SCHEDULE: Alpha Capital Anstalt Discloses 1.53% Stake in Soluna

Alpha Capital Anstalt has filed an amended Schedule 13G, reporting a 1.531% beneficial ownership stake in Soluna Holdings Inc. as of September 30, 2025.

Summary

• Alpha Capital Anstalt beneficially owns 1,045,318 shares of Soluna Holdings Inc. common stock.
• This represents 1.531% of the class, based on 68,265,626 shares outstanding as of October 22, 2025, as reported in a Form S-1 filed on October 27, 2025.
• Alpha Capital Anstalt holds sole voting power over 1,045,318 shares and sole dispositive power over 1,045,318 shares.
• The securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Soluna Holdings Inc.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing is a routine ownership disclosure, but the continued presence of an institutional investor is a minor positive signal. No negative information is presented.

Positives

• A significant institutional investor, Alpha Capital Anstalt, maintains a stake in Soluna Holdings Inc., indicating continued interest.
• The filing explicitly states the stake is not for influencing control, suggesting a passive investment.

Future Outlook

The filing does not provide any forward-looking statements or guidance from Soluna Holdings Inc. or Alpha Capital Anstalt regarding future performance or strategy.

Management Comments

• The filing includes a certification from Alpha Capital Anstalt stating that the securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer.

Industry Context

This filing is a routine disclosure of institutional ownership and does not provide specific insights into broader industry trends or competitive landscape. It reflects a passive investment by Alpha Capital Anstalt in Soluna Holdings Inc., a company operating in the digital asset mining and renewable energy sector.

Comparison to Industry Standards

• This filing is a standard Schedule 13G disclosure, which is a regulatory requirement for investors acquiring more than 5% of a company's stock (or less for certain institutional investors).
• The reported stake of 1.531% is below the 5% threshold typically associated with activist or significant influence, aligning with a passive investment strategy common among many institutional funds.
• No specific comparable companies or projects are mentioned in this ownership disclosure.

Stakeholder Impact

• Shareholders: Provides transparency regarding institutional ownership, confirming a passive stake by Alpha Capital Anstalt.

Next Steps

• The filing does not mention any specific future actions or milestones for Soluna Holdings Inc. or Alpha Capital Anstalt beyond the regulatory requirement of this disclosure.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of a passive ownership stake by Alpha Capital Anstalt in Soluna Holdings Inc. It does not contain new financial performance data, strategic shifts, or material events that would warrant a change in investment recommendation. The continued presence of an institutional investor is a neutral to slightly positive signal, but insufficient to alter a 'hold' stance without further fundamental analysis of Soluna Holdings Inc.'s operations and financials.

Keywords

Soluna Holdings Inc., Alpha Capital Anstalt, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Equity Stake