Soluna Holdings (SLNH) Announces CFO Resignation

Soluna Holdings, Inc. (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for Bitcoin mining and other intensive computing, announced today that it has accepted the resignation of its Chief Financial Officer, Philip Patman Jr., effective April 21, 2023. Mr. Patman is leaving to accept a similar position in his hometown of Houston, Texas.

Michael Toporek, CEO of Soluna Holdings, stated, “On behalf of Soluna, we want to thank Philip for his contributions to the team, including his leadership of Soluna's finance team. We wish him continued success in his new position."

David Michaels, a Company Director and Chairman of the Audit Committee will serve as interim CFO. Mr. Michaels is also a member of the Governance, Compensation & Nominating Committee and served as Board Chairman and Lead Independent Director at Soluna. He has more than 30 years of finance experience at public and private companies, including CFO roles at the American Institute for Economic Research, Inc. and Starfire Systems, Inc. and Vice President of Treasury, Tax and Chief Risk Officer at Albany International Corp. (NYSE: AIN). With this announcement, the Company will shortly be announcing realignments to its board committees.

Mr. Patman’s resignation is not the result of any dispute or disagreement with the Company including any matters relating to the Company’s practices, policies, accounting practices, or financial reporting.

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