🇺🇸 SECSoluna Holdings Inc.Doubao · 实盘不做把握 6/10不做原因:风险收益比不佳
北京时间·🕒 发布 19:30:38·⟳ 抓取 19:31:08 +30s·⚡ 决策 09-14 20:31:19 +1h00m·43.0 天前
Soluna 旗下 Project Dorothy 100MW 获 ERCOT Batch Zero 有条件 Base Load 分类,另50MW扩容已在研究中
方向虽正面,但本质是对既有behind-the-meter运营事实的监管追认、无现金流量级增量;一周内第二次同类Batch Zero公告、边际新鲜感低;同公司Kati先例首日冲高后三日回吐转负,当前盘前已-4.2%、市场不奖励该消息;叠加294m微盘亏损股、距52周高-77%的下行通道与FOMC宏观不确定性,追高无正期望。
📄 原文Soluna Holdings Inc.↗ 原文
----- form8-k.htm ----- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT…
不做 Soluna Holdings, Inc.(SLNH.US)
有条件Base Load是对存量behind-the-meter运营的监管追认、无收入/合同增量,且为一周内第二次同类公告;盘前-4.2%、Kati先例首日冲高后第3日转-3.3%,追高风险收益比不足;待ERCOT正式确认或Dorothy 3 AI客户签约等可量化催化再评估
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
ERCOT有条件Base Load分类提升了Soluna德州266MW存量负荷的互联确定性,但无新增合同或收入,且是一周内第二份同类公告;盘前-4.2%叠加Kati先例冲高回落,判定无交易edge,回避。
消息传播链
- 公司在美东盘前通过SEC法定披露首发Dorothy 100MW有条件Base Load分类
- 快讯约10分钟后转载,未见官方否认或增量信息市场反应:截至08:27 ET盘前价1.14、较前收1.19下跌约-4.2%,盘前量约9.3万股,市场对该利好反应为负
关键理由
- 两个园区266MW获有条件Base Load分类,豁免进一步可靠性评估/MW分配,巩固存量产能并为Dorothy 3(300MW AI/HPC)扩产铺路
- ERCOT排队超438,000MW大负荷请求(约90%来自数据中心)背景下,已落地的behind-the-meter电力接入具备稀缺性叙事
主要风险
- 分类仅为有条件,ERCOT验证未通过可被移出Batch Zero;且属监管追认非新订单,无法量化业绩增量
- 上周Kati同类公告后+5.8%→第3日-3.3%呈见光死,本次盘前已-4.2%,微盘亏损股流动性差、2日后FOMC放大波动
反向证据
- 做多前查反向 · 来源 web · 日期 2026-09-14 · 影响 weakens
分类明确为conditional,ERCOT可因未响应信息请求将项目移出;公司为亏损微盘(PE -0.5)、距52周高-77%、13周轨迹持续下行,无新订单/收入对冲
检索:Soluna SLNH 近期利空 下调 融资 稀释 风险 Batch Zero conditional removal 原文 ↗
先例如何影响了这次决策
对本次决策的影响:强化回避:第二次同类公告边际新鲜感下降且先例不支持持有3日以上,不给ENTER;若右侧需等正式确认或AI客户订单等新事实
方向:唯一对齐先例首日正向但胜率样本仅1(置信区间极宽),且第3日转负、超额为负,方向不具持续性
涨幅量级:clean_n=0且decision_grade无合格样本(锚前已异动+11.1%、盘中无分钟bar、相位不对齐),不足以据此设定tp/sl幅度
形态:冲高回落/见光死:公告日收1.27、次日开1.27→收1.24、第3日收1.16;本次盘前更已直接下跌-4.2%
历史先例(按相似度)
- 相似度 8/10 SLNH 2026-09-08 一周前Soluna宣布Kati完工并获全部166MW有条件Base Load分类,公告日盘中发出 原文 ↗
事件后 +1日 -3.0% · +2日 -5.3% · +3日 -11.4% · +4日 -9.2%
⚠来源层级不符(声明wire/实为media)·锚前1-2日已异动11.1%>锚定日3.0%·未核对目标相位 — 该行涨幅别用来定止盈止损
相似度依据:同一公司、同一ERCOT Batch Zero/Base Load机制、同为有条件分类,仅园区(Kati 166MW vs Dorothy 100MW)与相位(盘中通稿vs盘前8-K)不同
经验:同机制首批公告首日+5.8%但第3日转-3.3%(超额-1.7%),呈典型冲高回落/见光死;第二次同类公告边际效应更弱
工具执行结果 · 成功 3 · 降级 1 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 22 ms
{"result": "search_processed_events:agent query=`slnh project kati 166 mw base load conditional classification ercot | soluna holdings ercot batch zero project dorothy base load 100 mw`;结构化索引覆盖完整 72 小时;旧记录兼容扫描近 0.0/72 小时、0 条本臂决策(完整),返回 0 条候选。未命中只表示这些 agent query 表达式没有召回候选,不能据此证明消息首发或不是重复;按当前事件继续正常研判 - stock_quote 成功 stock_tools HTTP · 1,574 ms
{ - web_search 成功 doubao_search · 1,865 ms
豆包搜索结果(原始查询:Soluna Holdings Project Kati ERCOT Batch Zero Base Load 166 MW announcement stock reaction;API SearchType:web) - event_study 降级 stock_tools HTTP · 37 ms
0 precedent(s) rejected; 1 benchmark warning(s)
原文全文
展开原文 · 8,987 字
----- form8-k.htm -----
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):
September 14, 2026
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 September 14, 2026, Soluna Holdings, Inc. issued a press release announcing
that ERCOT has conditionally classified its 100 MW Project Dorothy campus as Base Load in Batch Zero. A copy of the press release is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.
