SLNH 8-K: Compass Mining Contract Renewed, Dorothy Campus Grows

Rhea-AI Filing Summary

Soluna Holdings, Inc. (Nasdaq: SLNH, SLNHP) filed a Form 8-K on 24 June 2025 to furnish information under Item 7.01 (Regulation FD). The company announced it has renewed and broadened its long-standing hosting agreement with Compass Mining. The renewal covers the existing Project Dorothy 1 facility and introduces a major expansion into the adjacent Project Dorothy 2, bringing Compass Mining’s total contracted deployment to about 13 MW of computing capacity across the two sites.

The disclosure is expressly furnished—not filed—meaning it is not subject to Section 18 liabilities and will not be automatically incorporated into other Exchange Act or Securities Act filings unless specifically referenced. No financial statements, pro-forma data, or detailed economic terms of the agreement were provided, and the filing includes only Exhibit 99.1 (the related press release) and the Inline XBRL cover page file.

Operationally, the expanded agreement suggests sustained demand for Soluna’s renewable-powered high-density computing infrastructure and could improve asset utilisation at the Dorothy campus. However, without revenue share, pricing, or duration details, investors cannot yet quantify the financial impact. Further clarity is expected in future earnings releases or 10-Q filings.

Positive

• Renewal and 13 MW capacity expansion with Compass Mining enhances utilisation at Project Dorothy campuses, signalling strong demand for Soluna’s hosting services.

Negative

• None.

Insights

Financial Analyst

TL;DR: Renewal plus 13 MW expansion with Compass Mining boosts utilisation at Dorothy campus; positive operational signal, but financial impact undisclosed.

Detailed Analysis: The 8-K discloses a refreshed and enlarged hosting partnership that now spans both Dorothy 1 and Dorothy 2, totalling roughly 13 MW. For context, Soluna’s previous public disclosures indicated installed capacity of roughly 50 MW system-wide, implying this contract could cover ~25% of total capacity—material from an operational standpoint. Because the item is furnished under Reg FD, management withholds granular economics, so investors lack visibility on incremental revenue, contract length, or margin contribution. Still, sustained collaboration with a recognised client like Compass Mining reduces vacancy risk, supports recurring cash flow potential, and validates Soluna’s curtailed-renewables business model. Absent negative information, the news skews positive but stops short of being transformative until dollar metrics are known.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 24, 2025

SOLUNA HOLDINGS, INC.

(Exact name of Registrant as Specified in Its Charter)

Nevada		001-40261		14-1462255
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

325 Washington Avenue Extension
Albany, New York		12205
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (516) 216-9257

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
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

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure

On June 24, 2025, Soluna Holdings, Inc. (“Soluna” or the “Company”) issued a press release announcing that it has renewed and expanded its long-standing partnership with Compass Mining, with a renewal at Soluna’s Project Dorothy 1 site and a major expansion into its adjacent site, Project Dorothy 2, for a total deployment of approximately 13 megawatts (MW) of computing capacity across the two locations. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

The information in this Item 7.01 of Form 8-K and in Exhibit 99.1 attached hereto will not be treated as “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. This information will not be incorporated by reference into any filing under the Securities Act of 1933 or into another filing under the Exchange Act, unless that filing expressly incorporates this information by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

99.1		Press Release, dated June 24, 2025
104		Cover Page Interactive Data File (embedded with the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SOLUNA HOLDINGS, INC.
Date: June 24, 2025	By:	/s/ John Tunison
		John Tunison
		Chief Financial Officer
		(principal financial officer)

FAQ

What did Soluna Holdings (SLNH) announce in its June 24 2025 Form 8-K?

The company renewed and expanded its Compass Mining partnership, adding about 13 MW of hosting capacity across Projects Dorothy 1 and Dorothy 2.

Which Soluna sites are included in the Compass Mining expansion?

Project Dorothy 1 (renewed) and the adjacent Project Dorothy 2 (new expansion).

How much additional computing capacity is involved?

The combined deployment totals approximately 13 MW.

Is the information in Item 7.01 considered "filed" under the Exchange Act?

No. It is furnished, not filed, and therefore not subject to Section 18 liabilities.

Did the 8-K disclose any financial terms of the Compass Mining agreement?

No detailed revenue, pricing, or duration terms were provided in the filing.