SLNH on Nasdaq
Soluna Holdings, Inc
American finance services company based in Albany, listed on Nasdaq (SLNH)1
In its 2026 annual report the company says: “We develop, own, and operate digital infrastructure for energy-intensive computing applications by colocating data centers with renewable energy power plants. We utilize two distinct data center designs to serve different computing markets.”4
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Last updated Oct 21, 2026.
Overview
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- TickerSLNH on Nasdaq1
- IndustryFinance Services1
- HeadquartersAlbany, New York1
- Incorporated inNV2
- Business address325 Washington Avenue Extension, Albany, Ny 122052
- Filer categoryNon-accelerated filer, Smaller reporting company2
- Legal formCorporation
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Our mission is to make renewable energy a global superpower by using computing as a catalyst.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
6.1%Gross margin5
-113.3%Operating margin5
-179.7%Net margin5
-21.8%Revenue growth, 20255
-99.7%Return on equity5
0.33×Debt to equity5
-$37.2MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Data Hosting Revenue brought in 57% of the revenue Soluna Holdings, Inc broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Data Hosting Revenue | $18.8M | $17.0M |
| Cryptocurrency Mining Revenue | $17.0M | $11.4M |
| Demand Response Services | $2.1M | $1.3M |
| High Performance Computing Service Revenue | $16.0K | $28.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue35¢$23.3M
- Selling, general and admin61¢$40.1M
- Income tax4¢$2.3M
Out of $29.7M in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenue | $29.7M | $38.0M |
| Depreciation | $6.7M | $6.0M |
| Total cost of revenue | $23.3M | $28.6M |
| General and administrative expenses, exclusive of depreciation and amortization | $30.5M | $18.6M |
| Depreciation and amortization associated with general and administrative expenses | $9.6M | $9.6M |
| Total general and administrative expenses | $40.1M | $28.2M |
| Loss on contract | $0 | $28.6M |
| Impairment on fixed assets | $12.0K | $130.0K |
| Operating loss | -$33.7M | -$47.5M |
| Interest expense | -$4.8M | -$2.5M |
| Gain (loss) on debt extinguishment and revaluation, net | $10.7M | -$1.6M |
| Fair value adjustment loss | -$23.7M | -$5.7M |
| Loss on sale of fixed assets and credit on equipment deposit | -$1.2M | -$31.0K |
| Other financing expense | -$5.9M | -$3.7M |
| Other (expense) income, net | -$700.0K | $304.0K |
| Loss before income taxes | -$59.3M | -$60.8M |
| Income tax benefit, net | $2.3M | $2.5M |
| Net loss | -$57.0M | -$58.3M |
| (Less) Net loss (income) attributable to non-controlling interest, net | $3.6M | -$5.0M |
| Net loss attributable to Soluna Holdings, Inc. | -$53.4M | -$63.3M |
| Basic (in dollars per share) | -$2.38 | -$14.94 |
| Diluted (in dollars per share) | -$2.38 | -$14.94 |
| Weighted average number of shares outstanding, basic (in shares) | 29.0M shares | 5.1M shares |
| Weighted average number of shares outstanding, diluted (in shares) | 29.0M shares | 5.1M shares |
| Period ending | 2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|
| Basic (in dollars per share) | -$0.93 | -$1.21 | -$1.56 | -$3.62 |
| Diluted (in dollars per share) | -$0.93 | -$1.21 | -$1.56 | -$3.62 |
| Weighted average number of shares outstanding, basic (in shares) | 11.1M shares | 8.7M shares | 6.4M shares | 3.7M shares |
| Weighted average number of shares outstanding, diluted (in shares) | 11.1M shares | 8.7M shares | 6.4M shares | 3.7M shares |
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2024-07-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $76.4M | $7.8M | ||
| Restricted cash | $4.5M | $1.1M | ||
| Accounts receivable, net (allowance for expected credit losses $244 as of December 31, 2025 and December 31, 2024) | $5.5M | $2.7M | ||
| Loan commitment assets | $3.0M | $0 | ||
| Prepaid expenses and other current assets | $2.7M | $1.8M | ||
| Equipment held for sale | $0 | $28.0K | ||
| Total Current Assets | $92.1M | $13.5M | ||
| Restricted cash, noncurrent | $7.9M | $1.5M | ||
| Other assets | $978.0K | $2.7M | ||
| Deposits and credits on equipment | $1.4M | $5.1M | ||
| Property, plant and equipment, net | $74.8M | $47.3M | ||
| Intangible assets, net | $8.3M | $17.6M | ||
| Operating lease right-of-use assets | $252.0K | $313.0K | ||
| Financing lease right-of-use assets | $2.2M | $0 | ||
| Total Assets | $187.9M | $88.0M | ||
| Accounts payable | $4.9M | $2.8M | ||
| Accrued liabilities | $13.2M | $6.8M | ||
| Accrued interest | $303.0K | $2.3M | ||
| Contract liability | $19.3M | $20.0M | ||
| Current portion of debt | $8.9M | $14.4M | ||
| Income tax payable | $123.0K | $37.0K | ||
| Customer deposits-current | $1.9M | $1.4M | ||
| Deferred revenue | $518.0K | $0 | ||
| Operating lease liability | $65.0K | $61.0K | ||
| Financing lease liability | $20.0K | $0 | ||
| Total Current Liabilities | $49.2M | $47.9M | ||
| Other liabilities | $743.0K | $235.0K | ||
| Customer deposits- long-term | $2.5M | $0 | ||
| Long-term debt | $17.9M | $7.1M | $2.2M | |
| Operating lease liability | $187.0K | $252.0K | ||
| Financing lease liability | $2.2M | $0 | ||
| Deferred tax liability, net | $2.9M | $5.3M | ||
| Total Liabilities | $75.7M | $60.7M | ||
| Placement agent warrants | $1.3M | $0 | $0 | |
| Common stock, par value $0.001 per share, authorized 375,000,000; 102,617,684 shares issued and 102,531,089 shares outstanding as of December 31, 2025 and 10,647,761 shares issued and 10,607,020 shares outstanding as of December 31, 2024 | $103.0K | $11.0K | ||
