Soluna Holdings, Inc. (SLNH) agreed with affiliates of Applied Digital Corporation to form a jointly owned company for the planned Dorothy 3A data center in Briscoe County, Texas. At closing, Soluna Investor would hold 49% and Applied Investor 51% of the project company. The project is described as approximately 75 megawatts of gross capacity, including 50 megawatts of Critical I.T. capacity.
Soluna's ground sublease is attributed a value of $18,750,000, and Soluna STX would contribute a newly formed holding company. Applied Investor would contribute $19,515,306 in cash, subject to dollar-for-dollar credits for certain pre-closing development work and equipment. Closing is expected on or before December 1, 2026, subject to conditions including a tax abatement vote, approvals, final agreements and title insurance. If closing fails and the Subscription Agreement is terminated, Soluna Investor must reimburse Applied Investor for 80% of Funded Costs, up to $45 million. At closing, Soluna is expected to issue a warrant for up to 7,644,444 common shares at $0.74 per share, exercisable from issuance through its seven-year anniversary.
Soluna Holdings, Inc. (SLNH) entered a definitive agreement with Applied Digital Corporation to form a jointly owned company for a planned 50 MW critical IT data center for AI and HPC at Project Dorothy 3, near Silverton, Texas, and the Briscoe Wind Farm. Following closing, Applied is expected to hold a 51% interest in the project company and Soluna the remaining 49%. Soluna is expected to contribute part of the site, including land and power-related project assets, while Applied is expected to provide capital to support development.
Closing is expected by the end of the calendar year, subject to conditions including approval of a tax abatement in Briscoe County, receipt of title policies, corporate approvals, and execution of the project company operating agreement, definitive leases, power agreements and other agreements. Subject to definitive documentation, Phase 1 is expected to draw power from Briscoe Wind and the grid.
Soluna Holdings, Inc. (SLNH) announced that stockholders elected Dan Golding to its Board of Directors at the October 16, 2026 annual meeting. Golding has served on Soluna’s Advisory Board since November 2023 and has more than 30 years of experience in data centers and digital infrastructure, including leadership roles at Google and Iron Mountain. He is currently chief technology officer at ASG, formerly Appleby Strategy Group.
Soluna said Golding’s prior advisory work helped guide its approach to renewable-powered AI infrastructure. The company described his election as adding data-center engineering and operating experience to the Board as Soluna advances its AI development plans.
Soluna Holdings, Inc. (SLNH) increased its authorized common stock from 375,000,000 shares to 1,000,000,000 shares through a charter amendment approved by stockholders and effective immediately on October 16, 2026. The proposal received 144,378,143 votes for, 13,309,538 against and 496,920 abstentions.
Stockholders also approved the Exchange Cap Proposal for purposes of Nasdaq Listing Rule 5635(d), covering potential issuance of 20% or more of issued and outstanding common stock under the Standby Equity Purchase Agreement with YA II PN, Ltd.; the vote was 89,707,854 for, 5,440,475 against and 223,267 abstentions. William Hazelip, an independent Class III director, and non-independent Class III directors Michael Toporek and Daniel Golding were elected for three-year terms through the 2029 annual meeting. Stockholders also approved executive compensation on an advisory basis and ratified KPMG LLP as independent auditor for the year ending December 31, 2026.
Soluna Holdings, Inc. (SLNH) amended its agreement with Dory Creek, LLC, a wholly owned subsidiary of Bitdeer Technologies Group, for approximately 7 MW of additional Bitcoin mining equipment at Project Kati 1. Bitdeer’s total deployment there will be 35 MW and approximately 2.42 EH/s of hash rate.
The expansion is expected to be complete in November 2026. Project Kati 1 is an 83 MW wind-powered data center in South Texas, and the deployment is in its K1BC phase, which is now fully subscribed. Under the co-mining arrangement, Soluna provides the site, power and turnkey operations; Bitdeer provides and owns its Sealminer A2 Pro Air mining equipment; and the parties share the mining proceeds generated by the deployment. The amendment has the same structure as the original agreement.
Soluna Holdings, Inc. Chief Accounting Officer Jessica L. Thomas reported a sale of 30,000 shares of common stock on September 23, 2026, at $1.26 per share. The transaction is described as a sale in the open market or a private transaction. She directly held 1,481,417 shares after the sale. No Rule 10b5-1 plan is reported.
Soluna Holdings, Inc (SLNH) reported that Chief People Officer Mary Jennifer OReilly had 16,189 shares of common stock disposed of on September 1, 2026 as a payment of exercise price or tax liability by delivering or withholding securities. The shares were valued at $1.05 per share for this purpose, and she now holds 1,687,486 common shares directly following the transaction. No Rule 10b5-1 trading plan is reported for this filing.
Soluna Holdings, Inc (SLNH) reported that Chief Accounting Officer Jessica L. Thomas had 5,343 shares of common stock disposed of on September 1, 2026 to pay the exercise price or tax liability by delivering or withholding securities at a reported price of $1.05 per share. After this code F transaction, Thomas directly held 1,511,417 shares of Soluna common stock. No Rule 10b5-1 trading plan is reported for this transaction.
Soluna Holdings, Inc. (SLNH) disclosed that ERCOT has conditionally classified the 100 MW Project Dorothy campus as Base Load in Batch Zero, preserving its studied interconnection capacity and exempting it from further reliability evaluation or megawatt allocation within that study. This follows a prior conditional Base Load position for the full 166 MW at Project Kati, bringing the conditionally classified Base Load capacity across both Texas campuses to 266 MW. Soluna has also submitted a 50 MW load interconnection request for additional capacity at the Dorothy site, which is being studied directly by the transmission and distribution provider. Project Dorothy is a 100 MW wind-powered campus in Briscoe County, Texas, built behind the meter at the 150 MW Briscoe Wind Farm, and Dorothy 1 and 2 account for 98 MW of energized capacity. Soluna reports total operating capacity of approximately 206 MW and a development pipeline of about 6.3 GW, while participating in ERCOT’s ongoing verification process for the conditional classifications.
Soluna Holdings, Inc. (SLNH) reported that Chief Executive Officer John Belizaire will participate in the H.C. Wainwright 28th Annual Global Investment Conference under a Regulation FD communication. The company furnished a press release as Exhibit 99.1 describing his appearance on a panel about digital infrastructure for AI and Bitcoin.
The conference will be held in New York from September 14–16, 2026, and Belizaire is scheduled to join a panel titled “Powering The AI Boom & Bitcoin Network: The Digital Infrastructure Companies Leading the Charge” on September 14, 2026 at 2:00 PM ET. The information furnished is not deemed filed under the Exchange Act.