Soluna (SLNH) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 09, 2024
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-40261
Entity Registrant Name	Soluna Holdings, Inc.
Entity Central Index Key	0000064463
Entity Tax Identification Number	14-1462255
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	325 Washington Avenue Extension
Entity Address, City or Town	Albany
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	12205
City Area Code	(516)
Local Phone Number	216-9257
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,755,187
Common Stock, par value $0.001 per share
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SLNH
Security Exchange Name	NASDAQ
9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share
Title of 12(b) Security	9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share
Trading Symbol	SLNHP
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 9,558	$ 6,368
Restricted cash	1,951	2,999
Accounts receivable, net (allowance for expected credit losses $244 and $0 as of June 30, 2024 and December 31, 2023)	3,434	2,948
Notes receivable	48	446
Prepaid expenses and other current assets	12,461	1,416
Equipment held for sale	28	107
Total Current Assets	27,480	14,284
Restricted cash, noncurrent	1,000	1,000
Other assets	2,946	2,954
Deposits and credits on equipment	3,124	1,028
Property, plant and equipment, net	41,472	44,572
Intangible assets, net	22,328	27,007
Operating lease right-of-use assets	325	431
Total Assets	98,675	91,276
Current Liabilities:
Accounts payable	2,452	2,099
Accrued liabilities	6,286	4,906
Convertible notes payable	7,851	8,474
Current portion of debt	13,008	10,864
Income tax payable	65	24
Warrant liability	314
Customer deposits-current	2,391	1,588
Operating lease liability	159	220
Total Current Liabilities	32,526	28,175
Other liabilities	499	499
Customer deposits- long-term		1,248
Long-term debt	9,028
Operating lease liability	169	216
Deferred tax liability, net	6,520	7,779
Total Liabilities	48,742	37,917
Commitments and Contingencies (Note 10)
Stockholders’ Equity:
Common stock, par value $0.001 per share, authorized 75,000,000; 5,272,845 shares issued and 5,232,104 shares outstanding as of June 30, 2024 and 2,546,361 shares issued and 2,505,620 shares outstanding as of December 31, 2023	5	3
Additional paid-in capital	305,250	291,276
Accumulated deficit	(267,097)	(250,970)
Common stock in treasury, at cost, 40,741 shares at June 30, 2024 and December 31, 2023	(13,798)	(13,798)
Total Soluna Holdings, Inc. Stockholders’ Equity	24,365	26,514
Non-Controlling Interest	25,568	26,845
Total Stockholders’ Equity	49,933	53,359
Total Liabilities and Stockholders’ Equity	98,675	91,276
Series A Preferred Stock [Member]
Stockholders’ Equity:
Preferred stock, value	5	3
Series B Preferred Stock [Member]
Stockholders’ Equity:
Preferred stock, value

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Allowance for expected credit loss	$ 244
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	5,272,845	2,546,361
Common stock, shares outstanding	5,232,104	2,505,620
Treasury stock, shares	40,741	40,741
Series A Preferred Stock [Member]
Preferred stock, cumulative percentage	9%	9%
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, liquidation preference	$ 25	$ 25
Preferred stock, shares authorized	6,040,000	6,040,000
Preferred Stock, shares issued	4,953,545	3,061,245
Preferred Stock, shares outstanding	4,953,545	3,061,245
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	187,500	187,500
Preferred Stock, shares issued	62,500	62,500
Preferred Stock, shares outstanding	62,500	62,500

