Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 85

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 (“Atlas”) of approximately $254 thousand,
in addition to some small additional other income items.

Net
(loss) income attributable to non-controlling interest: We incurred a net loss attributable to non-controlling interest for the
three months ended June 30, 2025 compared to a net income attributable to non-controlling interest for the three months ended June 30,
2024. The decrease related mainly due the variances in gross profit related to D1A and D1B noted above due to the halving event in April
2024 and the increase in profit sharing fees for data hosting for the three months ended June 30, 2025, which created an approximate
$1.4 million variance between periods in non-controlling interest. In addition, in the second quarter of 2025, D2 began site energization,
however, D2 generated greater costs and expenses than revenue, resulting in an additional cost of approximately $705 thousand in non-controlling
interest, in which there is no comparable costs for the three months ended June 30, 2024.

49

Consolidated
Results of Operations for the Six Months Ended June 30, 2025 Compared to the Six Months Ended June 30, 2024.

The
following table summarizes changes in the various components of our net loss during the six months ended June 30, 2025 compared to the
six months ended June 30, 2024.

    (Dollars in thousands) 
    Six months ended 
June 30, 2025  
    Six months ended 
June 30, 2024  
    $ Change  
    % Change 
  
    Cryptocurrency mining revenue 
    $5,860  
    $10,880  
    $(5,020) 
     (46)%
  
    Data hosting revenue 
     5,538  
     10,176  
     (4,638) 
     (46)%
  
    Demand response service revenue 
     668  
     1,168  
     (500) 
     (43)%
  
    High-performance computing service revenue 
     28  
     -  
     28  
     100%
  
    Operating costs and expenses: 

    Cost of cryptocurrency mining revenue, exclusive of depreciation 
     3,721  
     3,724  
     (3) 
     -%