The
information in this Current Report on Form 8-K under Item 7.01, including the information contained in Exhibit 99.1, is being furnished
to the Securities and Exchange Commission, and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities
Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, and shall not be deemed
to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by a specific reference in such filing.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
99.1
Press Release, dated September 14, 2026
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:
September 14, 2026
By:
/s/
Michael Picchi
Michael
Picchi
Chief
Financial Officer
(principal
financial officer)
----- ex99-1.htm -----
EX-99.1
2
ex99-1.htm
EX-99.1
Exhibit
99.1
Soluna
Secures Conditional Base Load Position for Project Dorothy’s 100 MW in ERCOT Batch Zero
An
additional 50 MW request at the campus is already under study
ALBANY,
NY, September 14, 2026
–
Soluna Holdings, Inc
. (“Soluna” or the “Company”) (NASDAQ: SLNH), a
developer of green data centers for intensive computing applications, including AI and Bitcoin mining, today announced that ERCOT has
conditionally classified its 100 MW Project Dorothy campus as Base Load in Batch Zero. The classification follows last week’s conditional
Base Load position for the full 166 MW at Project Kati.
“We
put the load at the generation instead of waiting years in an interconnection queue,” said John Belizaire, CEO of Soluna. “Dorothy
has run that way from the start. That is why 266 megawatts across both of our Texas campuses is now conditionally classified as base
load, and why we can keep growing at Dorothy from a position of strength.”
Soluna
has formally submitted a load interconnection request to the transmission and distribution service provider for an additional 50 MW at
the Dorothy site. The request falls below the Batch Zero threshold and the provider is studying it directly, which it has confirmed is
underway.
Batch
Zero is ERCOT’s transitional process for evaluating large load interconnection requests system-wide, replacing the prior project-by-project
approach. A Base Load classification preserves a project’s interconnection capacity based on prior study work and exempts it from
further reliability evaluation or megawatt allocation within the study. ERCOT reported more than 438,000 MW of large load requests
in the queue as of mid-2026, nearly 90 percent of them from data centers.
The
classification is conditional pending completion of ERCOT’s ongoing verification process, under which ERCOT may remove a project
from Batch Zero if the applicant does not respond to its information requests. Soluna is participating in the verification process and
expects ERCOT to confirm the classification.
Project
Dorothy is a 100 MW wind-powered campus in Briscoe County, Texas, built behind the meter at the 150 MW Briscoe Wind Farm, which Soluna
acquired in April 2026. Dorothy 1 and Dorothy 2 account for 98 MW of energized capacity. Project Dorothy 3, the 300 MW next phase on
the campus, is designed for AI and high-performance computing.
Soluna’s
total operating capacity is approximately 206 MW, and the Company continues to advance a development pipeline of approximately 6.3 GW.
For
more information, visit
www.solunacomputing.com
.
Safe
Harbor Statement
This
announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking statements include all statements, other than statements of historical
fact, regarding our current views and assumptions with respect to future events regarding our business, including the final classification
of the Project Dorothy campus in ERCOT’s Batch Zero process, the development of Project Dorothy, and the Company’s development
pipeline. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates,” “confident,”
and similar statements. Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities
and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials, and
in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including
but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties, further information regarding which is included in the Company’s filings with the SEC.
All information provided in this press release is as of the date of the press release, and Soluna undertakes no duty to update such information,
except as required under applicable law.