| Additional paid-in capital | $435.0M | $315.6M | ||
| Accumulated deficit | -$367.7M | -$314.3M | ||
| Common stock in treasury, at cost, 86,595 shares at December 31, 2025 and 40,741 shares at December 31, 2024 | -$13.9M | -$13.8M | ||
| Total Soluna Holdings, Inc. Stockholders Equity (Deficit) | $53.5M | -$12.5M | ||
| Non-Controlling Interest | $57.4M | $39.8M | ||
| Total Stockholders Equity | $110.9M | $27.4M | $53.4M | |
| Total Liabilities, Mezzanine Equity, and Stockholders Equity | $187.9M | $88.0M | ||
| Accounts receivable, allowance for credit loss, current | $244.0K | $244.0K | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 375.0M shares | 375.0M shares | ||
| Common stock, shares, issued (in shares) | 102.6M shares | 10.6M shares | ||
| Common stock, shares, outstanding (in shares) | 102.5M shares | 10.6M shares | ||
| Treasury stock, common, shares (in shares) | 86.6K shares | 40.7K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-07-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $76.4M | $7.8M | ||
| Restricted cash | $4.5M | $1.1M | ||
| Accounts receivable, net (allowance for expected credit losses $244 as of December 31, 2025 and December 31, 2024) | $5.5M | $2.7M | ||
| Loan commitment assets | $3.0M | $0 | ||
| Prepaid expenses and other current assets | $2.7M | $1.8M | ||
| Equipment held for sale | $0 | $28.0K | ||
| Total Current Assets | $92.1M | $13.5M | ||
| Restricted cash, noncurrent | $7.9M | $1.5M | ||
| Other assets | $978.0K | $2.7M | ||
| Deposits and credits on equipment | $1.4M | $5.1M | ||
| Property, plant and equipment, net | $74.8M | $47.3M | ||
| Intangible assets, net | $8.3M | $17.6M | ||
| Operating lease right-of-use assets | $252.0K | $313.0K | ||
| Financing lease right-of-use assets | $2.2M | $0 | ||
| Total Assets | $187.9M | $88.0M | ||
| Accounts payable | $4.9M | $2.8M | ||
| Accrued liabilities | $13.2M | $6.8M | ||
| Accrued interest | $303.0K | $2.3M | ||
| Contract liability | $19.3M | $20.0M | ||
| Current portion of debt | $8.9M | $14.4M | ||
| Income tax payable | $123.0K | $37.0K | ||
| Customer deposits-current | $1.9M | $1.4M | ||
| Deferred revenue | $518.0K | $0 | ||
| Operating lease liability | $65.0K | $61.0K | ||
| Financing lease liability | $20.0K | $0 | ||
| Total Current Liabilities | $49.2M | $47.9M | ||
| Other liabilities | $743.0K | $235.0K | ||
| Customer deposits- long-term | $2.5M | $0 | ||
| Long-term debt | $17.9M | $7.1M | $2.2M | |
| Operating lease liability | $187.0K | $252.0K | ||
| Financing lease liability | $2.2M | $0 | ||
| Deferred tax liability, net | $2.9M | $5.3M | ||
| Total Liabilities | $75.7M | $60.7M | ||
| Placement agent warrants | $1.3M | $0 | $0 | |
| Common stock, par value $0.001 per share, authorized 375,000,000; 102,617,684 shares issued and 102,531,089 shares outstanding as of December 31, 2025 and 10,647,761 shares issued and 10,607,020 shares outstanding as of December 31, 2024 | $103.0K | $11.0K | ||
| Additional paid-in capital | $435.0M | $315.6M | ||
| Accumulated deficit | -$367.7M | -$314.3M | ||
| Common stock in treasury, at cost, 86,595 shares at December 31, 2025 and 40,741 shares at December 31, 2024 | -$13.9M | -$13.8M | ||
| Total Soluna Holdings, Inc. Stockholders Equity (Deficit) | $53.5M | -$12.5M | ||
| Non-Controlling Interest | $57.4M | $39.8M | ||
| Total Stockholders Equity | $110.9M | $27.4M | $53.4M | |
| Total Liabilities, Mezzanine Equity, and Stockholders Equity | $187.9M | $88.0M | ||
| Accounts receivable, allowance for credit loss, current | $244.0K | $244.0K | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 375.0M shares | 375.0M shares | ||
| Common stock, shares, issued (in shares) | 102.6M shares | 10.6M shares | ||
| Common stock, shares, outstanding (in shares) | 102.5M shares | 10.6M shares | ||
| Treasury stock, common, shares (in shares) | 86.6K shares | 40.7K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$57.0M | -$58.3M |
| Depreciation expense | $6.9M | $6.2M |
| Amortization expense | $9.5M | $9.5M |
| Stock-based compensation | $10.6M | $5.3M |
| Deferred income taxes | -$2.3M | -$2.5M |
| Impairment on fixed assets | $12.0K | $130.0K |
| Provision for credit losses | $0 | $760.0K |
| Amortization of operating lease asset and financing lease | $189.0K | $133.0K |
| Debt issuance costs | $0 | $2.0M |
| (Gain) loss on debt extinguishment and revaluation, net | -$10.7M | $1.6M |
| Loss on contract | $0 | $28.6M |
| Amortization on deferred financing costs and discount on notes | $1.1M | $351.0K |
| Fair value adjustments, including SEPA | $23.7M | $5.7M |
| Fair value on placement agent warrant financing cost | $146.0K | $0 |
| Loss on sale of fixed assets and credit on equipment deposit | $1.2M | $31.0K |
| Conversion inducement expense | $0 | $388.0K |
| Accounts receivable | -$2.8M | -$505.0K |
| Prepaid expenses and other current assets | -$884.0K | -$3.3M |
| Other long-term assets | $1.7M | -$4.8M |
| Accounts payable | $2.0M | $741.0K |
| Contract liability | -$667.0K | $0 |
| Deferred revenue | $1.0M | $0 |
| Operating lease liabilities | -$61.0K | -$138.0K |
| Other liabilities and customer deposits | $3.0M | -$1.7M |
| Accrued liabilities and accrued interest payable | $4.3M | $4.8M |
| Net cash used in operating activities | -$9.1M | -$5.1M |
| Purchases of property, plant, and equipment | -$28.1M | -$8.9M |
| Purchases of intangible assets | -$134.0K | -$101.0K |
| Proceeds from disposal on property, plant, and equipment | $0 | $215.0K |
| Deposits of equipment | -$3.7M | -$4.4M |
| Net cash used in investing activities | -$31.9M | -$13.2M |
| Proceeds from common stock warrant exercises | $10.3M | $2.3M |
