Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 204

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 204
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----------------------------|:----|:-----------|-------:|:----|:-------------|-------:|:----|:------|-------:|
| Strategic pipeline contract |     | $          | 46,885 |     | $            | 20,317 |     | $     | 26,568 |
| Assembled workforce         |     |            |    500 |     |              |    216 |     |       |    284 |
| Patents                     |     |            |    165 |     |              |     10 |     |       |    155 |
| Total                       |     | $          | 47,550 |     | $            | 20,543 |     | $     | 27,007 |

Intangible assets consist of the following as of December 31, 2022:

| (Dollars in thousands)      |     | Intangible 
 Assets     |        |     | Accumulated  
 Amortization |        |     | Total |        |
|:----------------------------|:----|:-----------|-------:|:----|:-------------|-------:|:----|:------|-------:|
| Strategic pipeline contract |     | $          | 46,885 |     | $            | 10,940 |     | $     | 35,945 |
| Assembled workforce         |     |            |    500 |     |              |    117 |     |       |    383 |
| Patents                     |     |            |    110 |     |              |      6 |     |       |    104 |
| Total                       |     | $          | 47,495 |     | $            | 11,063 |     | $     | 36,432 |

Amortization expense for the year ended December 31, 2023 and 2022 was approximately $ 9.5million and $ 9.5million.

The strategic pipeline contract relates to supply of a critical input to our digital mining business. The Company has analyzed this strategic pipeline contract similar to a permit for future benefit. The strategic pipeline contract relates to potential renewable energy datacenters that fit in the alignment of the Company structure to expand operations of the Company’s new focus in their business.

The Company expects to record amortization expense of intangible assets over the next five years and thereafter as follows:

Schedule of Amortization Expense of Intangible Assets

| (Dollars in thousands)