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Segment Information | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Segment Information | 17. Segment Information The Company applies ASC 280, Segment Reporting, in determining its reportable segments. The Company has two reportable segments: Cryptocurrency Mining and Data Hosting. The Company notes that previously there was an additional segment: Test and Measurement Instrumentation, however as discussed in Note 1, the Company sold MTI Instruments in April 2022, and therefore has classified as discontinued operations. The guidance requires that segment disclosures present the measure(s) used by the Chief Operating Decision Maker (“CODM”) to decide how to allocate resources and for purposes of assessing such segments’ performance. The Company’s CODM is comprised of several members of its executive management team who use revenue and cost of revenues of both reporting segments to assess the performance of the business of our reportable operating segments. No operating segments have been aggregated to form the reportable segments. The Company does not allocate all assets to the reporting segments as these are managed on an entity-wide basis. Therefore, the Company does not separately disclose the total assets of its reportable operating segments. The Cryptocurrency Mining segment generates revenue from the cryptocurrency the Company earns through its mining activities. The Data Center Hosting segment generates revenue from contracts for the provision/consumption of electricity and operation of the data center from the Company’s high performance computing facility in Calvert City, Kentucky. For the three months ended September 30, 2023 and 2022, approximately 0% and 4% of the Company’s cryptocurrency mining revenue was generated from Project Edith (data center located in Wenatchee, Washington), 0% and 37% from Project Marie, 3% and 59% from Project Sophie (data center located in Murray, Kentucky), and 97% and 0% from Project Dorothy (data center located in Texas), respectively. 0% and 100% of the Company’s data center hosting revenue was generated from Project Marie from hosting with customers for the three months ended September 30, 2023 and 2022, 25% and 0% of the data hosting revenue for three months ended September 30, 2023 and 2022 was generated from Project Sophie, and 75% and 0% of the data hosting revenue for the three months ended September 30, 2023 and 2022 was generated from Project Dorothy (data center located in Texas). For the nine months ended September 30, 2023 and 2022, approximately 0% and 6% of the Company’s cryptocurrency mining revenue was generated from Project Edith (data center located in Wenatchee, Washington), 14% and 41% from Project Marie, and 54% and 53% from Project Sophie (data center located in Murray, Kentucky) and 32% and 0% from Project Dorothy (data center located in Texas), respectively. 5% and 100% of the Company’s data center hosting revenue was generated from Project Marie from hosting with customers for the nine months ended September 30, 2023 and 2022, 31% and 0% of the data hosting revenue for nine months ended September 30, 2023 and 2022 was generated from Project Sophie, and 64% and 0% of the data hosting revenue for the nine months ended September 30, 2023 and 2022 was generated from Project Dorothy (data center located in Texas) for the nine months ended September 30, 2023 and 2022. The Company evaluates performance based on profit or loss from operations before income taxes, accounting changes, items management does not deem relevant to segment performance, and interest income and expense. Inter-segment sales and expenses are not significant. Non-cash items of depreciation and amortization are included within both costs of sales and selling, general and administrative expenses. The following table details revenue and cost of revenues for the Company’s reportable segments for three and nine months ended September 30, 2023 and 2022, and reconciles to net income (loss) on the consolidated statements of operations: Schedule of Segment Reporting Information
(Dollars in thousands) |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Reportable segment revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cryptocurrency mining revenue |  | $ | 1,786 |  |  | $ | 5,387 |  |  | $ | 5,497 |  |  | $ | 20,696 |
Data hosting revenue |  |  | 4,011 |  |  |  | 985 |  |  |  | 5,451 |  |  |  | 3,668 |
Total segment and consolidated revenue |  |  | 5,797 |  |  |  | 6,372 |  |  |  | 10,948 |  |  |  | 24,364 |
Reportable segment cost of revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of cryptocurrency mining revenue, exclusive of depreciation |  |  | 1,040 |  |  |  | 4,100 |  |  |  | 4,451 |  |  |  | 11,092 |
Cost of data hosting revenue, exclusive of depreciation |  |  | 2,150 |  |  |  | 1,078 |  |  |  | 3,181 |  |  |  | 3,192 |
Cost of revenue-depreciation |  |  | 1,200 |  |  |  | 6,010 |  |  |  | 2,364 |  |  |  | 15,872 |
Total segment and consolidated cost of revenues |  |  | 4,390 |  |  |  | 11,188 |  |  |  | 9,996 |  |  |  | 30,156 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses |  |  | 5,102 |  |  |  | 8,064 |  |  |  | 18,353 |  |  |  | 22,568 |
Impairment on fixed assets |  |  | 41 |  |  |  | 28,086 |  |  |  | 418 |  |  |  | 28,836 |
Impairment on equity investment |  |  | - |  |  |  | 750 |  |  |  | - |  |  |  | 750 |
Interest expense |  |  | 495 |  |  |  | 1,671 |  |  |  | 2,355 |  |  |  | 7,856 |
Loss on debt extinguishment and revaluation |  |  | 769 |  |  |  | 12,317 |  |  |  | 2,350 |  |  |  | 12,317 |
Loss on sale of fixed assets |  |  | 373 |  |  |  | 988 |  |  |  | 404 |  |  |  | 2,606 |
Other expense (income), net |  |  | 74 |  |  |  | (2 | ) |  |  | 301 |  |  |  | (2 | )
Income tax expense (benefit) from continuing operations |  |  | 569 |  |  |  | (547 | ) |  |  | (524 | ) |  |  | (1,344 | )
Net loss from continuing operations |  |  | (6,016 | ) |  |  | (56,143 | ) |  |  | (22,705 | ) |  |  | (79,379 | )
Income before income tax from discontinued operations |  |  | - |  |  |  | (21 | ) |  |  | - |  |  |  | 7,681 |
Income tax benefit from discontinued operations |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 70 |
Net income from discontinued operations |  |  | - |  |  |  | (21 | ) |  |  | - |  |  |  | 7,751 |
Net loss |  |  | (6,016 | ) |  |  | (56,164 | ) |  |  | (22,705 | ) |  |  | (71,628 | )
(Less) Net (income) loss attributable to non-controlling interest |  |  | (646 | ) |  |  | 272 |  |  |  | 206 |  |  |  | 272 |
Net loss attributable to Soluna Holdings, Inc. |  | $ | (6,662 | ) |  | $ | (55,892 | ) |  | $ | (22,499 | ) |  | $ | (71,356 | )
Capital expenditures |  |  | 9,639 |  |  |  | 9,249 |  |  |  | 12,534 |  |  |  | 61,867 |
Depreciation and amortization |  |  | 3,579 |  |  |  | 8,388 |  |  |  | 9,498 |  |  |  | 22,999 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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