2024 Q3 Form 10-Q Financial Statement

#000149315224032123 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $9.675M
YoY Change 367.84%
Cost Of Revenue $5.565M
YoY Change 126.4%
Gross Profit $4.110M
YoY Change -1153.85%
Gross Profit Margin 42.48%
Selling, General & Admin $7.785M
YoY Change 19.49%
% of Gross Profit 189.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.500M
YoY Change 174.22%
% of Gross Profit 36.5%
Operating Expenses $7.785M
YoY Change 19.49%
Operating Profit -$3.675M
YoY Change -48.05%
Interest Expense $449.0K
YoY Change 2.28%
% of Operating Profit
Other Income/Expense, Net -$49.00K
YoY Change -79.58%
Pretax Income -$9.794M
YoY Change -0.1%
Income Tax -$649.0K
% Of Pretax Income
Net Earnings -$10.87M
YoY Change 23.91%
Net Earnings / Revenue -112.38%
Basic Earnings Per Share -$2.97
Diluted Earnings Per Share -$2.97
COMMON SHARES
Basic Shares Outstanding 5.755M shares 3.922M shares
Diluted Shares Outstanding 4.564M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.558M
YoY Change 27.44%
Cash & Equivalents $12.51M
Short-Term Investments
Other Short-Term Assets $14.44M
YoY Change 5.4%
Inventory
Prepaid Expenses
Receivables $3.434M
Other Receivables $0.00
Total Short-Term Assets $27.48M
YoY Change 21.23%
LONG-TERM ASSETS
Property, Plant & Equipment $41.47M
YoY Change 9.83%
Goodwill
YoY Change
Intangibles $22.33M
YoY Change -29.64%
Long-Term Investments
YoY Change
Other Assets $7.070M
YoY Change 76.75%
Total Long-Term Assets $71.20M
YoY Change -3.76%
TOTAL ASSETS
Total Short-Term Assets $27.48M
Total Long-Term Assets $71.20M
Total Assets $98.68M
YoY Change 2.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.452M
YoY Change -22.16%
Accrued Expenses $6.286M
YoY Change 53.35%
Deferred Revenue $2.391M
YoY Change
Short-Term Debt $7.851M
YoY Change
Long-Term Debt Due $13.01M
YoY Change 60.59%
Total Short-Term Liabilities $32.53M
YoY Change 96.79%
LONG-TERM LIABILITIES
Long-Term Debt $9.028M
YoY Change -24.13%
Other Long-Term Liabilities $668.0K
YoY Change -62.89%
Total Long-Term Liabilities $9.696M
YoY Change -29.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.53M
Total Long-Term Liabilities $9.696M
Total Liabilities $48.74M
YoY Change 28.18%
SHAREHOLDERS EQUITY
Retained Earnings -$267.1M
YoY Change 12.41%
Common Stock $5.000K
YoY Change -83.87%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.80M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $24.37M
YoY Change
Total Liabilities & Shareholders Equity $98.68M
YoY Change 2.1%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$10.87M
YoY Change 23.91%
Depreciation, Depletion And Amortization $1.500M
YoY Change 174.22%
Cash From Operating Activities -$7.323M
YoY Change 826.96%
INVESTING ACTIVITIES
Capital Expenditures -$220.0K
YoY Change -110.68%
Acquisitions
YoY Change
Other Investing Activities -$1.616M
YoY Change -77.18%
Cash From Investing Activities -$1.396M
YoY Change -84.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.834M
YoY Change -34.96%
NET CHANGE
Cash From Operating Activities -7.323M
Cash From Investing Activities -1.396M
Cash From Financing Activities 9.834M
Net Change In Cash 1.115M
YoY Change -78.56%
FREE CASH FLOW
Cash From Operating Activities -$7.323M
Capital Expenditures -$220.0K
Free Cash Flow -$7.103M
YoY Change 149.23%

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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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SLNH Payments Of Loan
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SLNH Payments Of Loan
PaymentsOfLoan
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Repayments Of Lines Of Credit
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us-gaap Proceeds From Minority Shareholders
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us-gaap Payments To Minority Shareholders
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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2142000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1821000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Interest Paid Net
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SLNH Interest Paid On Navitas Loan
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SLNH Warrant Consideration In Relation To Convertible Notes And Revaluation
WarrantConsiderationInRelationToConvertibleNotesAndRevaluation
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SLNH Warrant Consideration In Relation To Convertible Notes And Revaluation
WarrantConsiderationInRelationToConvertibleNotesAndRevaluation
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us-gaap Stock Issued1
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us-gaap Stock Issued1
StockIssued1
1794000 usd
SLNH Noncash Membership Distribution Accrual
NoncashMembershipDistributionAccrual
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SLNH Warrant Consideration In Relation To Soluna Cloud
WarrantConsiderationInRelationToSolunaCloud
