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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Total revenue $ 7,525 $ 5,797 $ 29,749 $ 10,948
Operating costs:        
Total costs of revenue 8,889 4,390 20,068 9,996
Operating expenses:        
General and administrative expenses, exclusive of depreciation and amortization 5,248 2,723 14,625 11,219
Depreciation and amortization associated with general and administrative expenses 2,404 2,379 7,209 7,134
Total general and administrative expenses 7,652 5,102 21,834 18,353
Impairment on fixed assets 41 130 418
Operating loss (9,016) (3,736) (12,283) (17,819)
Interest expense (821) (495) (1,694) (2,355)
Gain (loss) on debt extinguishment and revaluation, net 1,203 (769) (7,495) (2,350)
Loss on sale of fixed assets (373) (21) (404)
Other expense, net (6) (74) (32) (301)
Loss before income taxes (8,640) (5,447) (21,525) (23,229)
Income tax benefit (expense) 547 (569) 1,743 524
Net loss (8,093) (6,016) (19,782) (22,705)
(Less) Net loss (income) attributable to non-controlling interest 903 (646) (3,535) 206
Net loss attributable to Soluna Holdings, Inc. $ (7,190) $ (6,662) $ (23,317) $ (22,499)
Basic and Diluted loss per common share:        
Basic loss per share [1] $ (1.29) $ (5.96) $ (6.00) $ (24.16)
Diluted loss per share [1] $ (1.29) $ (5.96) $ (6.00) $ (24.16)
Weighted average shares outstanding, Basic [1] 7,738,664 1,412,640 5,147,602 1,162,689
Weighted average shares outstanding, Diluted [1] 7,738,664 1,412,640 5,147,602 1,162,689
Cryptocurrency Mining Revenue [Member]        
Total revenue $ 2,811 $ 1,786 $ 13,691 $ 5,497
Operating costs:        
Total costs of revenue 1,963 1,040 5,687 4,451
Data Hosting Revenue [Member]        
Total revenue 4,271 4,011 14,446 5,451
Operating costs:        
Total costs of revenue 2,555 2,150 6,982 3,181
High Performance Computing Service Revenue [Member]        
Total revenue
Operating costs:        
Total costs of revenue 2,859 2,859
Demand Response Services [Member]        
Total revenue 443 1,612
Cost of Revenue Depreciation [Member]        
Operating costs:        
Total costs of revenue $ 1,512 $ 1,200 $ 4,540 $ 2,364
[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.