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total revenue		$ 9,675	$ 2,068	$ 22,224	$ 5,150
Operating costs:
Total costs of revenue		5,565	2,458	11,180	5,605
Operating expenses:
General and administrative expenses, exclusive of depreciation and amortization		5,382	4,136	9,378	8,496
Depreciation and amortization associated with general and administrative expenses		2,403	2,379	4,805	4,756
Total general and administrative expenses		7,785	6,515	14,183	13,252
Impairment on fixed assets			169	130	377
Operating loss		(3,675)	(7,074)	(3,269)	(14,084)
Interest expense		(449)	(486)	(873)	(1,861)
Loss on debt extinguishment and revaluation, net		(5,600)	(2,054)	(8,698)	(1,581)
(Loss) gain on sale of fixed assets		(21)	48	(21)	(30)
Other expense, net		(49)	(238)	(25)	(226)
Loss before income taxes		(9,794)	(9,804)	(12,886)	(17,782)
Income tax benefit		649	547	1,197	1,093
Net loss		(9,145)	(9,257)	(11,689)	(16,689)
(Less) Net income (loss) attributable to non-controlling interest		1,728	(482)	4,438	(852)
Net loss attributable to Soluna Holdings, Inc.		$ (10,873)	$ (8,775)	$ (16,127)	$ (15,837)
Earnings Per Share, Diluted	[1]	$ (2.97)	$ (9.54)	$ (5.68)	$ (19.74)
Weighted Average Number of Shares Outstanding, Diluted	[1]	4,563,696	1,126,091	3,683,558	996,228
Cryptocurrency Mining Revenue [Member]
Total revenue		$ 4,484	$ 915	$ 10,880	$ 3,711
Operating costs:
Total costs of revenue		1,883	1,160	3,724	3,410
Data Hosting Revenue [Member]
Total revenue		4,898	1,153	10,176	1,439
Operating costs:
Total costs of revenue		2,176	759	4,427	1,031
Demand Response Services [Member]
Total revenue		293		1,168
Cost of Revenue Depreciation [Member]
Operating costs:
Total costs of revenue		$ 1,506	$ 539	$ 3,029	$ 1,164
[1]Prior period results have been adjusted to reflect the Reverse Stock Split of the Common Stock at a ratio of 1-for-25

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical)	Oct. 13, 2023
Income Statement [Abstract]
Reverse stock split	1-for-25

