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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Total revenue $ 5,797 $ 6,372 $ 10,948 $ 24,364
Operating costs:        
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
Costs of revenue- depreciation 1,200 6,010 2,364 15,872
Total costs of revenue 4,390 11,188 9,996 30,156
Operating expenses:        
General and administrative expenses, exclusive of depreciation and amortization 2,723 5,686 11,219 15,441
Depreciation and amortization associated with general and administrative expenses 2,379 2,378 7,134 7,127
Total general and administrative expenses 5,102 8,064 18,353 22,568
Impairment on equity investment 750 750
Impairment on fixed assets 41 28,086 418 28,836
Operating loss (3,736) (41,716) (17,819) (57,946)
Interest expense (495) (1,671) (2,355) (7,856)
Loss on debt extinguishment and revaluation, net (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
Loss before income taxes from continuing operations (5,447) (56,690) (23,229) (80,723)
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 taxes 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)
Basic and Diluted (loss) earnings per common share:        
Net loss from continuing operations per share Basic [1] $ (4.40) $ (95.49) $ (20.11) $ (146.46)
Net loss from continuing operations per share Diluted [1] (4.40) (95.49) (20.11) (146.46)
Net income from discontinued operations per share Basic [1] (0.04) 13.64
Net income from discontinued operations per share Diluted [1] (0.04) 13.64
Basic loss per share [1] (4.40) (95.53) (20.11) (132.82)
Diluted loss per share [1] $ (4.40) $ (95.53) $ (20.11) $ (132.82)
Weighted average shares outstanding Basic [1] 1,374,364 587,921 1,149,745 568,307
Weighted average shares outstanding Diluted [1] 1,374,364 587,921 1,149,745 568,307
Cryptocurrency Mining Revenue [Member]        
Total revenue $ 1,786 $ 5,387 $ 5,497 $ 20,696
Data Hosting Revenue [Member]        
Total revenue 4,011 985 5,451 3,668
Operating costs:        
Total costs of revenue $ 1,200 $ 6,010 $ 2,364 $ 15,872
[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.