Soluna Holdings, Inc. · NASDAQ:SLNH
Soluna — Merger or Acquisition (April 2026)
14 slides from Soluna's merger presentation, Apr 16, 2026
Slide 1: Soluna Acquires Full Ownership of Dorothy 1A, Accelerates Vertical Integration & AI Development
= Soluna Acquires Full Ownership of Dorothy 1A, John Belizaire, CEO April 16, 2026 Accelerates Vertical Integration & AI Development Nasdaq: SLNH 1 | Nasdaq: SLNH | CONFIDENTIAL & PROPRIETARY
Slide 2: Preamble
Preamble The following content is Our goal is to share with you The content is in line with our completely qualified by the some of our strategic thinking and principles of being legal disclosures on the slide financial analysis we are using to accountable and transparent following this one. guide the
Slide 3: Legal Disclosure & Disclaimer
Legal Disclosure & Disclaimer This presentation is being furnished by Soluna Holdings, Inc. (“Soluna” or the “Company”) (NASDAQ: SLNH) in conjunction with the acquisition of Class B Membership Interests in Dorothy 1A. This presentation should be read in conjunction with the Company’s Current Report
Slide 4: Soluna's acquisition of Dorothy 1A follows a series of deliberate steps
AT A GLANCE Site Control: This Speed to Power Soluna’s acquisition acquisition brings Soluna to Advantage: Dorothy is 100% ownership of D1A, already powered and of Dorothy 1A eliminating shared equity and interconnected via the follows a series of giving the company unilateral Briscoe wind farm, whi
Slide 5: Financial Overview: $16.5M Purchase Price
PURCHASE PRICE Financial Overview $16.5M The Financing Structure Transaction Summary The $16.5 million acquisition will be Soluna previously held 14.6% of the INTERESTS ACQUIRED paid in cash in two installments. The Class B Membership Interests in transaction was financed through an Dorothy 1A and 10
Slide 6: Scaling A Proven Model
Scaling A Proven Model 1 2 3 VALIDATE INTEGRATE = EXPAND Renewable Vertical integration AI expands the Computing TM is proven consolidates control. platform and operating Project Dorothy is already Briscoe secured the energy. Full ownership of Dorothy 1A unlocks powering compute with Dorothy 1A secu
Slide 7: Path to Full Ownership at Project Dorothy
Path to Full Ownership at Project Dorothy COMPLETE UNDERWAY IN DEVELOPMENT = Briscoe Wind Farm Dorothy 1B Dorothy 3 100% Soluna Owned 25 MW. Discussions underway. 150–300 MW. AI-focused campus on 150 MW. Powers the entire Dorothy 300-acre adjacent parcel. campus. Acquired April 1, 2026. Dorothy 2 Pl
Slide 8: Project Dorothy 3
FUNDAMENTALS Project Dorothy 3 TARGET CAPACITY POWER SOURCE 150-300 MW Wind LINE OF BUSINESS LAND AI 300 Acres Expansion of Renewable-Powered AI Infrastructure With full ownership of the 150 MW wind farm, ERCOT grid access, and additional contracted sources, Dorothy 3 is expected to support 150 MW+
Slide 9: Our Data Center Projects
ProjectA Location Power Size Model Status 1 Power Cost Partner(s) Our Data Dorothy 1A TX Source Wind (MW) 25 BTC Hosting Operating $35 N/A Center Projects Dorothy 1B TX Wind 25 BTC Mining Operating $35 Navitas Sophie KY Grid 25 BTC Hosting Operating $33 N/A We have over 1GW of Dorothy 2 TX Wind 48 B
Slide 10: Scaling Renewable Computing to power the next generation of infrastructure
Scaling Renewable Computing to power the next generation of infrastructure TOTAL PIPELINE 4.3GW+ = AI PIPELINE Kati 2 Dorothy 3 Greenfield Sites Up to 300 MW+ Up to 300 MW+ MULTIPLE In development with Metrobloks, Next-generation AI campus to be Early-stage pipeline of leveraging secured renewable de
Slide 11: Soluna is the power<>compute convergence
Soluna is the power<>compute convergence – using curtailed renewable energy to power advanced computing infrastructure. 11 | Nasdaq: SLNH | CONFIDENTIAL & PROPRIETARY
Slide 12: Renewable Computing: wasted energy opportunity
To reach their Renewable full potential AI Energy has a & HPC need wasted energy a sustainable opportunity energy source RENEWABLE COMPUTING: Using compute itself to bridge the supply gap needed to power massively increased compute. 12 | Nasdaq: SLNH | CONFIDENTIAL & PROPRIETARY
Slide 13: Learn more at solunacomputing.com
Learn more at solunacomputing.com 13 | Nasdaq: SLNH | CONFIDENTIAL & PROPRIETARY
Slide 14: Connect With Us
CONNECT WITH US X / Twitter LinkedIn Newsletter @SolunaHoldings Soluna Holdings bit.ly/solunasubscribe 14 | Nasdaq: SLNH | CONFIDENTIAL & PROPRIETARY