Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 118

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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 11,533 
  
    Machinery and equipment 
     9,354  
     9,324 
  
    Office furniture and fixtures 
     34  
     34 
  
    Construction in progress 
     13,005  
     9,250 
  
    Property, plant and equipment, gross 
     60,935  
     57,147 
  
    Less: Accumulated depreciation 
     (11,350) 
     (9,864)
  
    Property, plant and equipment,
    net 
    $49,585  
    $47,283 

Depreciation expense was approximately $1.5 million
and $1.6 million for the three months ended March 31, 2025 and 2024, respectively.

    11

5. Intangible Assets, net

Intangible assets consist of the following as of March 31, 2025:

Schedule of Intangible Assets

    (Dollars in thousands) 
    Intangible Assets  
    Accumulated Amortization  
    Total 

    Strategic pipeline contract 
    $46,885  
    $32,038  
    $14,847 
  
    Assembled workforce 
     500  
     342  
     158 
  
    Patents 
     311  
     24  
     287 
  
    Total 
    $47,696  
    $32,404  
    $15,292 

Intangible assets consist of the following as of December
31, 2024:

    (Dollars in thousands) 
    Intangible Assets  
    Accumulated Amortization  
    Total 

    Strategic pipeline contract 
    $46,885  
    $29,694  
    $17,191 
  
    Assembled workforce 
     500  
     317  
     183 
  
    Patents 
     266  
     20  
     246 
  
    Total 
    $47,651  
    $30,031  
    $17,620 

Amortization expense for the each of the three months ended March 31, 2025
and 2024 was approximately $2.4 million, respectively.

The strategic pipeline contract relates to supply
of a critical input to our digital mining and hosting business. The Company has analyzed this strategic pipeline