| Proceeds from notes and debt issuance | $23.9M | $14.5M |
| Payments on notes | -$6.7M | -$2.7M |
| Payments of Debt Issuance Costs | -$2.8M | -$899.0K |
| Payments on other financing costs | $0 | -$1.4M |
| Payments on warrant redemptions | -$452.0K | $0 |
| Payments on financing lease liabilities | -$118.0K | $0 |
| Costs on treasury stock | -$75.0K | $0 |
| Contributions from non-controlling interest | $29.6M | $14.7M |
| Distributions to non-controlling interest | -$8.7M | -$8.3M |
| Net cash provided by financing activities | $119.4M | $18.3M |
| Increase in cash & restricted cash | $78.4M | $86.0K |
| Interest paid on debt | $2.0M | $527.0K |
| Fair value consideration for Green Cloud issuance of shares | $810.0K | $0 |
| Noncash financing cost accrual | $766.0K | $0 |
| Noncash deferred financing cost accrual | $828.0K | $0 |
| Warrant consideration in relation to Generate Common Warrant | $2.6M | $0 |
| Warrant consideration in relation to convertible notes, Cloud notes, and revaluation of warrant liability | $0 | $6.4M |
| Notes converted to common stock | $0 | $9.0M |
| Noncash membership distribution accrual | $3.6M | $1.2M |
| SEPA commitment payment | $0 | $275.0K |
| Placement agent release payment | $0 | $1.0M |
| Fair value consideration on placement agent warrants | $1.3M | $0 |
| Noncash non-controlling interest contributions | $2.7M | $2.2M |
| Noncash activity right-of-use assets obtained in exchange for lease obligations | $2.3M | $146.0K |
No quarter-by-quarter statement was filed.
Corporate structure
Soluna Holdings, Inc sits at the top of its group. 30 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Soluna Holdings, Inc
- Robert L. Bugbee Filed SCHEDULE 13G on Soluna Holdings, Inc, latest Aug 5, 2026 (3 filings since Feb 11, 2026)
- BlackRock Filed SCHEDULE 13G on Soluna Holdings, Inc, latest Jul 30, 2026
- ALPHA CAPITAL ANSTALT Filed SCHEDULE 13G/A on Soluna Holdings, Inc, latest Nov 12, 2025 (2 filings since Mar 30, 2023)
- INTRACOASTAL CAPITAL, LLC Filed SCHEDULE 13G/A on Soluna Holdings, Inc, latest Nov 7, 2025 (2 filings since Jul 18, 2025)
- Generate Strategic Credit Master Fund I-B, L.P. Filed SCHEDULE 13G on Soluna Holdings, Inc, latest Sep 18, 2025
- YA II PN, Ltd. Filed SCHEDULE 13G on Soluna Holdings, Inc, latest Feb 6, 2025
- Wayne W. Boos Filed SC 13D/A on Soluna Holdings, Inc, latest Apr 26, 2024 (5 filings since Aug 1, 2023)
- Brookstone Partners IAC, Inc. Filed SC 13G/A on Soluna Holdings, Inc, latest Feb 14, 2024 (4 filings since Mar 9, 2022)
- DOMO Capital Management, LLC Filed SC 13G/A on Soluna Holdings, Inc, latest Feb 6, 2024 (4 filings since Jan 5, 2022)
- Waichun Logistics Technology Ltd Filed SC 13G/A on Soluna Holdings, Inc, latest Feb 3, 2022
- Soluna Holdings, Inc Albany, New York
- SDI SL Borrowing - 1, LLC Subsidiary · Nevada, United States
- Soluna AL CloudCo, LLC Soluna GH CloudCo, LLC Subsidiary · Delaware, United States
- Soluna Callisto Holdings, Inc. Subsidiary · Delaware, United States
- Soluna Cloud, Inc. Subsidiary · Nevada, United States
- Soluna Digital, Inc. Subsidiary · Nevada, United States
- Soluna DV ComputeCo, LLC Subsidiary · Delaware, United States
- Soluna DV Services, LLC Subsidiary · Delaware, United States
- Soluna DV Wind JVCo, LLC Soluna DV Wind Holdco, LLC Soluna DV Wind SponsorCo, LLC Subsidiary · Nevada, United States
- Soluna DVSL ComputeCo, LLC Subsidiary · Delaware, United States
- Soluna DVSL HoldCo, LLC Subsidiary · Delaware, United States
- Soluna DVSL II ComputeCo, LLC Subsidiary · Delaware, United States
- Soluna DVSL II HoldCo, LLC Subsidiary · Delaware, United States
- Soluna DVSL II JVCo, LLC Subsidiary · Delaware, United States
- Soluna DVSL JVCo, LLC Subsidiary · Nevada, United States
- Soluna Energy, Inc. Soluna HPC, Inc. Soluna Wind Holdings, Inc. Subsidiary · Nevada, United States
- Soluna EPC Services II , LLC Subsidiary · Nevada, United States
- Soluna EPC Services, LLC Subsidiary · Nevada, United States
- Soluna Global Services, Inc. Subsidiary · Nevada, United States
- Soluna KK Energy HoldCo, LLC Soluna DV Energy HoldCo, LLC Soluna HL Energy ServiceCo, LLC Soluna EO Energy ServiceCo, LLC Subsidiary · Nevada, United States
- Soluna KK Energy ServiceCo, LLC Subsidiary · Delaware, United States
- Soluna KK I ComputeCo, LLC Subsidiary · Delaware, United States
- Soluna KK II HPC ComputeCo, LLC Subsidiary · Nevada, United States
- Soluna KKSL HoldCo, LLC Subsidiary · Delaware, United States
- Soluna KKSL JVCo, LLC Soluna DV Devco, LLC Subsidiary · Nevada, United States
- Soluna MC Borrowings, LLC 2021-1 Subsidiary · Delaware, United States
- and 4 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Soluna Holdings, Inc reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $90.3M5 Dec 31, 2025 | $57.1M5 Dec 31, 2024 | +58.0% |
| Accumulated depreciation | $15.5M5 Dec 31, 2025 | $9.9M5 Dec 31, 2024 | +57.2% |
| Property and equipment, net | $74.8M5 Dec 31, 2025 | $47.3M5 Dec 31, 2024 | +58.2% |
| Finance-lease assets | $2.2M5 Dec 31, 2025 | $05 Dec 31, 2024 | |
| Operating-lease assets (leased space) | $252.0K5 Dec 31, 2025 | $313.0K5 Dec 31, 2024 | −19.5% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $8.3M5 Dec 31, 2025 | $17.6M5 Dec 31, 2024 | −53.1% |
| Finite-lived intangibles, gross | $47.8M5 Dec 31, 2025 | $47.7M5 Dec 31, 2024 | +0.3% |
| Accumulated amortization | $39.5M5 Dec 31, 2025 | $30.0M5 Dec 31, 2024 | +31.6% |
| Finite-lived intangibles, net | $8.3M5 Dec 31, 2025 | $17.6M5 Dec 31, 2024 | −53.1% |
Properties, in its own words
We lease approximately 3,478 square feet of office, in Albany, New York, which houses the corporate offices of SHI. The current lease agreement expires on December 31, 2027.
