Soluna Holdings, Inc: directors' dealings · United States · SEC (Form 4)

About Soluna Holdings, Inc

Soluna Holdings, Inc. is a U.S.-based digital infrastructure company listed on the NASDAQ in the United States. The company is focused on converting surplus renewable energy into computing capacity through modular data centers designed to sit close to wind, solar, or hydroelectric generation assets. Founded originally in 1961 as Mechanical Technology, Incorporated, the business was later reincorporated in Nevada and renamed Soluna Holdings in 2021. Its headquarters are in Albany, New York, giving the company a distinctive profile that combines energy infrastructure, data centers, and high-performance computing. ([sec.gov](https://www.sec.gov/Archives/edgar/data/64463/000164117225001756/form10-k.htm?utm_source=openai)) Soluna’s core business model is built around “renewable computing”: using flexible, behind-the-meter data center infrastructure to monetize power that might otherwise be curtailed or underutilized. The company serves several compute-intensive use cases, including hosted Bitcoin mining, high-performance computing, generative AI workloads, and demand response services for utilities and grid operators. A proprietary software layer, MaestroOS, is positioned as an operational tool to improve energy efficiency, site performance, and grid integration. This makes Soluna more than a pure colocation provider; it is effectively an energy-optimized compute platform. ([sec.gov](https://www.sec.gov/Archives/edgar/data/64463/000149315225023755/ex99-1.htm?utm_source=openai)) From a competitive standpoint, Soluna occupies a niche position rather than competing head-on with large hyperscale cloud providers. Its differentiation lies in co-locating compute with renewable generation, targeting lower-cost and lower-carbon power access, and developing projects in modular phases. That strategy may appeal to customers seeking specialized infrastructure for Bitcoin hosting or AI/HPC capacity, but it also creates execution risk because project development, financing, permitting, and power agreements are central to the business model. The company’s project pipeline has been marketed under names such as Project Dorothy and Project Sophie, reflecting an asset-by-asset development approach. ([sec.gov](https://www.sec.gov/Archives/edgar/data/64463/000164117225001756/form10-k.htm?utm_source=openai)) Recent milestones include the release of full-year 2024 results, which highlighted revenue growth, the launch of the AI/HPC business, and progress on Project Dorothy 2. Soluna also reported a simplified capital structure, including the reduction of certain convertible notes to zero, while continuing to emphasize growth capital needs. At the same time, the company’s annual report continues to flag liquidity constraints and going-concern risk, which remain important considerations for equity investors. As a NASDAQ-listed issuer in the United States, Soluna also attracts market attention through SEC Form 4 insider filings, underscoring the stock’s sensitivity to governance and ownership signals. ([sec.gov](https://www.sec.gov/Archives/edgar/data/64463/000164117225001998/ex99-1.htm?utm_source=openai))