Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 437

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 437
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, 2024 and 2023 was approximately $9.5 million.

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.

     F-20 

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) 

    Year ending December 31, 

    2025 
    $9,490 
  
    2026 
     7,910 
  
    2027 
     13 
  
    2028 
     13 
  
    2029 
     13 
  
    Thereafter 
     181 
  
    Total 
    $17,620 

  6. Income Taxes

Income
tax expense (benefit) for each of the years ended December 31 consists of the following:

 Schedule of Income Tax Expense

    (Dollars in thousands) 
    2024  
    2023 

    Federal 
    $—  
    $— 
  
    State 
     35  
     40 
  
    Deferred 
     (2,522) 
     (1,107)
  
    Total 
    $(2,487) 
    $(1,067)

Deferred
income tax expense (benefit) from operations for each of the years ended December 31 consists of the following:

 Schedule of Deferred Income Tax Expense

    (Dollars in thousands) 
    2024  
    2023 

    Deferred tax expense (benefit) 
    $4,006  
    $2,566 
  
    Net operating loss carry forward 
     (8,192) 
     (9,813)
  
    Valuation allowance 
     1,664  
     6,140 
  
    Deferred
    tax benefit (expense)  
    $(2,522) 
    $(1,107)

The
Company’s effective income tax rate from operations differed from the Federal statutory rate for each of the years ended December
31 as follows:

 Schedule of