On March 4, 2021, Soluna SW, LLC acquired a 3.2-acre tract of real property located in Murray, Kentucky on which it has built an energy-efficient cryptocurrency mining facility, Project Sophie, that includes 22 buildings for data facility hosting.
The rest of Item 2
On February 24, 2023, Soluna DV Services, LLC entered into a lease agreement for a 33.19-acre tract of land in Silverton, Texas. The agreement has an initial five-year term with the right to extend the term of the agreement for five additional one-year terms. The lease is associated with our Dorothy facilities for the purpose of constructing, installing, operating and maintaining modular data centers.
On April 3, 2025, Soluna KK Energy ServiceCo, LLC entered into a lease agreement for 50 acres of property located in Willacy County, Texas, for the purpose of constructing, installing, operating, and maintaining modular data centers and related facilities for a term of twenty-two years. This leased agreement will be used for Project Kati 1.
On October 1, 2025, Soluna KK Energy ServiceCo, LLC purchased 50 acres of property located in Willacy County, Texas for the purpose of constructing, installing, operating, and maintaining modular data centers and related facilities. This purchase of land will be used for Project Kati 2.
We believe these facilities are generally well-maintained and adequate for the Company’s current needs and for expansion, if required. Our business growth, however, is dependent on developing additional properties, and we believe our project pipeline is strong enough to support our current business plan.
Item 2 of the 10-K filed Mar 30, 2026.4
Leadership
Who has led Soluna Holdings, Inc, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
2010201520202025
- Chief executive officerMichael Toporek Mar 29, 2021 to Aug 22, 202213
- Chief executive officerJohn Belizaire Nov 3, 2021 to now14
- Chief executive officerFrederick W. Jones May 11, 2018 to May 11, 201815
- Chief executive officerKevin G. Lynch Nov 16, 2012 to Jun 27, 201616
- Chief executive officerSteven N. Fischer Jan 3, 2006 to Nov 21, 200617
- Chief executive officerPeng K. Lim Dec 21, 2006 to Jul 5, 201218
- ChairKevin G. Lynch Nov 16, 2012 to Jun 27, 201616
- ChairPeng K. Lim May 22, 2008 to Jul 5, 201219
- ChairSteven N. Fischer Jan 3, 2006 to Sep 5, 200717
- PresidentMoshe Binyamin Jan 11, 2021 to Jul 7, 202120
- Chief financial officerMichael Picchi Apr 1, 2026 to now21
- Chief financial officerJohn Tunison Apr 12, 2024 to Apr 1, 202622
- Chief financial officerDavid C. Michaels Dec 15, 2023 to Apr 12, 202423
- Chief financial officerPhilip F. Patman Jr. Aug 26, 2022 to Apr 18, 202324
- Chief financial officerJessica L. Thomas Nov 30, 2020 to Nov 3, 202225
- Chief financial officerFrederick W. Jones Jun 23, 2009 to May 11, 201826
- Chief financial officerCynthia A. Scheuer Jan 3, 2006 to Sep 7, 200727
Board members and other officers (20)
- Chief Development OfficerRyan Carver Jul 21, 2026 to now28
- Chief Accounting OfficerJessica L. Thomas Mar 23, 2023 to now29
- Chief People OfficerMary Jennifer Oreilly Oct 12, 2021 to now30
- Board memberAgnieszka Teresa Budzyn Oct 30, 2025 to now31
- Board memberWilliam Hazelip Mar 5, 2021 to now32
- Board memberAlykhan Madhavji Mar 9, 2021 to Mar 25, 202233
- Board memberMatthew E. Lipman Mar 29, 2021 to now34
- Board memberMichael Toporek Mar 29, 2021 to now13
- Board memberJohn Belizaire Nov 3, 2021 to now14
- Board memberJohn Bottomley Nov 3, 2021 to now35
- Board memberEdward R. Hirshfield Oct 27, 2016 to now36
- Board memberDavid C. Michaels Aug 30, 2013 to now37
- Board memberKevin G. Lynch Jul 5, 2012 to Apr 11, 201338
- Board memberDale W. Church Jan 3, 2006 to Apr 27, 200639
- Board memberE. Dennis Oconnor Jan 3, 2006 to Jan 15, 201640
- Board memberEdward A. Dohring Jan 3, 2006 to Apr 5, 200641
- Board memberWalter L. Robb Jan 3, 2006 to Jan 15, 201642
- Board memberThomas J. Marusak May 18, 2006 to now43
- Board memberWilliam P. Phelan May 18, 2006 to now44
- Board memberPeng K. Lim Dec 21, 2006 to Dec 10, 200718
Named in SEC Form D filings
People the company listed in its private-offering notices.