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SLNH Noncash Disposal Of Nydig Collateralized Equipment
NoncashDisposalOfNydigCollateralizedEquipment
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SLNH Promissory Note Conversion To Common Or Preferred Shares
PromissoryNoteConversionToCommonOrPreferredShares
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SLNH Noncash Noncontrolling Interest Contributions
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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SLNH Series B Preferred Dividend In Accrued Expense
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us-gaap Nature Of Operations
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<p id="xdx_803_eus-gaap--NatureOfOperations_zbd5BmCi9Xtc" style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_827_zU2MrSnk3DPd">Nature of Operations</span></b></span></p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0pt 0pt 0; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of Business</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Unless the context requires otherwise in these notes to the consolidated financial statements, the terms “SHI,” the “Company,” “we,” “us,” and “our” refer to Soluna Holdings, Inc. together with its consolidated subsidiaries, “SDI” refers to Soluna Digital, Inc. and previously, “SCI” refers to Soluna Computing, Inc., formerly known as EcoChain, Inc. </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soluna Holdings, Inc., formerly known as Mechanical Technology, Incorporated which was originally incorporated in the State of New York in 1961, reincorporated in the State of Nevada on March 24, 2021, and is headquartered in Albany, New York. Effective November 2, 2021, the Company changed its name from “Mechanical Technology, Incorporated” (or “MTI”) to “Soluna Holdings, Inc.” On October 29, 2021, Soluna Callisto merged into Soluna Computing, Inc. (“SCI”), a private green data center development company. The Company formed a wholly owned subsidiary of SHI on December 31, 2023, Soluna Digital, Inc. (“Soluna Digital”, or “SDI”). Effective December 31, 2023, SHI’s previously wholly-owned subsidiary, SCI transferred substantially all of its assets to SHI or its subsidiaries. SHI currently conducts its business through its wholly-owned subsidiary, SDI.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company formed a wholly owned subsidiary of SHI on March 24, 2024, Soluna Cloud, Inc. (“Soluna Cloud”) an operator of cloud, and co-location or data hosting services related to HPC and AI. Soluna Clou delivers a portion of its services through the website SolunaCloud.com. The Company formed a wholly owned subsidiary of SHI on April 2, 2024, Soluna Energy, Inc. (“Soluna Energy”, or “SEI”) to own and hold its renewable energy power purchase agreements and certain related land leases for data center projects through a series of services subsidiaries. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is a digital infrastructure company specializing in transforming surplus renewable energy into computing resources. Our modular data centers can co-locate with wind, solar, or hydroelectric power plants and support compute intensive applications including Bitcoin Mining, Generative AI, and Scientific Computing. This pioneering approach to data centers helps energize a greener grid while delivering cost-effective and sustainable computing solutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In fiscal year 2021, the Company began mining operations in Murray, Kentucky, (“Project Sophie”) and Calvert City, Kentucky, (“Project Marie”). Project Marie had performed hosting services and proprietary mining in which 10 megawatts were used for hosting services and 10 megawatts was used for proprietary mining through the end of February 2023, at which time the facility had been decommissioned. In the second quarter of fiscal year 2023, Project Sophie entered into hosting contracts with Bitcoin miners, which marked a shift in the Company’s business model at the Company’s modular data centers at Project Sophie from proprietary mining to hosting Bitcoin miners for the customers at the 25 MW facility. Currently, all of Project Sophie is performing data hosting, including an AI customer pilot during the first half of 2024. The Company has sold all of its existing Bitcoin miners at the Project Sophie site and redeployed capital. On September 17, 2022, the Company sold specified assets consisting mainly of mining equipment and other general equipment items to a buyer at its Wenatchee, Washington location, (“Project Edith”). Soluna has committed to providing certain facilities contracts at cost plus a markup to facilitate the continued operations for the sold mining assets, on behalf of the new ownership. Our Texas site (“Project Dorothy”) is located at a wind farm and has a potential for up to 100 MWs, of which the Company obtained approval from the ERCOT and energized 25 MW in May 2023 and energized another 25 MW in October 2023. The Company as of June 30, 2024, has a <span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DVSLComputeCoLLCMember_zwN4rQ2Y94hf" title="Ownership percentage">14.6</span>% ownership interest in Soluna DVSL ComputeCo, LLC (“DVSL”), owner of Project Dorothy 1A, and <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DVComputeCoLLCMember_ztzO2guXW5D2" title="Ownership percentage">55</span>% ownership interest in Soluna DV ComputeCo, LLC (“DVCC”), owner of Project Dorothy 1B, which are included within the Project Dorothy site, as discussed further in Note 15.