Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 67

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 arrangements with a grid operator, the Company agrees to be available
to ramp down a registered data center’s power consumption to a specific target level. In exchange, the grid pays the company a fee
for this dispatch right, provided the Company can perform within certain parameters. The Company can be providing any type of service
at the data centers whether it be Cryptocurrency Mining, Data Center Hosting, or AI to generate demand response service revenue.

The following table details revenue, cost of revenues,
and other operating costs for the Company’s reportable segments for three months ended March 31, 2025 and 2024, and reconciles to
net income (loss) on the condensed consolidated statements of operations:

Schedule
of Segment Reporting Information

For the three months ended
March 31, 2025

    Cryptocurrency Mining  
    Data Center Hosting  
    High-Performance Computing Services  
    Total 
  
    Segment Revenue: Revenue from external customers 
    $2,999  
    $2,402  
    $28  
    $5,429 
  
    Reconciliation of revenue 

                                    Demand response revenue (a) 

     507 
  
    Total consolidated revenue 

     5,936 
  
    Less: Segment cost of revenue 

    Utility costs 
     1,412  
     389  
     -  
     1,801 
  
    Wages, benefits, and employee related costs 
     219  
     470  
     7  
     696 
  
    Facilities and Equipment costs 
     207  
     365  
     -  
     572 
  
    Cost of revenue-
                                                     depreciation 
     1,074  
     401  
     -  
     1,475 
  
    Other cost of revenue* 
     140  
     144  
     -  
     284 
  
    Total segment cost of revenue 
     3,052  
     1,769  
     7  
     4,828 
  
    General and administrative expenses 
     14  
     90  
     159  
     263 
  
    Segment operating income (loss) 
    $(67) 
    $543  
    $(138) 
    $338 

    34

For the three months ended
March 31,