Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 76

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 76
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 to the operational requirements around uninstalling the prior customer’s equipment and installing the new customers’ equipment, there are anticipated to be some revenue impacts during December of 2024 and early first quarter of 2025.

Consolidated Results of Operations

Comparison of the Three Months Ended September 30, 2024 and September 30, 2023

The following table summarizes changes in the various components of our net loss during the three months ended September 30, 2024 compared to the three months ended September 30, 2023.

|                                                                                   | (Dollars in thousands) |   |                  Three 
 Months Ended September 
               30, 2024 |   |     |     |                  Three 
 Months Ended September 
               30, 2023 |   |     |     | $ Change |   |     |     |      % 
 Change |    |
|:----------------------------------------------------------------------------------|:-----------------------|:--|-----------------------:|:--|:----|:----|-----------------------:|:--|:----|:----|---------:|:--|:----|:----|-------:|:---|
| Cryptocurrency mining revenue                                                     |                        | $ |                  2,811 |   |     |     |                  1,786 |   |     |     |    1,025 |   |     |     |     57 | %  |
| Data hosting revenue                                                              |                        |   |                  4,271 |   |     |     |                  4,011 |   |     |     |      260 |   |     |     |      6 | %  |
| High-performance computing service revenue                                        |                        |   |                      - |   |     |     |                      - |   |     |     |        - |   |     |     |      - | %  |
| Demand response service revenue                                                   |                        |   |                    443 |   |     |     |                      - |   |     |     |      443 |   |     |     |    100 | %  |
| Operating costs and expenses:                                                     |                        |   |                        |   |     |     |                        |   |     |     |          |   |     |     |        |    |
| Cost of cryptocurrency mining revenue, exclusive of depreciation                  |                        |   |                  1,963 |   |     |     |                  1,040 |   |