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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash $ 7,843 $ 6,368
Restricted cash 1,150 2,999
Accounts receivable, net (allowance for expected credit losses $244 and $0 as of December 31, 2024 and December 31, 2023) 2,693 2,948
Notes receivable 13 446
Prepaid expenses and other current assets 1,768 1,416
Equipment held for sale 28 107
Total Current Assets 13,495 14,284
Restricted cash, noncurrent 1,460 1,000
Other assets 2,724 2,954
Deposits and credits on equipment 5,145 1,028
Property, plant and equipment, net 47,283 44,572
Intangible assets, net 17,620 27,007
Operating lease right-of-use assets 313 431
Total Assets 88,040 91,276
Current Liabilities:    
Accounts payable 2,840 2,099
Accrued liabilities 29,075 4,906
Convertible notes payable 8,474
Current portion of debt 14,444 10,864
Income tax payable 37 24
Customer deposits-current 1,416 1,588
Operating lease liability 61 220
Total Current Liabilities 47,873 28,175
Other liabilities 235 499
Customer deposits- long-term 1,248
Long-term debt 7,061
Operating lease liability 252 216
Deferred tax liability, net 5,257 7,779
Total Liabilities 60,678 37,917
Commitments and Contingencies (Note 13)
Stockholders’ Equity:    
Common stock, par value $0.001 per share, authorized 75,000,000; 10,647,761 shares issued and 10,607,020 shares outstanding as of December 31, 2024 and 2,546,361 shares issued and 2,505,620 shares outstanding as of December 31, 2023 11 3
Additional paid-in capital 315,607 291,276
Accumulated deficit (314,304) (250,970)
Common stock in treasury, at cost, 40,741 shares at December 31, 2024 and December 31, 2023 (13,798) (13,798)
Total Soluna Holdings, Inc. Stockholders’ (Deficit) Equity (12,479) 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
Series A Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock, par value 5 3
Series B Preferred Stock [Member]    
Stockholders’ Equity:    
Preferred stock, par value