Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1424

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1424
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 against the allowance 
     (516) 
     - 
  
    Recoveries collected 
     -  
     - 
  
    Allowance of expected credit losses, end of year 
    $244  
    $- 

4. Property, Plant and Equipment

Property,
plant and equipment consist of the following at:

 Schedule of Plant and Equipment

    (Dollars in thousands) 
    December 31, 2024  
    December 31, 2023 
  
    Land and land improvements 
    $1,553  
    $1,538 
  
    Buildings and leasehold improvements 
     25,453  
     25,369 
  
    Computers and related software 
     11,533  
     11,764 
  
    Machinery and equipment 
     9,324  
     9,054 
  
    Office furniture and fixtures 
     34  
     28 
  
    Construction in progress 
     9,250  
     1,111 
  
    Property,
    plant and equipment, gross 
     57,147  
     48,864 
  
    Less: Accumulated depreciation 
     (9,864) 
     (4,292)
  
    Property,
    plant and equipment, net 
    $47,283  
    $44,572 

     F-19 

Depreciation
expense was approximately $6.2 million and $3.9 million for the years ended December 31, 2024 and 2023, respectively. Repairs and maintenance
expense was approximately $536 thousand and $140 thousand for the years ended December 31, 2024 and 2023, respectively.

The
Company had a loss on sale of equipment of approximately $31 thousand for the year ended December 31, 2024, which related to equipment
held for sale and in storage. The Company received proceeds on the sale of equipment of approximately $215 thousand for the year ended
December 31, 2024, with a net book value of approximately $246 thousand. The Company incurred a $398 thousand loss for the year ended
December 31, 2023 in connection with the disposal and sale of miners (M20, M21, M30, and M31 models) and equipment which included Switchgear
and Tesseracks (mobile, Bitcoin mobile equipment) for approximately $147