Soluna Holdings names David Michaels interim CFO after John Tunison resignation

Soluna Holdings Inc. (NASDAQ: SLNH) announced that Chief Financial Officer and Treasurer John Tunison will resign effective August 21 to accept a position with a privately held company.

David Michaels, a board member who has served in various roles including Chairman of the Board and Chairman of the Audit Committee, will assume the role of interim CFO and Treasurer. Michaels previously served as interim CFO for the company in 2023 and brings more than 30 years of financial leadership experience from positions at Albany International Corp. (NYSE: AIN), the American Institute for Economic Research, and Starfire Systems Inc.

During Tunison's tenure, the company completed financing rounds totaling over $90 million in project and company debt and equity, reached agreements with convertible noteholders, and completed the conversion and payoff of outstanding convertible notes. The company reported 80.5% revenue growth in 2024, reaching $38 million.

"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 practices, policies, accounting practices, or financial reporting.

Soluna develops green data centers for intensive computing applications, including Bitcoin mining and artificial intelligence, and operates digital infrastructure that transforms surplus renewable energy into computing resources.

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