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 18, 2024, Soluna AL CloudCo, LLC, a Delaware limited liability company (“CloudCo”), a subsidiary of Soluna Cloud and indirect wholly owned subsidiary of the Company entered into an HPE Support and Professional Services – Data Privacy and Security Agreement, an HPE &amp; AI Cloud Services Agreement, a related Statement of Work, and related ancillary agreements (collectively, the “HPE Agreement”) with Hewlett Packard Enterprise Company (“HPE”). Pursuant to the HPE Agreement, HPE agreed to provide datacenter and cloud services for artificial intelligence and supercomputing processes via Nvidia H100 Graphic Processing Units (“HPE GPUs”) to CloudCo in exchange for an aggregate of $<span id="xdx_906_ecustom--ContractPriceOfDataPrivacyAndSecurityAgreementWithHPESupportAndProfessionalServices_iI_pn5n6_c20240618_ztHdW3QFAuh2" title="Security agreement with support and professional services">34.0</span> million, including an initial pre-payment of $<span id="xdx_90F_ecustom--DownpaymentWithRegardToDataPrivacyAndSecurityAgreementWithHPESupportAndProfessionalServices_iI_pn5n6_c20240624_zvZEORkx9i0k" title="Initial pre-payment">10.3</span> million, included within Prepaid expenses and other current assets on the consolidated condensed balance sheet to be made on or before June 24, 2024. <span id="xdx_90E_ecustom--DescriptionOfPaymentTermsForAgreementWithHPESupportAndProfessionalServices_c20240618__20240618_zFE2YcWoj01g" title="Description of payment terms">The HPE Agreement has a term of 36 months, during which monthly payments will be made for approximately $667 thousand, and the services thereunder are expandable upon agreement of the parties</span>. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Going Concern and Liquidity</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s consolidated condensed financial statements as of June 30, 2024 have been prepared using generally accepted accounting principles in the United States of America (“U.S. GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. As shown in the accompanying condensed financial statements, the Company was in a net loss, has negative working capital, and has significant outstanding debt as of June 30, 2024. These factors, among others indicate that there is substantial doubt about the Company’s ability to continue as a going concern within one year after issuance of these condensed financial statements as of June 30, 2024, or August 14, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soluna MC Borrowing 2021-1 (the “Borrower”), received a Notice of Acceleration and Repossession (the “NYDIG Notice”) from NYDIG ABL LLC (“NYDIG”) with respect to the Master Equipment Finance Agreement, dated as of December 30, 2021 (the “MEFA”), by and between Borrower and NYDIG. The NYDIG Notice states that (a) Borrower failed to observe or perform certain covenants, conditions or agreements contained in the MEFA and such failure continued unremedied for a period of ten days after Borrower’s knowledge of such breach, which resulted in an event of default under the MEFA, and (b) Borrower defaulted under the guaranty, collateral agreement, or other support agreement, which resulted in an event of default under the MEFA. In addition, the NYDIG Notice states that Borrower failed to pay certain payments of principal and interest under the MEFA when due, which failure also constituted an event of default under the MEFA. As a result of the foregoing events of default, and pursuant to the MEFA, NYDIG (x) declared the principal amount of all loans due and owing under the MEFA and all accompanying Loan Documents (as defined in the MEFA) to be due and immediately payable, (y) imposed a default rate of interest on any outstanding principal amount of each loan (together with all then unpaid interest accruing thereon) and all other obligations under the MEFA and the Loan Documents, and (z) demanded the return of all equipment subject to the MEFA and the Loan Documents. The obligations of Borrower under the MEFA and reflected in the NYDIG Notice were ring-fenced to Borrower and its direct parent company, Soluna MC LLC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 23, 2023, NYDIG proceeded to foreclose on all of the collateral securing the MEFA, which resulted in a reportable disposition of all of the Company’s mining assets at the site and certain of