Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 220

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 220
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     513 
  
    Other revenue (a) 
     1,057  
     1,612 
  
    General and administrative,
    exclusive of depreciation and amortization (b) 
     (17,384) 
     (13,297)
  
    General and administrative,
    depreciation and amortization 
     (7,207) 
     (7,209)
  
    Interest expense 
     (3,246) 
     (1,694)
  
    Gain (loss) on debt extinguishment
    and revaluation, net 
     10,658  
     (1,888)
  
    Loss on sale of fixed assets
    and credit on equipment deposit 
     (802) 
     (21)
  
    Fair value adjustment loss 
     (22,165) 
     (5,607)
  
    Other financing expense 
     (5,203) 
     - 
  
    Other
    expense, net 
     (280) 
     (32)
  
    Net
    loss before taxes 
    $(42,618) 
    $(21,525)

    (a)
     
    Demand
    response service revenue is included as a reconciling item of total revenue and not included as part of segment gross profit or loss.

    (b)
     
    The
    reconciling general and administrative expense, exclusive of depreciation and amortization represent corporate and unallocated general
    and administrative expenses for the nine months ended September 30, 2025 and 2024.

Concentrations

During
the three months ended September 30, 2025 and September 30, 2024, aside from the Bitcoin Mining revenue generated as a result of the
Company’s participation in a mining pool and the Company’s participation in the demand response program, two customers each
contributed more than 10% of the Company’s total consolidated revenue constituting approximately 40% for the three months ended
September 30, 2025 and two customers contributed more than 10% of the Company’s total consolidated revenue constituting approximately
49% of the Company’s total consolidated revenue for the three months ended September 30, 2024.

During
the nine months ended September 30, 2025 and September 30, 2024, aside from the Bitcoin Mining revenue generated as a result of the Company’s
participation in a mining pool