- DirectorAlykan R. Madhavji named Nov 12, 202145
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- SDI SL Borrowing - 1, LLC Nevada3
- Soluna AL CloudCo, LLC Soluna GH CloudCo, LLC Delaware3
- Soluna Callisto Holdings, Inc. Delaware3
- Soluna Cloud, Inc. Nevada3
- Soluna DV ComputeCo, LLC Delaware3
- Soluna DV Services, LLC Delaware3
- Soluna DV Wind JVCo, LLC Soluna DV Wind Holdco, LLC Soluna DV Wind SponsorCo, LLC Nevada3
- Soluna DVSL ComputeCo, LLC Delaware3
- Soluna DVSL HoldCo, LLC Delaware3
- Soluna DVSL II ComputeCo, LLC Delaware3
- Soluna DVSL II HoldCo, LLC Delaware3
- Soluna DVSL II JVCo, LLC Delaware3
- Soluna DVSL JVCo, LLC Nevada3
- Soluna Digital, Inc. Nevada3
- Soluna EPC Services II , LLC Nevada3
- Soluna EPC Services, LLC Nevada3
- Soluna Energy, Inc. Soluna HPC, Inc. Soluna Wind Holdings, Inc. Nevada3
- Soluna Global Services, Inc. Nevada3
- Soluna KK Energy HoldCo, LLC Soluna DV Energy HoldCo, LLC Soluna HL Energy ServiceCo, LLC Soluna EO Energy ServiceCo, LLC Nevada3
- Soluna KK Energy ServiceCo, LLC Delaware3
- Soluna KK I ComputeCo, LLC Delaware3
- Soluna KK II HPC ComputeCo, LLC Nevada3
- Soluna KKSL HoldCo, LLC Delaware3
- Soluna KKSL JVCo, LLC Soluna DV Devco, LLC Nevada3
All 29 listed subsidiaries
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- MECHANICAL TECHNOLOGY INCApr 17, 1995 to Oct 29, 20212
Timeline
- Sep 28, 20268-K Regulation FD disclosure46
- Sep 14, 20268-K Regulation FD disclosure47
- Sep 9, 20268-K Regulation FD disclosure48
- Sep 8, 20268-K Regulation FD disclosure49
- Aug 25, 20268-K Regulation FD disclosure50
- Aug 24, 20268-K Regulation FD disclosure51
- Aug 13, 20268-K Results of operations; Regulation FD disclosure52
- Aug 5, 20268-K Regulation FD disclosure53
- Jul 30, 20268-K Regulation FD disclosure54
- Jul 24, 20268-K Executive or director change55
- Jul 16, 20268-K Regulation FD disclosure56
- Jul 14, 20268-K Regulation FD disclosure57
- Nov 3, 2021New chief executive John Belizaire becomes CEO14
- Mar 29, 2021New chief executive Michael Toporek becomes CEO13
- May 11, 2018New chief executive Frederick W. Jones becomes CEO15
- Nov 16, 2012New chief executive Kevin G. Lynch becomes CEO16
- Dec 21, 2006New chief executive Peng K. Lim becomes CEO18
- Jan 3, 2006New chief executive Steven N. Fischer becomes CEO17
Calendar
Coming up
- Nov 13, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.70) a share, on Nov 14, 2025.58
When it reported results
- Aug 13, 2026Reported quarterly or annual results52
- May 18, 2026Reported quarterly or annual results59
- Mar 30, 2026Reported quarterly or annual results60
- Nov 17, 2025Reported quarterly or annual results61
- Aug 15, 2025Reported quarterly or annual results62
- May 16, 2025Reported quarterly or annual results63
- Apr 1, 2025Reported quarterly or annual results64
- Nov 15, 2024Reported quarterly or annual results65
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
585 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 187 major events, 212 insider forms, 24 large holders, 7 private raises, 134 other. The latest 20:
- Sep 28, 20268-K EDGAR
- Sep 24, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 17, 20264 EDGAR
- Sep 14, 20268-K EDGAR
- Sep 9, 20268-K EDGAR
- Sep 8, 20268-K EDGAR
- Sep 4, 20264 EDGAR
- Sep 3, 2026144 EDGAR
- Sep 1, 2026144 EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Aug 31, 20264 EDGAR
- Aug 27, 20264 EDGAR
- Aug 27, 20264 EDGAR
- Aug 25, 20264 EDGAR
- Aug 25, 20268-K EDGAR
- Aug 24, 2026ARS EDGAR
- Aug 24, 2026DEF 14A EDGAR
- Aug 24, 20264 EDGAR
The 585 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
97 open-market trades by officers, directors and large owners since October 2021: 24 buys and 73 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 23, 2026 | Thomas Jessica L.Chief Accounting Officer | Sale | 30,000 | $1.26 | $37.8K | Form 4 |
| Sep 3, 2026 | Phelan William PDirector | Sale | 12,037 | $1.12 | $13.5K | Form 4 |
| Sep 1, 2026 | Belizaire JohnChief Executive Officer | Sale | 1,000 | $11.91 | $11.9K | Form 4 |
| Aug 31, 2026 | Phelan William PDirector | Sale | 3,188 | $12.08 | $38.5K | Form 4 |
| Aug 28, 2026 | Phelan William PDirector | Sale | 5,039 | $12.25 | $61.7K | Form 4 |
| Aug 28, 2026 | PICCHI MICHAELChief Financial Officer | Buy | 20,000 | $1.13 | $22.6K | Form 4 |
| Aug 27, 2026 | Phelan William PDirector | Sale | 8,099 | $12.08 | $97.8K | Form 4 |
| Aug 26, 2026 | Belizaire JohnChief Executive Officer | Buy | 50,000 | $1.20 | $60.0K | Form 4 |
| Aug 26, 2026 | Phelan William PDirector | Sale | 1,862 | $12.09 | $22.5K | Form 4 |
| Aug 25, 2026 | Phelan William PDirector | Sale | 5,000 | $12.00 | $60.0K | Form 4 |
| Aug 24, 2026 | Phelan William PDirector | Sale | 5,000 | $11.66 | $58.3K | Form 4 |
| Aug 24, 2026 | PICCHI MICHAELChief Financial Officer | Buy | 10,000 | $1.14 | $11.4K | Form 4 |
| Aug 21, 2026 | Phelan William PDirector | Sale | 8,843 | $12.29 | $108.7K | Form 4 |
| Aug 20, 2026 | PICCHI MICHAELChief Financial Officer | Buy | 20,000 | $1.15 | $23.0K | Form 4 |
| Aug 20, 2026 | Phelan William PDirector | Sale | 1,157 | $12.45 | $14.4K | Form 4 |
| Aug 19, 2026 | Phelan William PDirector | Sale | 5,000 | $12.61 | $63.0K | Form 4 |
| Aug 17, 2026 | Hirshfield Edward RDirector | Sale | 9,007 | $12.34 | $111.1K | Form 4 |
| Jun 22, 2026 | Phelan William PDirector | Sale | 3,074 | $11.00 | $33.8K | Form 4 |
| Jun 18, 2026 | Phelan William PDirector | Sale | 4,813 | $11.00 | $52.9K | Form 4 |
| Jun 17, 2026 | Phelan William PDirector | Sale | 10,113 | $10.75 | $108.7K | Form 4 |