About
Soluna Holdings, Inc. (Nasdaq: SLNH)
Soluna
is on a mission to make renewable energy a global superpower, using computing as a catalyst. The Company designs, develops, and operates
digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna’s pioneering data centers
are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including
Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna’s proprietary software MaestroOS™ helps energize
a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com
and follow us 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 posts important information on its website and encourages investors and potential investors to consult the Soluna investor
relations and investor resources sections of its website regularly.
Contact
Public
Relations
West
of Fairfax for Soluna
Soluna@westof.co
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):
September 14, 2026
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 September 14, 2026, Soluna Holdings, Inc. issued a press release announcing
that ERCOT has conditionally classified its 100 MW Project Dorothy campus as Base Load in Batch Zero. A copy of the press release is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.
The
information in this Current Report on Form 8-K under Item 7.01, including the information contained in Exhibit 99.1, is being furnished
to the Securities and Exchange Commission, and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities
Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, and shall not be deemed
to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by a specific reference in such filing.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
99.1
Press Release, dated September 14, 2026
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:
September 14, 2026
By:
/s/
Michael Picchi
Michael
Picchi
Chief
Financial Officer
(principal
financial officer)
----- ex99-1.htm -----
EX-99.1
2
ex99-1.htm
EX-99.1
Exhibit
99.1
Soluna
Secures Conditional Base Load Position for Project Dorothy’s 100 MW in ERCOT Batch Zero
An
additional 50 MW request at the campus is already under study
ALBANY,
NY, September 14, 2026
–
Soluna Holdings, Inc
. (“Soluna” or the “Company”) (NASDAQ: SLNH), a
developer of green data centers for intensive computing applications, including AI and Bitcoin mining, today announced that ERCOT has
conditionally classified its 100 MW Project Dorothy campus as Base Load in Batch Zero. The classification follows last week’s conditional
Base Load position for the full 166 MW at Project Kati.
“We
put the load at the generation instead of waiting years in an interconnection queue,” said John Belizaire, CEO of Soluna. “Dorothy
has run that way from the start. That is why 266 megawatts across both of our Texas campuses is now conditionally classified as base
load, and why we can keep growing at Dorothy from a position of strength.”
Soluna
has formally submitted a load interconnection request to the transmission and distribution service provider for an additional 50 MW at
the Dorothy site. The request falls below the Batch Zero threshold and the provider is studying it directly, which it has confirmed is
underway.
Batch
Zero is ERCOT’s transitional process for evaluating large load interconnection requests system-wide, replacing the prior project-by-project
approach. A Base Load classification preserves a project’s interconnection capacity based on prior study work and exempts it from
further reliability evaluation or megawatt allocation within the study. ERCOT reported more than 438,000 MW of large load requests
in the queue as of mid-2026, nearly 90 percent of them from data centers.
The
classification is conditional pending completion of ERCOT’s ongoing verification process, under which ERCOT may remove a project
from Batch Zero if the applicant does not respond to its information requests. Soluna is participating in the verification process and
expects ERCOT to confirm the classification.
Project
Dorothy is a 100 MW wind-powered campus in Briscoe County, Texas, built behind the meter at the 150 MW Briscoe Wind Farm, which Soluna
acquired in April 2026. Dorothy 1 and Dorothy 2 account for 98 MW of energized capacity. Project Dorothy 3, the 300 MW next phase on
the campus, is designed for AI and high-performance computing.
Soluna’s
total operating capacity is approximately 206 MW, and the Company continues to advance a development pipeline of approximately 6.3 GW.
For
more information, visit
www.solunacomputing.com
.
Safe
Harbor Statement
This
announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking statements include all statements, other than statements of historical
fact, regarding our current views and assumptions with respect to future events regarding our business, including the final classification
of the Project Dorothy campus in ERCOT’s Batch Zero process, the development of Project Dorothy, and the Company’s development
pipeline. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates,” “confident,”
and similar statements. Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities
and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials, and
in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including
but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties, further information regarding which is included in the Company’s filings with the SEC.
All information provided in this press release is as of the date of the press release, and Soluna undertakes no duty to update such information,
except as required under applicable law.
About
Soluna Holdings, Inc. (Nasdaq: SLNH)
Soluna
is on a mission to make renewable energy a global superpower, using computing as a catalyst. The Company designs, develops, and operates
digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna’s pioneering data centers
are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including
Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna’s proprietary software MaestroOS™ helps energize
a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com
and follow us 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 posts important information on its website and encourages investors and potential investors to consult the Soluna investor
relations and investor resources sections of its website regularly.
Contact
Public
Relations
West
of Fairfax for Soluna
Soluna@westof.co
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