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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Total revenue $ 9,675 $ 2,068 $ 22,224 $ 5,150
Operating costs:        
Total costs of revenue 5,565 2,458 11,180 5,605
Operating expenses:        
General and administrative expenses, exclusive of depreciation and amortization 5,382 4,136 9,378 8,496
Depreciation and amortization associated with general and administrative expenses 2,403 2,379 4,805 4,756
Total general and administrative expenses 7,785 6,515 14,183 13,252
Impairment on fixed assets 169 130 377
Operating loss (3,675) (7,074) (3,269) (14,084)
Interest expense (449) (486) (873) (1,861)
Loss on debt extinguishment and revaluation, net (5,600) (2,054) (8,698) (1,581)
(Loss) gain on sale of fixed assets (21) 48 (21) (30)
Other expense, net (49) (238) (25) (226)
Loss before income taxes (9,794) (9,804) (12,886) (17,782)
Income tax benefit 649 547 1,197 1,093
Net loss (9,145) (9,257) (11,689) (16,689)
(Less) Net income (loss) attributable to non-controlling interest 1,728 (482) 4,438 (852)
Net loss attributable to Soluna Holdings, Inc. $ (10,873) $ (8,775) $ (16,127) $ (15,837)
Earnings Per Share, Diluted [1] $ (2.97) $ (9.54) $ (5.68) $ (19.74)
Weighted Average Number of Shares Outstanding, Diluted [1] 4,563,696 1,126,091 3,683,558 996,228
Cryptocurrency Mining Revenue [Member]        
Total revenue $ 4,484 $ 915 $ 10,880 $ 3,711
Operating costs:        
Total costs of revenue 1,883 1,160 3,724 3,410
Data Hosting Revenue [Member]        
Total revenue 4,898 1,153 10,176 1,439
Operating costs:        
Total costs of revenue 2,176 759 4,427 1,031
Demand Response Services [Member]        
Total revenue 293 1,168
Cost of Revenue Depreciation [Member]        
Operating costs:        
Total costs of revenue $ 1,506 $ 539 $ 3,029 $ 1,164
[1] Prior period results have been adjusted to reflect the Reverse Stock Split of the Common Stock at a ratio of 1-for-25 that became effective October 13, 2023. See Note 2, “Basis of Presentation,” for details.