All 97 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Robert L. BugbeeSCHEDULE 13G, 3 filings Feb 11, 2026 to Aug 5, 202666
- BlackRockSCHEDULE 13G, 1 filing Jul 30, 202667
- ALPHA CAPITAL ANSTALTSCHEDULE 13G/A, 2 filings Mar 30, 2023 to Nov 12, 202568
- INTRACOASTAL CAPITAL, LLCSCHEDULE 13G/A, 2 filings Jul 18, 2025 to Nov 7, 202569
- Generate Strategic Credit Master Fund I-B, L.P.SCHEDULE 13G, 1 filing Sep 18, 202570
- YA II PN, Ltd.SCHEDULE 13G, 1 filing Feb 6, 202571
- Wayne W. BoosSC 13D/A, 5 filings Aug 1, 2023 to Apr 26, 202472
- Brookstone Partners IAC, Inc.SC 13G/A, 4 filings Mar 9, 2022 to Feb 14, 202473
- DOMO Capital Management, LLCSC 13G/A, 4 filings Jan 5, 2022 to Feb 6, 202474
- Waichun Logistics Technology LtdSC 13G/A, 1 filing Feb 3, 202275
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Michael Toporek | 61 | $315.0K | $12.5M76 |
| 2025 | John Belizaire | 54 | $463.1K | $6.0M76 |
| 2025 | David Michaels | 71 | $280.7K | $1.7M76 |
| 2024 | Executive Chairman of the Board | $315.0K | $7.1M76 | |
| 2024 | Chief Executive Officer | $450.0K | $2.2M76 |
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $35.1M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2022 | $1.6M | $1.6M |
| 2021 | $33.5M | $33.5M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
- Dec 5, 2022Raised $460,200 in a private offering of equity77 Form D: 1 investor so far Form D
- Dec 5, 2022Filed a private offering of equity78 Form D: $85,500 offered in all Form D
- Oct 24, 2022Raised $285,000 in a private offering of equity79 Form D: 1 investor so far Form D
- Oct 7, 2022Raised $850,000 in a private offering of debt80 Form D: 1 investor so far Form D
- Jul 19, 2022Filed a private offering of equity81 Form D: $5 million offered in all Form D
- Oct 29, 2021Raised $3.5 million in a private offering of equity45 Form D: 1 investor so far Form D
- Oct 29, 2021Raised $30 million in a private offering of equity82 Form D: 1 investor so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Geode Capital Management, LLC | 3,889,529 | $14.0M | 0.0% | +1,204,091 |
| BlackRock, Inc. | 8,330,254 | $11.2M | 0.0% | +7,545,266 |
| Nuveen, LLC | 5,577,158 | $7.5M | 0.0% | New |
| Vident Advisory, LLC | 5,227,200 | $7.1M | 0.1% | +5,160,797 |
| Vanguard Capital Management LLC | 4,661,391 | $6.3M | 0.0% | +4,034,537 |
| J. Goldman & Co LP | 2,384,409 | $3.2M | 0.1% | New |
| State Street Corp | 1,824,507 | $2.5M | 0.0% | +1,531,831 |
| Marshall Wace, Llp | 1,695,300 | $2.3M | 0.0% | +1,108,267 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 1,029,709 | $1.4M | 0.0% | +233,057 |
| UBS Group AG | 999,446 | $1.3M | 0.0% | +109,143 |
| Alpine Fox Capital LLC | 750,882 | $1.0M | 0.6% | New |
| Northern Trust Corp | 737,906 | $996.2K | 0.0% | +634,991 |
| Vanguard Portfolio Management LLC | 708,284 | $956.2K | 0.0% | New |
| Vanguard Fiduciary Trust Co | 525,459 | $709.4K | 0.0% | +231,869 |
| Renaissance Technologies LLC | 452,600 | $611.0K | 0.0% | −382,677 |
| Tru Independence Asset Management 2, LLC | 430,738 | $581.5K | 0.3% | New |
| Yorkville Advisors Global, LP | 335,976 | $453.6K | 0.5% | No change |
| Bank of New York Mellon Corp | 261,551 | $353.1K | 0.0% | New |
| Charles Schwab Investment Management Inc | 255,611 | $345.1K | 0.0% | New |
| Scoggin Management LP | 250,000 | $337.5K | 0.1% | New |
| Voya Investment Management LLC | 244,725 | $330.4K | 0.0% | New |
| Millennium Management LLC | 220,696 | $297.9K | 0.0% | New |
| Peak6 LLC | 145,000 | $195.8K | 0.0% | New |
| XTX Topco Ltd | 142,521 | $192.4K | 0.0% | +55,832 |
| Morgan Stanley | 137,558 | $185.7K | 0.0% | +133,885 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Soluna Holdings, Inc is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARSoluna Holdings, Inc1
- CIK0000064463
- Employer ID (EIN)14-14622554
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inNevada4
- Fiscal year endsDecember 311
- Industry code (SIC)6199 Finance Services1
- SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
- Business address325 Washington Avenue Extension, Albany, NY 122051
- Phone518-218-25001
- Shares outstanding244,590,575 as of Aug 10, 202612
- Public float$8.3M as of Jun 30, 20254
- AuditorUHY LLP, Albany, New York PCAOB ID 1195; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceFeb 14, 19951
- Filings1,576 in all: 4 (590), 8-K (355), 10-Q (87), 3 (38), DEF 14A (33), SC 13D/A (30), 10-K (29), 4/A (25)1
All 74 form types
CORRESP (25), UPLOAD (24), S-1/A (21), PRE 14A (20), SC 13G/A (20), 10-K/A (18), EFFECT (17), 144 (16), S-8 (16), 424B5 (15), SC 13G (13), 424B3 (11), D (10), S-3 (10), S-3/A (10), S-1 (9), 11-K (8), 5 (8), S-8 POS (8), 3/A (7), DEFA14A (7), SC 13D (7), SCHEDULE 13G (7), POS AM (6), SD (5), 424B7 (4), AW (4), S-2/A (4), 10-Q/A (3), 5/A (3), 8-K/A (3), RW (3), 10-12G (2), 10-12G/A (2), 424B4 (2), 8-A12B (2), ARS (2), CERT (2), CT ORDER (2), DRS (2), NT 10-K/A (2), PRER14A (2), S-2 (2), SC TO-I/A (2), SCHEDULE 13G/A (2), 10-C (1), 10-QT (1), 15-12G (1), 25 (1), 40-6C/A (1), 424B1 (1), 424B8 (1), 8-A12G (1), 8-A12G/A (1), APP WD (1), DEFC14A (1), DEFS14A (1), FWP (1), NT 10-K (1), PREC14A (1), PREM14A (1), PRES14A (1), S-1MEF (1), SC 13E3 (1), SC 13E3/A (1), SC TO-I (1)
- Latest filingsAnnual report (10-K) Mar 30, 2026
Quarterly report (10-Q) Aug 13, 2026
Proxy statement (DEF 14A) Aug 24, 2026
Latest 8-K (8-K) Sep 28, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| 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 |
