Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 2

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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 (12,479)
  
    Non-Controlling Interest 
     43,058  
     39,841 
  
    Total Stockholders’ Equity 
     26,993  
     27,362 
  
    Total Liabilities and Stockholders’ Equity 
    $90,049  
    $88,040 

The accompanying notes are an integral part of these unaudited
condensed consolidated financial statements.

4

Soluna
Holdings, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations
(Unaudited)

For the Three Months Ended March 31, 2025 and
2024

    (Dollars in thousands, except per share) 
    2025  
    2024 

    For the three months ended 

    March 31, 
  
    (Dollars in thousands, except per share) 
    2025  
    2024 

    Cryptocurrency mining revenue 
    $2,999  
    $6,396 
  
    Data hosting revenue 
     2,402  
     5,278 
  
    Demand response service revenue 
     507  
     875 
  
    High-performance computing service revenue 
     28  
     - 
  
    Total revenue 
     5,936  
     12,549 
  
    Operating costs: 

    Cost of cryptocurrency mining revenue, exclusive of depreciation 
     1,954  
     1,841 
  
    Cost of data hosting revenue, exclusive of depreciation 
     1,327  
     2,251 
  
    Cost of high-performance computing services 
     7  
     - 
  
    Cost of cryptocurrency mining revenue- depreciation 
     1,074  
     1,087 
  
    Cost of data hosting revenue- depreciation 
     401  
     436 
  
    Total costs of revenue 
     401  
     436 

    Total cost of revenue 
     4,763  
     5,615 
  
    Operating expenses: 

    General and administrative expenses, exclusive of depreciation and amortization 
     5,946  
     3,994 
  
    Depreciation and amortization associated with general and administrative expenses 
     2,404  
     2,403 
  
    Total general and administrative expenses