Company: SLNH
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001493152-25-004555
Chunk: 272

Company: Soluna Holdings, Inc
Filing Date: 2025-02-03
Form: S-1/A
Chunk 272
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       (4,292 | ) |
| Property,                            
 plant and equipment, net             |                        | $ |        43,471 |   |     | $ |       44,572 |   |

Depreciation expense was approximately $ 1.5million and $ 1.2million for the three months ended September 30, 2024 and 2023, respectively. Depreciation expense was approximately $ 4.6million and $ 2.4million for the nine months ended September 30, 2024 and 2023, respectively

There was noloss on sale of equipment for the three months ended September 30, 2024. The Company had a loss on sale of equipment of approximately $ 21thousand for the nine months ended September 30, 2024, in which related to equipment held for sale and in storage. The Company received proceeds on the sale of equipment of approximately $ 215thousand for the nine months ended September 30, 2024, in which the net book value was approximately $ 236thousand. For the three and nine months ended September 30, 2023, the Company incurred a loss on sale of fixed assets of approximately $ 373thousand and $ 404thousand in relation to the sale of miners for Project Sophie and sale of the remaining Project Marie fixed assets including the Tesseracks (mobile, Bitcoin Mining Equipment).

There were noimpairment charges for the three months ended September 30, 2024. During the nine months ended September 30, 2024, the Company had impairment charges of approximately $ 130thousand. This charge related to the sale of S19 miners that occurred in April 2024, whereas the Company wrote down the net book value of the miners to the subsequent sales price. The Company had impairment charges of approximately $ 41thousand for the three months ended September 30, 2023 due to revaluing the M31 and M32 miners to the current market conditions. During the nine months ended September 30, 2023, the Company had impairment charges of approximately $ 418thousand in which related to impairment of approximately $ 165thousand for power supply units (PSUs) at the Sophie location, $ 84thousand for M31 miners based on sales of other recent M31 miners, in which the Company wrote down the net book value to sale price of the sold M32 miners, and $ 169th