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)		Series A Preferred Stock [Member] Preferred Stock [Member]	Series B Preferred Stock [Member] Preferred Stock [Member]	Common Stock [Member]		Additional Paid-in Capital [Member]		Retained Earnings [Member]	Treasury Stock, Common [Member]		Noncontrolling Interest [Member]	Total
Balance at Dec. 31, 2022		$ 3,000		$ 1,000	[1]	$ 277,429,000	[1]	$ (221,769,000)	$ (13,798,000)		$ 4,406,000	$ 46,272,000
Balance, shares at Dec. 31, 2022		3,061,245	62,500	788,578	[1]				40,741	[1]
Net (loss) income					[1]		[1]	(7,062,000)			(370,000)	(7,432,000)
Preferred dividends-Series B					[1]	(131,000)	[1]					(131,000)
Stock-based compensation					[1]	865,000	[1]					865,000
Issuance of shares – securities purchase offering					[1]	439,000	[1]					439,000
Issuance of shares - Securities Purchase offering, shares	[1]			87,144
Restricted stock units vested					[1]		[1]
Restricted stock units vested, shares	[1]			5,769
Issuance of shares – restricted stock					[1]	14,000	[1]					14,000
Issuance of shares - restricted stock, shares	[1]			1,400
Issuance of shares- Notes conversion					[1]	1,394,000	[1]					1,394,000
Issuance of shares- Notes conversion, shares	[1]			174,505
Contribution from Non-Controlling interest					[1]		[1]				8,758,000	8,758,000
Balance at Mar. 31, 2023		$ 3,000		$ 1,000	[1]	280,010,000	[1]	(228,831,000)	$ (13,798,000)		12,794,000	50,179,000
Balance, shares at Mar. 31, 2023		3,061,245	62,500	1,057,396	[1]				40,741	[1]
Balance at Dec. 31, 2022		$ 3,000		$ 1,000	[1]	277,429,000	[1]	(221,769,000)	$ (13,798,000)		4,406,000	46,272,000
Balance, shares at Dec. 31, 2022		3,061,245	62,500	788,578	[1]				40,741	[1]
Net (loss) income												(16,689,000)
Issuance of shares- Notes conversion												1,800,000
Balance at Jun. 30, 2023		$ 3,000		$ 1,000	[1]	284,166,000	[1]	(237,606,000)	$ (13,798,000)		25,855,000	58,621,000
Balance, shares at Jun. 30, 2023		3,061,245	62,500	1,230,650	[1]				40,741	[1]
Balance at Mar. 31, 2023		$ 3,000		$ 1,000	[1]	280,010,000	[1]	(228,831,000)	$ (13,798,000)		12,794,000	50,179,000
Balance, shares at Mar. 31, 2023		3,061,245	62,500	1,057,396	[1]				40,741	[1]
Net (loss) income					[1]		[1]	(8,775,000)			(482,000)	(9,257,000)
Preferred dividends-Series B					[1]	(252,000)	[1]					(252,000)
Stock-based compensation					[1]	2,232,000	[1]					2,232,000
Issuance of shares – securities purchase offering					[1]	446,000	[1]					446,000
Issuance of shares - Securities Purchase offering, shares	[1]			63,978
Restricted stock units vested					[1]		[1]
Restricted stock units vested, shares	[1]			25,125
Issuance of shares- Notes conversion					[1]	400,000	[1]					400,000
Issuance of shares- Notes conversion, shares	[1]			64,351
Contribution from Non-Controlling interest					[1]		[1]				13,543,000	13,543,000
Issuance of shares-merger shares					[1]		[1]
Issuance of shares -merger shares, shares	[1]			19,800
Warrants and valuation issued in relation to debt amendment					[1]	1,330,000	[1]					1,330,000
Balance at Jun. 30, 2023		$ 3,000		$ 1,000	[1]	284,166,000	[1]	(237,606,000)	$ (13,798,000)		25,855,000	58,621,000
Balance, shares at Jun. 30, 2023		3,061,245	62,500	1,230,650	[1]				40,741	[1]
Net (loss) income					[1]		[1]	(6,662,000)			646,000	(6,016,000)
Preferred dividends-Series B					[1]	(38,000)	[1]					(38,000)
Stock-based compensation					[1]	595,000	[1]					595,000
Issuance of shares – securities purchase offering					[1]	770,000	[1]					770,000
Issuance of shares - Securities Purchase offering, shares	[1]			113,502
Issuance of shares- Notes conversion					[1]	650,000	[1]					650,000
Issuance of shares- Notes conversion, shares	[1]			104,577
Contribution from Non-Controlling interest					[1]		[1]				151,000	151,000
Common Shares and Warrants for Series B dividend payment					[1]	656,000	[1]					656,000
Common Shares and Warrants for Series B dividend payment, shares	[1]			44,000
Balance at Sep. 30, 2023		$ 3,000		$ 1,000	[1]	286,799,000	[1]	(244,268,000)	$ (13,798,000)		26,652,000	55,389,000
Balance, shares at Sep. 30, 2023		3,061,245	62,500	1,492,729	[1]				40,741	[1]
Net (loss) income					[1]		[1]	(6,702,000)			1,705,000	(4,997,000)
Stock-based compensation					[1]	602,000	[1]					602,000
Restricted stock units vested					[1]		[1]
Restricted stock units vested, shares	[1]			2,299
Issuance of shares- Notes conversion				$ 2,000	[1]	3,568,000	[1]					3,570,000
Issuance of shares- Notes conversion, shares	[1]			892,245
Contribution from Non-Controlling interest					[1]		[1]				8,000	8,000
Issuance of shares-merger shares					[1]		[1]
Issuance of shares -merger shares, shares	[1]			39,600
Issuance of shares – warrant exercise					[1]		[1]
Issuance of shares - warrant exercises, shares	[1]			81,726
True up shares for reverse split					[1]		[1]
True up shares for reverse split, shares	[1]			37,762
Warrant revaluation					[1]	307,000	[1]					307,000
Distribution to Non-Controlling interest					[1]		[1]				(1,520,000)	(1,520,000)
Balance at Dec. 31, 2023		$ 3,000		$ 3,000	[1]	291,276,000	[1]	(250,970,000)	$ (13,798,000)		26,845,000	53,359,000
Balance, shares at Dec. 31, 2023		3,061,245	62,500	2,546,361	[1]				40,741	[1]
Net (loss) income								(5,254,000)			2,710,000	(2,544,000)
Stock-based compensation						661,000						661,000
Issuance of shares- Notes conversion						1,023,000						1,023,000
Issuance of shares- Notes conversion, shares				270,572
Issuance of shares – warrant exercise						300,000						300,000
Issuance of shares - warrant exercises, shares				61,501
Warrant revaluation						(1,715,000)						(1,715,000)
Distribution to Non-Controlling interest											(2,233,000)	(2,233,000)
Reverse split adjustment
Reverse split adjustment, shares				17
Restricted stock units vested
Restricted stock units invested, shares				3,780
Balance at Mar. 31, 2024		$ 3,000		$ 3,000		291,545,000		(256,224,000)	$ (13,798,000)		27,322,000	48,851,000
Balance, shares at Mar. 31, 2024		3,061,245	62,500	2,882,231					40,741
Balance at Dec. 31, 2023		$ 3,000		$ 3,000	[1]	291,276,000	[1]	(250,970,000)	$ (13,798,000)		26,845,000	53,359,000
Balance, shares at Dec. 31, 2023		3,061,245	62,500	2,546,361	[1]				40,741	[1]
Net (loss) income												(11,689,000)
Issuance of shares- Notes conversion												3,700,000
Balance at Jun. 30, 2024		$ 5,000		$ 5,000		305,250,000		(267,097,000)	$ (13,798,000)		25,568,000	49,933,000
Balance, shares at Jun. 30, 2024		4,953,545	62,500	5,272,845					40,741
Balance at Mar. 31, 2024		$ 3,000		$ 3,000		291,545,000		(256,224,000)	$ (13,798,000)		27,322,000	48,851,000
Balance, shares at Mar. 31, 2024		3,061,245	62,500	2,882,231					40,741
Net (loss) income								(10,873,000)			1,728,000	(9,145,000)
Stock-based compensation						1,368,000						1,368,000
Restricted stock units vested
Restricted stock units vested, shares				100
Issuance of shares- Notes conversion				$ 1,000		2,688,000						2,689,000
Issuance of shares- Notes conversion, shares				711,393
Common Shares and Warrants for Series B dividend payment												66,000
Issuance of shares – warrant exercise						2,004,000						2,004,000
Issuance of shares - warrant exercises, shares				529,354
Warrant revaluation						7,648,000						7,648,000
Distribution to Non-Controlling interest											(3,482,000)	(3,482,000)
Series A Preferred Stock issuance		$ 2,000				(2,000)
Series A preference shares issued, shares		1,892,300
Issuance of shares- Restricted stock awards				1,000		(1,000)
Issuance of shares - restricted stock awards, shares				1,149,767
Balance at Jun. 30, 2024		$ 5,000		$ 5,000		$ 305,250,000		$ (267,097,000)	$ (13,798,000)		$ 25,568,000	$ 49,933,000
Balance, shares at Jun. 30, 2024		4,953,545	62,500	5,272,845					40,741
[1]Prior period results have been adjusted to reflect the Reverse Stock Split of the Common Stock at a ratio of 1-for-25

