Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 63

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 318 
  
    Impairment on fixed assets 
     130  
     -  
     -  
     130 
  
    Segment operating income (loss) 
    $4,596  
    $4,568  
    $(58) 
    $9,106 

    (a)
    Demand
    response service revenue is included as a reconciling item of total revenue and not included as part of segment gross profit or loss.

    *
    Other
    cost of revenue includes insurance, outside service costs and margins, and general costs.

    37

The
following table presents the reconciliation of segment operating income (loss) to net income (loss) before taxes:

    For the six months ended June 30, 

    2025  
    2024 
  
    Segment operating income 
    $736  
    $9,106 

    Reconciling Items: 

    Elimination of intercompany costs 
     446  
     322 
  
    Other revenue (a) 
     668  
     1,168 
  
    General and administrative, exclusive of depreciation and amortization (b) 
     (10,845) 
     (9,060)
  
    General and administrative, depreciation and amortization 
     (4,807) 
     (4,805)
  
    Interest expense 
     (2,034) 
     (873)
  
    Gain (loss) on debt extinguishment and revaluation, net 
     551  
     (8,698)
  
    Loss on sale of fixed assets 
     (22) 
     (21)
  
    Other expense, net 
     (860) 
     (25)
  
    Net loss before taxes 
    $(16,167) 
    $(12,886)

    (a)
    Demand
    response service revenue is included as a reconciling item of total revenue and not included as part of segment gross profit or loss

    (b)
    The
    reconciling general and administrative expense, exclusive of depreciation and amortization represent corporate and unallocated general
    and administrative expenses for the six months ended June 30, 2025 and 2024.

Concentrations

During
the three months ended June 30, 2025 and June 30, 2024, aside from the Bitcoin Mining revenue generated as a