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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Total revenue $ 7,525 $ 5,797 $ 29,749 $ 10,948 $ 21,066 $ 28,547
Operating costs:            
Total costs of revenue 8,889 4,390 20,068 9,996 15,829 36,506
Operating expenses:            
General and administrative expenses, exclusive of depreciation and amortization 5,248 2,723 14,625 11,219 15,390 19,203
Depreciation and amortization associated with general and administrative expenses 2,404 2,379 7,209 7,134 9,513 9,506
Total general and administrative expenses 7,652 5,102 21,834 18,353 24,903 28,709
Impairment on equity investment         750
Impairment on fixed assets 41 130 418 575 47,372
Operating loss (9,016) (3,736) (12,283) (17,819) (20,241) (84,790)
Interest expense (821) (495) (1,694) (2,355) (2,748) (8,375)
Gain (loss) on debt extinguishment and revaluation, net 1,203 (769) (7,495) (2,350) (3,904) (11,130)
Loss on sale of fixed assets (373) (21) (404) (398) (4,089)
Other expense, net (6) (74) (32) (301) (1,479) 22
Loss before income taxes (8,640) (5,447) (21,525) (23,229) (28,770) (108,362)
Income tax benefit (expense) 547 (569) 1,743 524 1,067 1,346
Net loss from continuing operations         (27,703) (107,016)
Income before income taxes from discontinued operations (including gain on sale of MTI Instruments of $7,751 for year ended December 31, 2022)         7,851
Income tax benefit from discontinued operations         70
Net income from discontinued operations         7,921
Net loss (8,093) (6,016) (19,782) (22,705) (27,703) (99,095)
(Less) Net income (loss) attributable to non-controlling interest (903) 646 3,535 (206) 1,498 (380)
Net loss attributable to Soluna Holdings, Inc. $ (7,190) $ (6,662) $ (23,317) $ (22,499) $ (29,201) $ (98,715)
Basic and Diluted loss per common share:            
Net loss from continuing operations per share Basic [1]         $ (27.79) $ (187.63)
Net loss from continuing operations per share Diluted [1]         (27.79) (187.63)
Net income from discontinued operations per share Basic [1]         13.22
Net income from discontinued operations per share Diluted [1]         13.22
Basic loss per share $ (1.29) [2] $ (5.96) [2] $ (6.00) [2] $ (24.16) [2] (27.79) [1] (174.41) [1]
Diluted loss per share $ (1.29) [2] $ (5.96) [2] $ (6.00) [2] $ (24.16) [2] $ (27.79) [1] $ (174.41) [1]
Weighted average shares outstanding, Basic [2] 7,738,664 1,412,640 5,147,602 1,162,689 1,313,718 [1] 599,301 [1]
Weighted average shares outstanding, Diluted [2] 7,738,664 1,412,640 5,147,602 1,162,689 1,313,718 [1] 599,301 [1]
(Less) Net loss (income) attributable to non-controlling interest $ 903 $ (646) $ (3,535) $ 206 $ (1,498) $ 380
Cryptocurrency Mining Revenue [Member]            
Total revenue 2,811 1,786 13,691 5,497 10,602 24,409
Operating costs:            
Total costs of revenue 1,963 1,040 5,687 4,451 6,365 14,226
Data Hosting Revenue [Member]            
Total revenue 4,271 4,011 14,446 5,451 10,196 4,138
Operating costs:            
Total costs of revenue 2,555 2,150 6,982 3,181 5,601 3,572
Demand Response Services [Member]            
Total revenue 443 1,612 268
Cost of Revenue Depreciation [Member]            
Operating costs:            
Total costs of revenue 1,512 1,200 4,540 2,364 $ 3,863 $ 18,708
High Performance Computing Service Revenue [Member]            
Total revenue    
Operating costs:            
Total costs of revenue $ 2,859 $ 2,859    
[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, “Accounting Policies,” for details.
[2] 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.