Soluna Holdings CFO resigns, board member steps in as interim

NEW YORK - Soluna Holdings, Inc. (NASDAQ:SLNH), a developer of green data centers for Bitcoin mining and AI applications, announced Friday that Chief Financial Officer and Treasurer John Tunison has resigned effective August 21, 2025. Tunison is leaving to accept a similar position at a privately held company.

David Michaels, a longtime board member who previously served as interim CFO in 2023, will step into the role again. Michaels has over 30 years of financial leadership experience, including senior positions at Albany International Corp. (NYSE:AIN), a stable $1.8 billion market cap company with a 25-year track record of consistent dividend payments and strong financial health metrics according to InvestingPro, and other organizations.

During his tenure, Tunison oversaw financing rounds totaling over $90 million in project and company debt and equity. He also managed agreements with convertible noteholders, amended terms with Series B Preferred Stockholders, and completed the final conversion and payoff of outstanding convertible notes.

"John Tunison has supported the company through several milestones and challenges over his tenure with Soluna," said John Belizaire, CEO of Soluna. "He has been a partner to our team and laid the foundation for our next phase of growth."

The company stated that Tunison’s resignation is not the result of any dispute or disagreement with the company, including matters relating to accounting practices or financial reporting.

Soluna develops data centers co-located with renewable energy sources to support computing applications including cryptocurrency mining and artificial intelligence. The company reported 80.5% revenue growth in 2024, reaching $38 million.

This article is based on information from a company press release.

In other recent news, Albany International Corporation reported its second-quarter 2025 earnings, which revealed a miss on earnings per share (EPS) forecasts while slightly surpassing revenue expectations. The company posted an EPS of $0.57, falling short of the anticipated $0.77, which was a negative surprise of 25.97%. However, revenue came in at $311 million, slightly above the forecast of $309.43 million. These recent developments indicate mixed results for Albany International, as the company managed to exceed revenue expectations but underperformed in terms of EPS. Investors reacted to the earnings announcement with a significant response. Additionally, the stock’s movement following the earnings report was notable but will not be discussed here. No analyst upgrades or downgrades were reported in conjunction with this earnings release. Albany International’s financial performance continues to be closely monitored by investors and analysts alike.

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