the operating assets of Project Marie. The total net book value of the collateralized assets that were repossessed totaled approximately $<span id="xdx_90D_eus-gaap--ForeclosedAssets_iI_pn5n6_c20230223__dei--LegalEntityAxis__custom--NYDIGABLLLCMember_zz2m3Kz0RQTb" title="Value of collateralized assets repossessed">3.4</span> million. Additionally, NYDIG has stated its intention to pursue SCI, the parent company of Soluna MC, LLC (“Guarantor”), under a piercing of the corporate veil claim relating to the Guarantor together with Borrower, (“NYDIG Defendants”) debts and liabilities under the loan documents. SCI denies any such liability and has filed a complaint for a declaratory judgment against NYDIG in the Eighth Judicial District Court in Clark County, Nevada on March 16, 2023, seeking a declaratory judgment as to such matter. NYDIG filed a motion to dismiss in response to SCI’s declaratory judgment complaint on April 13, 2023. SCI filed a response in opposition to NYDIG’s motion to dismiss on April 27, 2023. The court heard oral arguments on May 16, 2023. On June 22, 2023, the court issued an order granting NYDIG’s motion to dismiss, on the basis that the case was not ripe for decision, without prejudice. SCI intends to continue to vigorously defend any allegations regarding liability on account of NYDIG Defendants’ debts and liabilities to NYDIG under their loan documents and intends to refile a declaratory judgment complaint against NYDIG. As of June 30, 2024, the Borrower has an outstanding principal balance of approximately $<span id="xdx_909_eus-gaap--DebtCurrent_iI_pn5n6_c20240630__dei--LegalEntityAxis__custom--NYDIGABLLLCMember_zLcVgwaXsGda" title="Outstanding principal balance">9.2</span> million and accrued interest and penalties of approximately $<span id="xdx_901_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pn5n6_c20240630__dei--LegalEntityAxis__custom--NYDIGABLLLCMember_zQkUEk8Wb75j" title="Accrued interest and penalities">1.5</span> million. See Note 10 for further information in relation to the NYDIG litigation matter.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. In the near term, management is evaluating and implementing different strategies to obtain financing to fund the Company’s expenses and growth to achieve a level of revenue adequate to support the Company’s current cost structure. Financing strategies may include, but are not limited to, stock issuances, project level equity, debt borrowings, partnerships and/or collaborations. If the Company is unable to meet its financial obligations, it could be forced to restructure or refinance, seek additional equity capital or sell its assets. The Company might then be unable to obtain such financing or capital or sell its assets on satisfactory terms. There can be no assurance that additional financing will be available to the Company when needed or, if available, that it can be obtained on commercially reasonable terms. If the Company is not able to obtain the additional financing on a timely basis, if and when it is needed, it will be forced to delay or scale down some or all of its development activities or perhaps even cease the operation of its business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition to the Company’s cash on hand for available use of approximately $<span id="xdx_903_eus-gaap--Cash_iI_pn5n6_c20240630_zwbrhfrf0Rhd" title="Cash on hand">9.6</span> million as of June 30, 2024, the Company will need additional capital raising activities, to meet its capital expenditure needs for its current pipeline and other operational needs. The Company in fiscal year 2024 will continue to look to evaluate different strategies to obtain financing to fund operations. However, management cannot provide any assurances that the Company will be successful in accomplishing additional financing or any of its other plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 SLNH Contract Price Of Data Privacy And Security Agreement With Hpe Support And Professional Services
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34000000.0 usd
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<p id="xdx_841_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z66SLxTaZZ27" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86D_z0yLoOBMGBq1">Reclassification</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations or net assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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2400000 usd
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4700000 usd
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4700000 usd
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CY2024Q2 SLNH Finite Lived Intangible Assets Amortization Expense After Year Four
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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3700000 usd
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4000000.0 usd
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2800000 usd
