Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 477

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 477
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 discount rate) 

    2024  
    2023 
  
    Operating leases: 

    Operating lease ROU asset 
    $313  
    $431 

    Current operating lease liabilities 
    $61  
    $220 
  
    Non-current operating lease liabilities 
     252  
     216 
  
    Total operating lease liabilities 
    $313  
    $436 

    Operating leases: 

    ROU assets 
    $470  
    $1,058 
  
    Asset lease expense 
     (157) 
     (627)
  
    ROU assets, net 
    $313  
    $431 

    Weighted Average Remaining Lease Term (in years): 

    Operating leases 
     5.71  
     4.38 

    Weighted Average Discount Rate: 

    Operating leases 
     7.65% 
     8.04%

Maturities
of operating lease liabilities are as follows for the year ending December 31:

Schedule of Maturity of Operating
Lease Liabilities 

(Dollars
in thousands)

    2024 
  
    2025 
    $82 
  
    2026 
     82 
  
    2027 
     82 
  
    2028 
     29 
  
    2029 
     29 
  
    Thereafter 
     88 
  
    Total lease payments 
     392 
  
    Less: imputed interest 
     (79)
  
    Total lease obligations 
     313 
  
    Less: current obligations 
     (61)
  
    Long-term lease obligations 
    $252 

As
of December 31, 2024, there were no additional operating lease commitments that had not yet commenced.

Project
Dorothy 2 Commitments:

As
of December 31, 2024, the Company was contractually committed for approximately $8.5 million of capital expenditures, primarily related
to infrastructure builds, equipment procurement, and labor associated with the Company’s Project Dorothy 2 datacenter. These capital
expenditures are expected to occur over the next year.

     F-37 

Contingencies:

Spring
Lane Capital Contingency

The
Company has a potential contingency associated with an agreement with Spring Lane of up to $250 thousand which would be reduced by a
proportion