Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 20

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 ended September 30, 2025 and 2024, respectively.

5.
Intangible Assets, net

Intangible
assets consist of the following as of September 30, 2025:

Schedule
of Intangiable Assets 

    (Dollars in thousands) 
    Intangible
    Assets  
    Accumulated Amortization  
    Total 

    Strategic pipeline contract 
    $46,885  
    $36,727  
    $10,158 
  
    Assembled workforce 
     500  
     392  
     108 
  
    Patents 
     359  
     32  
     327 
  
    Total 
    $47,744  
    $37,151  
    $10,593 

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

    (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 

Amortization
expense for  each of the three and nine months ended September 30, 2025 and 2024 was approximately $2.4 million and $7.1 million,
respectively.

The
strategic pipeline contract relates to supply of a critical input to our digital mining and hosting 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.

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

Schedule
of Amortization of Intangiable Assets 

    (Dollars in thousands) 

    Year 
    2025 
  
    2025 (remainder of the year) 
    $2,375 
  
    2026 
     7,914 
  
    2027