CY2024Q2 SLNH Note Extension Percentage
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CY2024Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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325000 usd
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7900000 usd
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
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251000 usd
CY2023Q1 us-gaap Debt Weighted Average Interest Rate
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0.18 pure
CY2023Q1 us-gaap Debt Default Longterm Debt Amount
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617000 usd
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617000 usd
CY2023Q2 SLNH Extension Fee
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250000 usd
CY2023Q2 SLNH Percentage Of Principal Outstanding
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CY2023Q2 us-gaap Debt Instrument Interest Rate Increase Decrease
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SLNH Debt Instrument Prepayment Penalty Percentage
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0.20 pure
SLNH Debt Instrument Prepayment Penalty Description
DebtInstrumentPrepaymentPenaltyDescription
Under the new Transaction Documents, in the event the prepayment occurs between February 15, 2024 and July 24, 2024, prepayment penalty is reduced to 10%.
us-gaap Debt Conversion Converted Instrument Amount1
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1500000 usd
us-gaap Debt Instrument Convertible Conversion Price Increase
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5.00
us-gaap Debt Conversion Converted Instrument Shares Issued1
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50000 shares
CY2024Q1 us-gaap Derivative Description Of Terms
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ATM Floor Price means $10 per share initially, which is reduced to $8 per share six months after the ATM is effective and $6 per share 12 months after the after the effective date of the ATM.
CY2024Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
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0.02 pure
CY2024Q1 us-gaap Debt Instrument Convertible Conversion Price1
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3.78
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
850000 shares
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2024Q1 us-gaap Debt Instrument Description
DebtInstrumentDescription
For every one $6.00 Repriced Warrant exercised by a Purchaser, such Purchaser shall receive 1.36 new five-year warrants with an exercise price of $0.01, 1.6 new five-year warrants with an exercise price of $4.20, and 1.6 new five-year warrants with an exercise price of $5.70.
CY2024Q2 SLNH Extension Fee
ExtensionFee
325000 usd
SLNH Extension Fee
ExtensionFee
325000 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.78
CY2024Q2 SLNH Warrant Repriced Price Per Share
WarrantRepricedPricePerShare
6.00
CY2024Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
5800000 usd
CY2024Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
386000 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
6
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4
CY2024Q2 SLNH Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Percentage
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsPercentage
0.6183 pure
CY2024Q2 us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
66000 usd
CY2024Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
50000 shares
CY2024Q1 SLNH Warrant Repriced Price Per Share
WarrantRepricedPricePerShare
6.00
CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.00
CY2024Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
428951 shares
us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
April 25, 2023 thru January 25, 2027*
us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
12% thru 15%
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
237.50
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
19.00
CY2024Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.14 pure
CY2024Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.15 pure
CY2024Q2 us-gaap Notes Payable
NotesPayable
12500000 usd
CY2024Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.09 pure
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
112500000 usd
CY2024Q2 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
314000 usd
CY2024Q2 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
31000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
31000 usd
CY2021Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000.0 usd
CY2021Q3 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0075 pure
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
350000 usd
CY2023 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
350000 usd
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of the Company’s common stock is entitled to one vote on all matters submitted to stockholders.