From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Soluna Holdings, Inc names in Item 1A of its 10-K filed Mar 30, 2026: 66 risks under these headings, as written.4
- Risks Relating to the Company and its Growth Strategy
- Our recurring losses from operations will require additional capital to support our business and objectives and grow our business.
- We have a limited operating history and we may not recognize operating income in the future.
- We have financed our strategic growth primarily by issuing new shares of our common stock in public offerings and the issuance of debt, and plan to raise additional capital through similar offerings in the future, and our inability to do so on favorable terms may adversely affect our operations and the market price of our securities.
- If we cannot achieve or maintain profitability, stockholders could lose all or part of their investment.
- Our level of existing debt may negatively impact our liquidity, restrict our operations and ability to respond to business opportunities, and increase our vulnerability to adverse economic and industry conditions.
- Soluna AL CloudCo, LLC, a wholly owned subsidiary of Soluna Cloud, Inc. may be unable to meet its remaining obligations under the terminated HPE Agreement which could lead to a default under that agreement.
- We may be unable to refinance our indebtedness at maturity or the refinancing terms may be less favorable than the terms of our original indebtedness.
- Joint ventures, joint ownership and strategic partner arrangements and other projects pose unique challenges, and we may not be able to fully implement or realize synergies, expected returns or other anticipated benefits associated with such projects.
- We may not be able to timely complete our future strategic growth initiatives or within our anticipated costs estimates, if at all.
- We may have difficulty in obtaining banking services for our cryptocurrency activities.
- Our business plan is heavily dependent upon acquisitions and strategic alliances and our ability to identify, acquire or ally on appropriate terms, and successfully integrate and manage any acquired companies or alliances will impact our financial condition and operating results.
The other 55 risks
- We are subject to risks associated with our need for significant electrical power.
- Global economic and geopolitical events, policies and conflicts may adversely affect our business, financial condition, and results of operations.
- If we fail to effectively manage our growth, our business, financial condition, and results of operations could be harmed.
- Our new services and changes to existing services could fail to attract or retain users or generate revenue and profits, or otherwise adversely affect our business.
- We have concentrated our operations and, thus, are particularly exposed to changes in the regulatory environment, market conditions and natural disasters in the state of Texas where our data centers are located.
- Risks Related to our Bitcoin Mining and Hosting Business
- Our success depends on external factors affecting the Bitcoin industry.
- Our profitability depends on Bitcoin prices and the stability of Digital Asset markets, which are highly volatile and largely unregulated.
- Regulatory changes or actions may alter the nature of an investment in us or restrict the use of cryptocurrencies in a manner that adversely affects our business, prospects, or operations.
- Our interactions with a blockchain may expose us to specially designated nationals (“SDNs”) or blocked persons and new legislation or regulation could adversely impact our business or the market for cryptocurrencies.
- Security breaches and irreversible transactions could result in the loss of our cryptocurrencies.
- Uncertainty around the adoption, use, and global demand for cryptocurrencies could adversely affect our business.
- Because most of our and our hosted customers’ miners are designed specifically to mine Bitcoin and may not be readily adaptable to mining other cryptocurrencies, a sustained decline in Bitcoin’s value could adversely affect our business and results of operations.
- Our data center business could be harmed by prolonged power outages, power and fuel shortages, capacity constraints and increases in power costs.
- Our properties may experience damages, including damages that are not covered by insurance.
- Our reliance on a third-party mining pool service provider for our mining revenue payouts may have a negative impact on our operations. The same may be true in the case of our hosted customers.
- Declining block rewards, reliance on transaction fees, and network forks could adversely affect our mining operations.
- Climate change and evolving regulations could adversely impact our business.
- We may be affected by price fluctuations in the wholesale and retail power markets.
- The development and acceptance of competing blockchain platforms or technologies may cause consumers to use alternative distributed ledgers or other alternatives.
- We have an evolving business model which is subject to various uncertainties.
- Risks Related to our HPC/AI Business
- We may be unable to secure, develop, finance, construct, commission and operate HPC and AI data center projects on the timetable or economics we expect.
- Our HPC and AI data center business is subject to rapid changes in customer requirements, technology standards and infrastructure design, which may increase costs, delay development or make our facilities less competitive.