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical)	Oct. 13, 2023
Statement of Stockholders' Equity [Abstract]
Reverse stock split	1-for-25

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Operating Activities
Net loss	$ (9,145)	$ (2,544)	$ (4,997)	$ (6,016)	$ (9,257)	$ (7,432)	$ (11,689)	$ (16,689)
Adjustments to reconcile net loss to net cash provided by (used in) by operating activities:
Depreciation expense	1,500				547		3,091	1,179
Amortization expense							4,743	4,741
Stock-based compensation							2,029	3,111
Deferred income taxes	(714)				(544)		(1,259)	(1,094)
Impairment on fixed assets					169		130	377
Provision for credit losses	244						244
Amortization of operating lease asset							122	116
Loss (gain) on debt extinguishment and revaluation, net	5,600				2,054		8,698	1,581
Amortization on deferred financing costs and discount on notes							59	739
Loss on sale of fixed assets	21				(48)		21	30
Changes in operating assets and liabilities:
Accounts receivable							(486)	(924)
Prepaid expenses and other current assets							(10,767)	(101)
Other long-term assets							1	(308)
Accounts payable							353	696
Deferred revenue								532
Operating lease liabilities							(123)	(111)
Other liabilities and customer deposits							(404)	1,294
Accrued liabilities							1,764	995
Net cash used in operating activities							(3,473)	(3,836)
Investing Activities
Purchases of property, plant, and equipment							(278)	(2,895)
Purchases of intangible assets							(64)	(44)
Proceeds from disposal on property, plant, and equipment							215	1,286
Deposits of equipment, net							(2,096)	(7,916)
Net cash used in investing activities							(2,223)	(9,569)
Financing Activities
Proceeds from common stock warrant exercises							2,304
Proceeds from common stock securities purchase agreement offering								43
Proceeds from notes and debt issuance							13,220	2,900
Payments on Navitas loan and notes payable							(1,910)	(175)
Costs of common stock securities purchase agreement offering								(4)
Payments on NYDIG loans and line of credit								(350)	$ (350)
Contributions from non-controlling interest								19,414
Distributions to non-controlling interest							(5,776)
Net cash provided by financing activities							7,838	21,828
Increase in cash & restricted cash							2,142	8,423
Cash & restricted cash – beginning of period		$ 10,367		$ 10,244		$ 1,821	10,367	1,821	1,821
Cash & restricted cash – end of period	$ 12,509		$ 10,367		$ 10,244		12,509	10,244	$ 10,367
Supplemental Disclosure of Cash Flow Information
Interest paid on NYDIG loans and line of credit							115	6
Interest paid on Navitas loan							88
Warrant consideration in relation to convertible notes and revaluation of warrant liability							7,648	1,330
Notes converted to common stock							3,712	1,794
Noncash membership distribution accrual							456
Warrant consideration in relation to Soluna Cloud							314
Noncash disposal of NYDIG collateralized equipment								3,388
Promissory note and interest conversion to common shares								845
Noncash non-controlling interest contributions								2,887
Noncash activity right-of-use assets obtained in exchange for lease obligations								397
Series B preferred dividend in accrued expense								$ 383

