Soluna Holdings Appoints David Michaels as Interim CFO Following John Tunison’s Resignation

Soluna Holdings, Inc. (NASDAQ: SLNH), a developer of green data centers for intensive computing applications such as Bitcoin mining and artificial intelligence, has announced the resignation of its Chief Financial Officer and Treasurer, John Tunison, effective August 21st. Tunison is leaving to take on a similar role at a privately held company. “John Tunison has been a key contributor to Soluna’s progress through multiple milestones and challenges,” said John Belizaire, CEO of Soluna. “He has been a trusted partner to our leadership team and has helped lay the foundation for our next phase of growth. We sincerely wish him success in his new role.” During his tenure, Tunison played a vital role in shaping the company’s financial strategy, supporting capital raises, and advancing Soluna’s mission to leverage renewable energy for high-performance computing. His departure is not the result of any disagreement with the company, including matters related to accounting practices, financial reporting, or corporate policies. David Michaels, a long-standing member of Soluna’s board who has served in multiple leadership capacities—including Chairman of the Board, Lead Independent Director, and Chairman of the Audit Committee—has been appointed interim CFO and Treasurer. Michaels previously served as interim CFO in 2023 and brings over 30 years of financial leadership experience. He has held senior executive roles at Albany International Corp. (NYSE: AIN), the American Institute for Economic Research, and Starfire Systems, Inc. Soluna emphasized that the transition is smooth and part of its ongoing governance strategy. The company remains committed to maintaining strong financial oversight and transparency during this period. This announcement contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially. Words such as “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar terms identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties detailed in Soluna’s filings with the U.S. Securities and Exchange Commission. The company undertakes no obligation to update these statements except as required by law. Soluna Holdings, Inc. is on a mission to make renewable energy a global superpower by using computing as a catalyst. The company designs, develops, and operates data centers that are co-located with wind, solar, and hydroelectric power sources to support compute-intensive applications like Bitcoin mining and generative AI. Its proprietary MaestroOS™ software optimizes the use of surplus renewable energy, enabling sustainable, cost-effective computing and superior returns for stakeholders. For more information, visit solunacomputing.com and follow Soluna on: LinkedIn: linkedin.com/company/solunaholdings X (formerly Twitter): x.com/solunaholdings YouTube: youtube.com/c/solunacomputing Newsletter: bit.ly/solunasubscribe Resource Center: solunacomputing.com/resources Soluna regularly shares updates through its investor relations website and encourages stakeholders to stay informed by visiting the investor relations and resources sections.