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5232104 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2505620 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3325 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
5692 shares
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3820152 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
15951 shares
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3845120 shares
CY2024Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-9145000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-9257000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-11689000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-16689000 usd
CY2024Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1728000 usd
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-482000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4438000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-852000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-10873000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-8775000 usd
us-gaap Net Income Loss
NetIncomeLoss
-16127000 usd
us-gaap Net Income Loss
NetIncomeLoss
-15837000 usd
CY2024Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
66000 usd
CY2023Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
252000 usd
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
452000 usd
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
383000 usd
CY2024Q2 SLNH Cumulative Preferred Dividends In Arrears
CumulativePreferredDividendsInArrears
2609000 usd
CY2023Q2 SLNH Cumulative Preferred Dividends In Arrears
CumulativePreferredDividendsInArrears
1722000 usd
SLNH Cumulative Preferred Dividends In Arrears
CumulativePreferredDividendsInArrears
4331000 usd
SLNH Cumulative Preferred Dividends In Arrears
CumulativePreferredDividendsInArrears
3444000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13548000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10749000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20910000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19664000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
2958851 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
1015255 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
2592454 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
940047 shares
CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1594845 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
109436 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1091104 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
55021 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4563696 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1126091 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3683558 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
996228 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.97
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.97
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-9.54
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-9.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.68
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-19.74
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-19.74
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
61000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
60000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
122000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
116000 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
61000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
60000 usd
us-gaap Lease Cost
LeaseCost
122000 usd
us-gaap Lease Cost
LeaseCost
116000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M24D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0703 pure
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
123000 usd
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
111000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
397000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
124000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
79000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
29000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
29000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
29000 usd
CY2024Q2 SLNH Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
116000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
406000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
78000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
328000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
159000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
169000 usd
us-gaap Other Commitments Description
OtherCommitmentsDescription
The Company has a potential contingency associated with an agreement with Spring Lane of up to $250 thousand which would be reduced by a proportion of funding received from Spring Lane up to the $35.0 million aggregate contribution cap. The Company considers the probability of a payment for the contingency to be remote
CY2024Q2 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
358000 usd
CY2024Q2 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
9200000 usd
us-gaap Litigation Settlement Gain
LitigationSettlementGain
254000 usd
CY2024Q2 us-gaap Litigation Settlement Gain
LitigationSettlementGain
254000 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
109000 usd
CY2023 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
110000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.0975 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.0975 pure
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.2375 pure