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations Description of Business 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. 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. 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. 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. 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 14.6 55 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 & 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 $ 34.0 10.3 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 Going Concern and Liquidity 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. 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. 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 $ 3.4 9.2 1.5 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. In addition to the Company’s cash on hand for available use of approximately $ 9.6

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	2. Basis of Presentation In the opinion of management, the Company’s condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary for a fair statement of the results for the periods presented in accordance with United States of America’s Generally Accepted Accounting Principles (“U.S. GAAP”). The results of operations for the interim periods presented are not necessarily indicative of results for the full year. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (“the Annual Report”). The information presented in the accompanying condensed consolidated balance sheet as of December 31, 2023 has been derived from the Company’s audited consolidated financial statements. All other information has been derived from the Company’s unaudited condensed consolidated financial statements for the three and six months ended June 30, 2024 and June 30, 2023. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries, including the Company’s variable interest entities disclosed in Note 15. All intercompany balances and transactions are eliminated in consolidation. Reverse Stock Split On October 11, 2023, the Company filed a Certificate of Change (the “Certificate of Change”) effecting a reverse stock split as of 5:00 p.m. Eastern Standard Time on October 13, 2023 with a ratio of 1-for-25 every 25 issued and outstanding shares of the Company common stock was converted automatically into one share of the Company’s common stock without any change in the par value per share The primary goal of the Reverse Stock Split was to increase the per share price of the Common Stock in order to meet the minimum per share price requirement of $ 1.00 In addition, effective as of the same time as the Reverse Split, proportionate adjustments were made to all then-outstanding equity awards, warrants and convertible securities with respect to the number of shares of common stock subject to such award or security and the exercise or conversion price thereof. Furthermore, the number of shares of common stock available for issuance under the Company’s equity incentive plans has been proportionately adjusted for the Reverse Split ratio, such that fewer shares will be subject to such plans. Furthermore, proportionate adjustments were made to the conversion factor at which the Company’s Series B Preferred Stock, par value $ 0.0001 187,500 The effects of the Reverse Stock Split have been reflected in these financial statements and the accompanying footnotes for all periods presented, which includes adjusting the description of any activity that may have been transacted on a pre-Reverse Stock Split basis. Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid short-term investments with original maturities of less than three months. Restricted Cash Restricted cash relates to cash that is legally restricted as to withdrawal and usage or is being held for a specific purpose and thus not available to the Company for immediate or general business use. As of June 30, 2024, the Company had restricted cash of approximately $ 3.0 2.0 1.0 4.0 3.0 1.0 Deposits and Credits on equipment As of June 30, 2024 and December 31, 2023, the Company had approximately $ 3.1 1.0 975 Warrant Liability Under the guidance in ASC 815, Derivatives and Hedging As discussed in Footnote 8, on June 20, 2024, Soluna AL Cloudco, LLC (the “Company”), a subsidiary of Soluna Cloud, Inc (“Cloud”), entered into a Promissory Note Agreement of $ 12.5 Reclassification 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. Correction of an Error While preparing the Company’s Form 10-K for the year ended December 31, 2023, the Company identified the following errors related to the presentation of basic and diluted Earnings Per Share (“EPS”) in its historical filing for the year ended December 31, 2022, and for the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023: ● Inclusion of the net income/loss from noncontrolling interest in the numerator; ● Inclusion of the cumulative undeclared preferred dividends in the numerator; ● Exclusion of shares issued for little or no cash consideration (ie: penny warrants) in the denominator. In accordance with SEC Staff Accounting Bulletin No. 99, “Materiality,” and SEC Staff Accounting Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements;” the Company evaluated the errors and has determined that the related impacts were not material to any prior annual or 10-Q report, but that correcting the cumulative impact of such errors would be significant to our EPS for the year ended December 31, 2023. Accordingly, the Company has corrected such immaterial errors by adjusting its December 31, 2022 consolidated statement of operations related to the calculation of earnings per share. The Company also corrected previously reported interim financial information for such immaterial errors in future filings, as applicable. The following summarizes the effect of the revision on each financial statement line item. The following analysis provides a comparison amongst the basic and diluted EPS as reported on the Form 10-Q for the quarters ended June 30, 2023, and September 30, 2023, and the final revised basic and diluted EPS calculation to correct all identified errors: Schedule of Error Corrections of Basic and Diluted EPS For the three months ended For the six months ended (1) As Reported As Revised Change (1) As Reported As Revised Change Basic and Diluted net loss per share $ (8.44 ) $ (9.54 ) $ (1.10 ) $ (17.14 ) $ (19.74 ) $ (2.60 ) (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. For the three months ended For the nine months ended As Reported As Revised Change As Reported As Revised Change Basic and Diluted net loss per share $ (4.40 ) $ (5.96 ) $ (1.56 ) $ (20.11 ) $ (24.16 ) $ (4.05 )

