Soluna Holdings completes $53M acquisition of Briscoe Wind Farm; audited financials show $14.8M net loss in 2025

Soluna Holdings, Inc

Acquired 100% of Briscoe Wind Farm for ~$53M on April 1, 2026; tracking account and long-term debt settled at closing.
Briscoe's 150 MW wind farm in Texas; 2025 net loss $14.8M on $8.95M revenue, vs. 2024 net loss $15.0M on $7.97M revenue.
Total assets $151.3M as of Dec 31, 2025; long-term debt $25.7M and related party debt $40.9M (both settled post-acquisition).
Briscoe operates under a PPA with Golden Spread Electric Cooperative for increasing output from 25 MW to ~150 MW.
CohnReznick LLP audited the financials; no impairment or going-concern issues identified.

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