Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 152

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 152
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 Receivable

    (Dollars in thousands) 
    September
    30, 2025  
    December
    31, 2024 
  
    Data hosting 
    $3,888  
    $1,385 
  
    Demand response service receivable 
     516  
     1,159 
  
    Proprietary mining Coinbase receivable 
     -  
     37 
  
    Other 
     248  
     356 
  
    Accounts receivables, gross 
     4,652  
     2,937 
  
    Less: Allowance for expected
    credit losses 
     (244) 
     (244)
  
    Accounts receivables,
    net 
    $4,408  
    $2,693 

The
Company’s allowance for expected credit loss was $244 thousand at September 30, 2025 and December 31, 2024, respectively. For the
year ended December 31, 2024, one of the Company’s borrowers for a note receivable was having financial difficulty securing 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. As of December 31, 2024, the Company wrote
off the entire allowance with the Bitcoin hosting customer of $516 thousand.

Rollforward
of Allowance of Expected Credit Losses:

Schedule
of Allowance of Expected Credit Losses 

    (Dollars in thousands) 
    January
                                            1, 2025-
                                                                                September
                                            30, 2025  
    January
                                            1, 2024 –
                                                                                December
                                            31, 2024 

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