Accounts Receivable, net

Accounts Receivable, net	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Accounts Receivable, net	3. Accounts Receivable, net Accounts receivables consist of the following at: Schedule of Accounts Receivable (Dollars in thousands) June 30, December 31, Data hosting $ 1,892 $ 2,456 Related party receivable 8 8 Demand response service receivable 1,436 268 Proprietary mining Coinbase receivable 98 216 Other 244 - Accounts receivables, gross 244 - Allowance for expected credit losses (244 ) - Total $ 3,434 $ 2,948 Accounts receivables, net $ 3,434 $ 2,948 The Company’s allowance for expected credit loss was $ 244 0 244

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	4. Property, Plant and Equipment Property, plant and equipment consist of the following at: Schedule of Plant And Equipment (Dollars in thousands) June 30, December 31, Land and land improvements $ 1,553 $ 1,538 Buildings and leasehold improvements 25,361 25,369 Computers and related software 11,456 11,764 Machinery and equipment 9,104 9,054 Office furniture and fixtures 35 28 Construction in progress 817 1,111 Property, plant and equipment, gross 48,326 48,864 Less: Accumulated depreciation (6,854 ) (4,292 ) Property, plant and equipment, net $ 41,472 $ 44,572 Depreciation expense was approximately $ 1.5 547 3.1 1.2 The Company had a loss on sale of equipment of approximately $ 21 145 166 215 236 The Company has a gain on sale of equipment of approximately $ 48 31 82 213 295 36 3 48 561 513 476 no There were no 130 169 377 165 43 Equipment held for sale In April 2023, Project Sophie entered into a 25 MW hosting contract with a sustainability-focused Bitcoin miner, which shifted the Company’s business model at Project Sophie from proprietary mining to hosting Bitcoin miners for the customer. The Company sold all but approximately $ 107 82 133 28

