Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 3657

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 14
Chunk 3657
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. The Company is currently evaluating the impact of adopting the
standard.

3. Accounts Receivable 

Accounts
receivables consist of the following at:

 Schedule of Accounts Receivable

    (Dollars in thousands) 
    December 31, 2024  
    December 31, 2023 
  
    Data hosting 
    $1,385  
    $2,456 
  
    Related party receivable 
     -  
     8 
  
    Demand response service receivable 
     1,159  
     268 
  
    Proprietary mining Coinbase receivable 
     37  
     216 
  
    Other 
     356  
     - 
  
     Accounts receivables, gross  
     2,937  
     2,948 
  
    Less: Allowance for expected credit losses 
     (244) 
     - 
  
    Accounts receivables,
    net 
    $2,693  
    $2,948 

The
Company’s allowance for expected credit loss was $244
thousand as of December 31, 2024 and $0
as of December 31, 2023. For the year ended December 31, 2024, one of the Company’s borrowers from a note receivable was
having financial difficulty and secured additional financing to pay the note, as such the Company fully reserved the note balance
and incurred a provision on credit loss of approximately $244
thousand. In addition, the Company had a credit provision for approximately $516 thousand due to a pricing dispute with a Bitcoin
hosting customer, in which the agreement with the customer was terminated in December 2024. The Company wrote off the entire allowance
with the Bitcoin hosting customer of $516 thousand as of year-end.

Rollforward
of Allowance of Expected Credit Losses:

Schedule
of Allowance of Expected Credit Losses

    (Dollars in thousands) 
    2024  
    2023 

    Allowance for expected credit losses, beginning of year 
    $-  
    $- 
  
    Current period credit provision 
     760  
     - 
  
    Write offs charged against the allowance 
     (516) 
     - 
  
    Recoveries collected 
     -  
     - 
  
    Allowance of expected credit losses, end of year