Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 3271

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 11
Chunk 3271
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ables,
    net 
    $2,693  
    $2,948 

The
Company’s allowance for expected credit loss was $244
thousand as of December 31, 2024 and $0
as of December 31, 2023. For the year ended December 31, 2024, one of the Company’s borrowers from a note receivable was
having financial difficulty and secured additional financing to pay the note, as such the Company fully reserved the note balance
and incurred a provision on credit loss of approximately $244
thousand. In addition, the Company had a credit provision for approximately $516 thousand due to a pricing dispute with a Bitcoin
hosting customer, in which the agreement with the customer was terminated in December 2024. The Company wrote off the entire allowance
with the Bitcoin hosting customer of $516 thousand as of year-end.

Rollforward
of Allowance of Expected Credit Losses:

Schedule
of Allowance of Expected Credit Losses

    (Dollars in thousands) 
    2024  
    2023 

    Allowance for expected credit losses, beginning of year 
    $-  
    $- 
  
    Current period credit provision 
     760  
     - 
  
    Write offs charged against the allowance 
     (516) 
     - 
  
    Recoveries collected 
     -  
     - 
  
    Allowance of expected credit losses, end of year 
    $244  
    $- 

4. Property, Plant and Equipment

Property,
plant and equipment consist of the following at:

 Schedule of Plant and Equipment

    (Dollars in thousands) 
    December 31, 2024  
    December 31, 2023 
  
    Land and land improvements 
    $1,553  
    $1,538 
  
    Buildings and leasehold improvements 
     25,453  
     25,369 
  
    Computers and related software 
     11,533  
     11,764 
  
    Machinery and equipment 
     9,324  
     9,054 
  
    Office furniture and fixtures 
     34  
     28 
  
    Construction in progress 
     9,250  
     1,111 
  
    Property,
    plant and equipment, gross 
     57,147  
     48,