Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 2176

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 2176
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7  
     7 
  
    Construction fees 
     2,211  
     - 
  
    Membership distribution accrual 
     1,179  
     517 
  
    Other 
     143  
     88 
  
    Total 
    $29,075  
    $4,906 

(1)CloudCo and HPE terminated their contract, which provided the Company access to datacenter and cloud services for AI and supercomputing applications utilizing NVIDIA H100 GPUs. In accordance with the terms of the HPE Agreement, CloudCo is required to pay all of the unpaid fees that were payable over entire term of the contract. As of December 31, 2024, the Company reduced its prepaid assets and other long-term assets by approximately $8.6 million, increased termination liability by approximately $20.0 million and recorded a loss on contract of approximately $28.6 million to account for the termination of the contract and CloudCo’s contractual payments. See Note 17 for details.

8.
Debt

The
following table represents total debt outstanding by agreement as of December 31, 2024:

 Schedule of Total Debt Outstanding

    (Dollars in thousands): 
    Convertible notes payable  
    Current portion of debt  
    Long term debt  
    Total 
  
    Convertible Notes 
    $-  
    $-  
    $-  
    $- 
  
    NYDIG financing 
     -  
     9,183  
     -  
     9,183 
  
    Navitas term loan 
     -  
     137  
     -  
     137 
  
    June 2024 secured note 
     -  
     3,922  
     7,061  
     10,983 
  
    July 2024 additional secured note 
     -  
     1,202  
     -  
     1,202 
  
    Total Debt 
    $-  
    $14,444  
    $7,061  
    $21,505 

The
following table represents total debt outstanding by agreement as of December 31, 2023:

    (Dollars in thousands): 
    Convertible notes payable  
    Current portion of debt  
    Long term debt  
    Total 
  
    Convertible