance and technology, previously holding leadership roles at BlackRock and ConsenSys, where she contributed to the growth of the Ethereum ecosystem [2][3] - At BlackRock, she managed over $40 billion in portfolio restructuring and collaborated with major global institutions like the European Central Bank and the U.S. Federal Reserve [3] Strategic Vision - The appointment of Agnes Budzyn aligns with Soluna's vision to leverage renewable energy for sustainable computing, enhancing the company's governance and expertise in finance and digital infrastructure [5][3]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - Artiva Biotherapeutics, Inc. (ARTV) has increased by 124% to $6.22 [3] - Akanda Corp. (AKAN) is up 39% at $3.10 [3] - Kezar Life Sciences, Inc. (KZR) has risen 38% to $5.80 [3] - Carbon Revolution Public Limited Company (CREV) is also up 38% at $5.15 [3] - Safe & Green Holdings Corp. (SGBX) has increased by 28% to $3.96 [3] - Achieve Life Sciences, Inc. (ACHV) is up 23% at $3.80 [3] - Revolution Medicines, Inc. (RVMD) has risen 8% to $53.90 [3] - Erayak Power Solution Group Inc. (RAYA) is up 8% at $5.76 [3] - ProQR Therapeutics N.V. (PRQR) has increased by 7% to $3.00 [3] - Bio Green Med Solution, Inc. (BGMS) is up 6% at $4.04 [3] Premarket Losers - American Rebel Holdings, Inc. (AREB) has decreased by 41% to $2.09 [4] - Sadot Group Inc. (SDOT) is down 25% at $5.35 [4] - AVITA Medical, Inc. (RCEL) has fallen 24% to $4.04 [4] - Soluna Holdings, Inc. (SLNH) is down 23% at $3.22 [4] - American Battery Technology Company (ABAT) has decreased by 17% to $4.70 [4] - CID HoldCo, Inc. (DAIC) is down 17% at $2.16 [4] - Pinnacle Food Group Limited (PFAI) has fallen 12% to $3.12 [4] - OnKure Therapeutics, Inc. (OKUR) is down 12% at $2.52 [4] - Whitehawk Therapeutics, Inc. (WHWK) has decreased by 12% to $2.29 [4] - Aqua Metals, Inc. (AQMS) is down 7% at $14.50 [4]

Core Insights - The article discusses the transition towards sustainable cryptocurrency mining through eco-friendly data centers, highlighting partnerships and expansions among key players in the industry [4][6][8]. Group 1: Industry Trends - Cryptocurrency mining data centers consume 100-200 times more energy than conventional office spaces, necessitating advancements in power consumption regulation and cooling mechanisms for sustainability [6]. - The market for sustainable data centers is projected to reach $43.64 billion by 2034, driven by the integration of renewable energy sources and advanced technologies [4][8]. Group 2: Company Developments - KULR Technology Group has entered a 3.3 MW hosting agreement with Soluna Holdings for Bitcoin mining at Project Sophie in Kentucky, set to launch in Q4 2025 [4][10]. - Soluna is also deploying a 20 MW Avalon miner project in Texas with Canaan Inc., expected to be operational by Q1 2026, enhancing its renewable-powered infrastructure [12][15]. - Riot Platforms mined 445 Bitcoin in September 2025, marking an 8% year-over-year increase, while diversifying into non-crypto data centers under new leadership [4][17]. - IREN Limited has doubled its AI cloud capacity to 23,000 GPUs, targeting over $500 million in annualized revenue by Q1 2026, reflecting the growing demand for AI and Bitcoin mining [20][22].