Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 2776

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 2776
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     26,514 
  
    Non-Controlling Interest 
     39,841  
     26,845 
  
    Total Stockholders’ Equity 
     27,362  
     53,359 
  
    Total Liabilities and Stockholders’ Equity 
    $88,040  
    $91,276 

The
accompanying notes are an integral part of these consolidated financial statements.

 F-3 

Soluna
Holdings, Inc. and Subsidiaries

Consolidated
Statements of Operations

For
the Years Ended December 31, 2024 and 2023

(Dollars
in thousands, except per share)

    Year Ended 

    December 31, 
  
    (Dollars in thousands, except per share) 
    2024  
    2023 

    Cryptocurrency mining revenue 
    $17,027  
    $10,602 
  
    Data hosting revenue 
     18,838  
     10,196 
  
    High-performance computing service revenue 
     16  
     - 
  
    Demand response service revenue 
     2,140  
     268 
  
    Total revenue 
     38,021  
     21,066 
  
    Operating costs: 

    Cost of cryptocurrency mining revenue, exclusive of depreciation 
     7,499  
     6,365 
  
    Cost of data hosting revenue, exclusive of depreciation 
     9,377  
     5,601 
  
    Cost of high-performance computing services 
     5,724  
     - 
  
    Cost of cryptocurrency mining revenue- depreciation 
     4,292  
     2,696 
  
    Cost of data hosting revenue- depreciation 
     1,735  
     1,167 
  
    Total costs of revenue 
     1,735  
     1,167 

    Total cost of revenue 
     28,627  
     15,829 
  
    Operating expenses: 

    General and administrative expenses, exclusive of depreciation and amortization 
     18,581  
     15,390 
  
    Depreciation and amortization associated with general and administrative expenses 
     9,613  
     9,513 
  
    Total general and administrative expenses 
     28,194