Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 128

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 128
---
30, 2024:

    Soluna Digital 
  
    (Dollars in
thousands) 
    Project
 Dorothy
 1B  
    Project
 Dorothy
 1A  
    Project
 Sophie  
    Other  
    Total 

    Cryptocurrency mining revenue 
    $4,484  
    $-  
    $-  
    $-  
    $4,484 
  
    Data hosting revenue 
     -  
     3,567  
     1,331  
     -  
     4,898 
  
    Demand response services 
     -  
     -  
     -  
     293  
     293 
  
    Total revenue 
     4,484  
     3,567  
     1,331  
     293  
     9,675 

    Cost of cryptocurrency mining, exclusive of depreciation 
     1,883  
     -  
     -  
     -  
     1,883 
  
    Cost of data hosting revenue, exclusive of depreciation 
     -  
     1,758  
     418  
     -  
     2,176 
  
    Cost of cryptocurrency mining revenue- depreciation 
     1,065  
     -  
     -  
     -  
     1,065 
  
    Cost of data hosting revenue- depreciation 
     -  
     290  
     151  
     -  
     441 
  
    Total cost of revenue 
     2,948  
     2,048  
     569  
     -  
     5,565 
  
    Gross profit 
    $1,536  
    $1,519  
    $762  
    $293  
    $4,110 

47

Cryptocurrency
Mining Revenue: Cryptocurrency mining revenue decreased between the three months ended June 30, 2025 compared to the three
months ended June 30, 2024 related to the Bitcoin halving event that occurred in April 2024, resulting in a $1.0 million decrease
from price and a $583 thousand decrease due to  volume driven primarily by aging of miners and higher curtailment in
2025 which resulted in