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.2375 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
Third Amended and Restated 2021 Plan will, among other things, (a) increase the number of shares of our Common Stock reserved for issuance thereunder, on a quarterly basis, to 18.75% of the shares of our Common Stock outstanding on the measurement date and (b) allow us to grant awards of shares of our 9.0% Series A Cumulative Perpetual Preferred Stock (“Series A Preferred Stock”) (with and without restrictions). Subject to certain adjustments as provided in the Third Amended and Restated 2021 Plan, the maximum aggregate number of shares of our Common Stock that may be issued under the Third Amended and Restated 2021 Plan (excluding the number of shares of our Common Stock subject to Specified Awards (as defined below)) (i) pursuant to the exercise of stock options, (ii) as unrestricted or restricted Common Stock, and (iii) in settlement of RSUs shall be limited to, beginning with the first quarter of our fiscal year ending December 31, 2023 (or January 1, 2023), 18.75% of the number of shares of our Common Stock outstanding as of the first trading day of each quarter. Subject to certain adjustments as provided in the Third Amended and Restated 2021 Plan, the maximum aggregate number of shares of our Series A Preferred Stock that may be issued under the Third Amended and Restated 2021 Plan as unrestricted or restricted Series A Preferred Stock shall equal $3,600,000 valued as of the effective date of the Third Amended and Restated 2021 Plan as determined at the lower of the closing price of our Series A Preferred Stock on Nasdaq on such date or the average of the daily volume weighted average price of our Series A Preferred Stock on Nasdaq as reported by Bloomberg L.P. for a period of five (5) consecutive trading days ending on such date. Subject to certain adjustments as provided in the Third Amended and Restated 2021 Plan, (i) shares of our Common Stock and Series A Preferred Stock, as applicable, subject to the Third Amended and Restated 2021 Plan shall include shares of our Common Stock and Series A Preferred Stock, as applicable, which revert back to the Third Amended and Restated 2021 Plan in a prior quarter or fiscal year, as applicable, pursuant to the paragraph below, and (ii) the number of shares of our Common Stock and Series A Preferred Stock, as applicable, that may be issued under the Third Amended and Restated 2021 Plan may never be less than the number of shares of our Common Stock and Series A Preferred Stock, as applicable, that are then outstanding under (or available to settle existing) 2021 Plan Award grants. For purposes of the Third Amended and Restated 2021 Plan, “Specified Awards” means (i) 2021 Plan Awards issued to Eligible Persons who are not employed or engaged by us or any of our subsidiaries as of the last day of any fiscal quarter, commencing with the fiscal quarter ending March 31, 2023, and (ii) 2021 Plan Awards that have a grant date at least three (3) years prior to the last day of any fiscal quarter, commencing with the fiscal quarter ending March 31, 2023. The exclusion of Specified Awards from the determination of the maximum aggregate number of shares of our Common Stock available for issuance under the Third Amended and Restated 2021 Plan could have material effect on the number of shares of our Common Stock available for issuance thereunder and could have a material dilutive effect on our stockholders.
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5800000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y4M24D
CY2024Q2 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
48547 shares
CY2024Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
4000000.0 usd
CY2023 SLNH Collateral Amount
CollateralAmount
740000 usd
us-gaap Insurance Recoveries
InsuranceRecoveries
32000 usd
CY2022Q3 us-gaap Other Commitments Description
OtherCommitmentsDescription
Pursuant to the Dorothy Contribution Agreement, the Company committed to a capital contribution of up to approximately $26.3 million to DVSL (the “Company Commitment”), and on August 5, 2022, the Company was deemed to have contributed approximately $8.1 million, through payment of capital expenditures and development costs made on behalf of DVSL by the Company prior to August 5, 2022. Further under the Agreement, Spring Lane committed to a capital contribution of up to $12.5 million to DVSL (the “Spring Lane Dorothy Commitment”), and as of December 31, 2022, Spring Lane had actually contributed approximately $4.8 million.
CY2023Q2 us-gaap Other Commitments Description
OtherCommitmentsDescription
the Company had contributed capital expenditures for the data center. Soluna and Navitas amended and restated the Initial LLCA (the “Existing LLCA”) to reflect Navitas’ contribution of $4,500,000 and its receipt of 4,500 Membership Interests, constituting 26.5% of the outstanding Membership Interests of the Company. On June 2, 2023, Soluna and Navitas amended and restated the Existing LLCA to (a) reflect (i) Navitas’s additional capital contribution of $7,596,970 and receipt of an additional 7,597 Membership Interests, for a total of 12,097 Membership Interests and 49% ownership of DVCC, and (ii) Soluna’s additional capital contribution of $1,340,000 and receipt of an additional 1,340 Membership Interests, for a total of 12,590 Membership Interests and 51% ownership of DVCC, and (b) describe the respective rights and obligations of the Members and the management of DVCC. As of June 30, 2024, Navitas owns 45% and Soluna owns 55% of DVCC.
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
0 segment

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