Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 265

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 265
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 |                 8 |
| Demand response service receivable         |                        |   |                631 |   |     |   |               268 |
| Proprietary mining Coinbase receivable     |                        |   |                 31 |   |     |   |               216 |
| Other                                      |                        |   |                244 |   |     |   |                 - |
| Accounts receivables, gross                |                        |   |              2,656 |   |     |   |             2,948 |
| Less: Allowance for expected credit losses |                        |   |               (611 | ) |     |   |                 - |
| Accounts receivables,                      
 net                                        |                        | $ |              2,045 |   |     | $ |             2,948 |

The Company’s allowance for expected credit loss was $ 611thousand as of September 30, 2024 and $ 0as of December 31, 2023. In the nine months ended September 30, 2024, one of the Company’s borrowers from a note receivable were having financial difficulty and securing financing, as such the Company fully reserved the note balance and incurred a provision on credit loss of approximately $ 244thousand. The Company increased its reserve by $ 367thousand due to an unresolved pricing dispute with a Bitcoin hosting customer.

| F-59 |

4. Property, Plant and Equipment

Property, plant and equipment consist of the following at:

Schedule of Plant and Equipment

|                                      | (Dollars in thousands) |   | September 30, 
          2024 |   |     |   | December 31, 
         2023 |   |
|:-------------------------------------|:-----------------------|:--|--------------:|:--|:----|:--|-------------:|:--|
| Land and land improvements           |                        | $ |         1,553 |   |     | $ |        1,538 |   |
| Buildings and leasehold improvements |                        |   |        25,384 |   |     |   |       25,369 |   |
| Computers and related software       |                        |   |        11,459 |   |     |   |       11,764 |   |
| Machinery and equipment              |                        |   |         9,142 |   |     |   |        9,054 |   |
| Office