Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 635

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 635
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 sell all remaining miners at the Sophie location and as of December 31, 2023, approximately
$107 thousand remained outstanding whereas the Company expected to be sold within a year. For the year ended, December 31, 2024, the
Company has sold all remaining Sophie assets held for sale for approximately $82 thousand. A balance of approximately $28 thousand remains
outstanding as of December 31, 2024 related to Marie assets.

5. Intangible Assets

Intangible
assets consist of the following as of December 31, 2024:

 Schedule of Intangible Assets

    (Dollars in thousands) 
    Intangible Assets  
    Accumulated Amortization  
    Total 

    Strategic pipeline contract 
    $46,885  
    $29,694  
    $17,191 
  
    Assembled workforce 
     500  
     317  
     183 
  
    Patents 
     266  
     20  
     246 
  
    Total 
    $47,651  
    $30,031  
    $17,620 

Intangible
assets consist of the following as of December 31, 2023:

    (Dollars in thousands) 
    Intangible Assets  
    Accumulated Amortization  
    Total 

    Strategic pipeline contract 
    $46,885  
    $20,317  
    $26,568 
  
    Assembled workforce 
     500  
     216  
     284 
  
    Patents 
     165  
     10  
     155 
  
    Total 
    $47,550  
    $20,543  
    $27,007 

Amortization
expense for each of the years ended December 31, 2024 and 2023 was approximately $9.5 million.

The
strategic pipeline contract relates to supply of a critical input to our digital mining business. The Company has analyzed this strategic
pipeline contract similar to a permit for future benefit. The strategic pipeline contract relates to potential renewable energy datacenters
that fit in the alignment of the Company structure to expand operations of the Company’s new focus in their business.

     F-20 

The
Company expects to record amortization expense of intangible assets over the next five years and thereafter as follows:

 Schedule of Amortization Expense of