- We may be unable to procure, install or integrate specialized equipment required for HPC and AI workloads, including electrical, cooling, networking and other long-lead-time components, on acceptable terms or at all.
- Tariffs, trade restrictions, import duties, export controls and other changes in trade policy may increase our capital costs, disrupt our supply chain and adversely affect the development and operation of our data centers.
- Risks Related to our Company Generally
- Our business has and is expected to continue to have significant customer concentration.
- Failure to attract, grow and retain a diverse and balanced customer base, including key magnet customers, could harm our business and operating results.
- We are heavily dependent on our senior management, and a loss of a member of our senior management team could cause the market prices of our securities to suffer.
- We depend upon third-party suppliers for power, and we are vulnerable to service failures and price increases by such suppliers and to volatility in the supply and price of power in the open market.
- Our confidentiality agreements with employees and others may not adequately prevent disclosure of our trade secrets and other proprietary information, which could limit our ability to compete.
- We may not be able to compete with other companies, some of which have greater resources and experience.
- Our business model depends upon the demand for data centers.
- We rely on highly skilled personnel and the continuing efforts of our executive officers and, if we are unable to retain, motivate or hire qualified personnel, our business may be severely disrupted. In addition, increased labor costs and the unavailability of skilled workers could hurt our business, financial condition, and results of operations.
- Insiders continue to have substantial control over the Company.
- We are subject to complex environmental, health and safety laws and regulations that may expose us to significant liabilities for penalties, damages or costs of remediation or compliance.
- We could incur significant costs related to environmental matters, including from government regulation, private litigation, and existing conditions at some of our properties.
- Provisions in our Articles (as defined below), our Bylaws (as defined below), and Nevada law may discourage a takeover attempt even if a takeover might be beneficial to our stockholders.
- General Risk Factors
- We may become subject to claims of infringement or misappropriation of the intellectual property rights of others, which could prohibit us from selling our products, require us to obtain licenses from third parties or to develop non-infringing alternatives, and subject us to substantial monetary damages and injunctive relief.
- If we are unable to protect our information systems against service interruption or failure, misappropriation of data or breaches of security, our operations could be disrupted, we could be subject to costly government enforcement actions and private litigation and our reputation may be damaged.
- Our risk management process may not identify all risks that we are subject to and will not eliminate all risk.
- Our officers and directors are indemnified against certain conduct that may prove costly to defend.
- We incur significant costs as a result of operating as a public company.
- Certain natural disasters or other external events, including climate change or mechanical failures, could harm our business, financial condition, results of operations, cash flows, and prospects.
- We may become involved in litigation arising in the ordinary course of our business that may materially adversely affect us.
- If we fail to maintain effective internal controls, we may not be able to report financial results accurately or on a timely basis, or to detect fraud, which could have a material adverse effect on our business or share price.
- If our estimates or judgments relating to our critical accounting policies are based on assumptions that change or prove to be incorrect, our results of operations could fall below the expectations of investors, resulting in a decline in the market price of our common stock.
- Public health crises, such as pandemics, epidemics, or widespread outbreaks of infectious disease, have had, and could in the future have, an adverse effect on our business, financial condition, and results of operations.
- Changes in accounting rules and regulations, or interpretations thereof, could result in unfavorable accounting charges or require us to change our compensation policies.
- Risks Related to Our Securities
- The market price of our securities are likely to be volatile, which may cause investment losses for our shareholders.
- Because there has been limited precedent set for financial accounting of Bitcoin and other cryptocurrency assets, the determination that we have made for how to account for cryptocurrency assets transactions may be subject to change.
- If we are not able to comply with the applicable continued listing requirements or standards of Nasdaq, Nasdaq could delist our common stock or Series A Preferred Stock or broker-dealers may be discouraged from effecting transactions in shares of our securities.
- The rights of holders of our Series A Preferred Stock and Series B Preferred Stock (as defined below) rank senior to the rights of the holders of our common stock.
- We do not anticipate paying dividends on our common stock, and investors may lose the entire amount of their investment.
- If securities or industry analysts do not publish research or reports about our business, or if they issue an adverse or misleading opinion regarding our stock, our stock price and trading volume could decline.
- Risks Related to the SEPA
- Substantial blocks of our common stock may be sold into the market as a result of our being party to the SEPA and you may experience immediate and substantial dilution in the net tangible book value per share of our common stock.
- It is not possible to predict the actual number of shares we will sell under the SEPA, or the actual gross proceeds resulting from those sales.
Legal proceedings
At any point in time, we may be involved in various lawsuits or other legal proceedings. Such lawsuits could arise from the sale of products or services or from other matters relating to our regular business activities, compliance with various governmental regulations and requirements, or other transactions or circumstances.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 18SEC EDGARPeng K. Lim, Chief executive officer
- 19SEC EDGARPeng K. Lim, Chair
- 20SEC EDGARMoshe Binyamin, President
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- 32SEC EDGARWilliam Hazelip, Board member
- 33SEC EDGARAlykhan Madhavji, Board member
- 34SEC EDGARMatthew E. Lipman, Board member
- 35SEC EDGARJohn Bottomley, Board member
- 36SEC EDGAREdward R. Hirshfield, Board member
- 37SEC EDGARDavid C. Michaels, Board member
- 38SEC EDGARKevin G. Lynch, Board member
- 39SEC EDGARDale W. Church, Board member
- 40SEC EDGARE. Dennis Oconnor, Board member
- 41SEC EDGAREdward A. Dohring, Board member
- 42SEC EDGARWalter L. Robb, Board member
- 43SEC EDGARThomas J. Marusak, Board member
- 44SEC EDGARWilliam P. Phelan, Board member
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- 46SEC EDGARRegulation FD disclosure
- 47SEC EDGARRegulation FD disclosure
- 48SEC EDGARRegulation FD disclosure
- 49SEC EDGARRegulation FD disclosure
- 50SEC EDGARRegulation FD disclosure
- 51SEC EDGARRegulation FD disclosure
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- 53SEC EDGARRegulation FD disclosure
- 54SEC EDGARRegulation FD disclosure
- 55SEC EDGARExecutive or director change
- 56SEC EDGARRegulation FD disclosure
- 57SEC EDGARRegulation FD disclosure
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