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Stockholders’ Equity (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule of Fair Value Assumptions For Pre-funded, Series A and Series B Warrants Issued

The following table represents the significant fair value assumptions used for the Pre-funded, Series A, and Series B warrants issued or revalued during the three and nine months ended September 30, 2025.

 

   Three and Nine Months ended September 30, 2025 
Stock price  $0.60- 3.50 
Exercise price  $0.001- 0.55 
Expected term in years   1.79 – 5.00 
Expected dividend yield   0.00%
Volatility   130.0 – 140.0%
Risk-free interest rate   3.51- 3.99%
Schedule of Reserved Shares of Common Stock for Future Issuance

The Company had reserved common shares for future issuance as follows as of September 30, 2025:

 

      
Stock options outstanding   2,645 
Restricted stock units outstanding   199,190 
Warrants outstanding*   5,722,890 
Series B Preferred Stock outstanding   1,250,000 
Number of common shares reserved   7,174,725 

*The Company noted that there are 7,722,890 warrants outstanding as of September 30, 2025. However, as noted in Note 8, on September 28, 2025, the Company executed a side letter with the Holder in relation to the Generate Common Warrants to waive a clause that requires the Company to reserve 2.0 million shares of common stock until there is an increase in the authorized shares of the Company. Accordingly, 2.0 million warrants were not included in the reservation of common shares balance.
Schedule of Basic and Diluted Per Share Computations for Continuing Operations

The following table sets forth the reconciliation of the numerators and denominators of the basic and diluted per share computations for operations for the three and nine months ended September 30:

 

   2025   2024   2025   2024 
(Dollars in thousands, except shares) 

Three Months Ended

September 30,

  

Nine Months Ended

September 30,

 
   2025   2024   2025   2024 
                 
Numerator:                    
Net loss  $(25,787)  $(8,093)  $(40,921)  $(19,782)
(Less) Net income (loss) attributable to non-controlling interest   (1,831)   (903)   (2,027)   3,535 
Net loss attributable to Soluna Holdings, Inc.   (23,956)   (7,190)   (38,894)   (23,317)
Less: Preferred dividends or deemed dividends   (3,840)   -    (3,840)   (452)
Less: Cumulative Preferred Dividends in arrears   (2,950)   (2,786)   (8,858)   (7,117)
Balance  $(30,746)  $(9,976)  $(51,592)  $(30,886)
Denominator:                    
Basic and Diluted EPS:                    
Common shares outstanding, beginning of period, including penny warrants and excluding restricted stock awards not vested   8,106,814    2,592,454    8,106,814    2,592,454 
Weighted average common shares issued during the period including penny warrants issued and outstanding and excluding restricted stock awards not vested as of quarter-end   18,876,209    3,795,880    7,576,258    1,728,091 
Denominator for basic and diluted earnings per common shares — weighted average common shares   26,983,023    6,388,335    15,683,072    4,320,546 
Basic and diluted loss per share  $(1.14)  $(1.56)  $(3.29)  $(7.15)