Asset Acquisition

Asset Acquisition	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Asset Acquisition	5. Asset Acquisition As discussed above, on October 29, 2021, we completed the Soluna Callisto acquisition pursuant to an Agreement and Plan of Merger dated as of August 11, 2021, by and among the Company, SCI and Soluna Callisto (the “Merger Agreement”). The purpose of the transaction was for SCI to acquire substantially all of the assets (other than those assets physically located in Morocco) formerly held by HEL, which assets consisted of Soluna Callisto’s existing pipeline of certain cryptocurrency mining projects that HEL previously transferred to Soluna Callisto and to provide SCI with the opportunity to directly employ or retain the services of four individuals whose services it had retained through HEL prior to the merger. As a result of the merger, each share of common stock of Soluna Callisto issued and outstanding immediately prior to the effective time of the merger, other than shares owned by the Company or any of our subsidiaries, was canceled and converted into the right to receive a proportionate share of up to 118,800 The acquisition was accounted for, for purposes of U.S. GAAP, using the asset acquisition method of accounting under the ASC 805-50. We determined that we acquired in the acquisition a group of similar identifiable assets (primarily, the “strategic pipeline contract” of certain cryptocurrency mining projects), which it classified as an intangible asset for accounting purposes. As a result, our acquisition of the set of assets and activities constituted an asset acquisition, as opposed to a business acquisition, under ASC 805. ASC 805-50 provides that assets acquired in an asset acquisition are measured based on the costs of the acquisition, which is the consideration that the acquirer transfers to the seller and includes direct transaction costs related to the acquisition. We include Soluna Callisto’s results of operations in our results of operations beginning on the effective date of the acquisition. Merger Consideration The fair value of the Merger Consideration includes various assumptions, including those related to the allocation of the estimated value of the maximum number of Merger Shares ( 118,800 1a) Upon the Company achieving each one active MegaWatts (“Active MWs”) from the projects in which the cost requirement is satisfied, this will cause SHI to issue to HEL 792 shares for each one MW up to a maximum 150 Active MW. i. If, on or before June 30, 2022, SCI or Soluna Callisto directly or indirectly achieves at least 50 active MWs from one or more of three current projects as set forth in the Merger Agreement that satisfy the Cost Requirement as defined within the Merger Agreement, then the Merger Shares will be issued at an accelerated rate of 1,188 Merger Shares for each of such first 50 Active MW, such that the Merger Shares in respect of the remaining 100 Active MWs (if any) will be issued at a reduced rate of 594 Merger Shares per Active MW (see below for extension and issuance of a proportion of shares); ii. If, by June 30, 2023, SCI or Soluna Calisto fail to achieve directly or indirectly (other than pursuant to a Portfolio Acquisition) at least 50 Active MW from Projects that satisfy the Cost Requirement, then the maximum aggregate number of Merger Shares shall be reduced from 118,800 to 59,400 (see below for extension and issuance of a proportion of shares); iii. No Merger Shares will be issued to HEL without the Company’s prior written consent; iv. Issuance of the Merger Shares will also be subject to the continued employment with or engagement by SCI or the surviving corporation of (A) John Belizaire and (B) at least two of Dipul Patel, Mohammed Larbi Loudiyi, (through ML&K Contractor), and Phillip Ng at the time that such Merger Shares are earned. If both (A) and (B) cease to be satisfied on or prior to the date that all Merger Shares are earned (such date, a “Trigger Date”), then “Qualified Projects” for purposes of determining Merger Shares shall only apply to those Qualified Projects that are in the pipeline as of the Trigger Date. For these purposes, if any such individual’s employment or service relationship with SCI is terminated without cause, as a result of his death or disability, or with good reason (as such terms are defined in the employment and consulting agreements), such individual shall be deemed to continue to be employed or engaged by SCI for these purposes; v. If SHI or SCI consummates a Change of Control before the fifth anniversary of the date of the closing of the merger, then we will be obligated to issue all of the unissued Merger Shares (subject to (ii) and (iii) above). The Merger Agreement defines “Change of Control” as (A) the sale, exchange, transfer, or other disposition of all or substantially all of the assets of us or SCI, (B) our failure to continue to own (directly or indirectly) 100 50 vi. if on any of the fifth anniversary of the effective time of the merger, a facility has not become a Qualified Facility and therefore is not taken into consideration in the calculation of Active MW because any of the elements set forth in the definition of “Qualified Facility” as defined in the Merger Agreement have not been met for reasons beyond the reasonable control of SCI’s management team, but SCI’s management team is then actively engaged in the process of completing and is diligently pursuing the completion of the missing elements, then (A) the target dates set forth above shall be extended for an additional 90 days, and (B) additional extensions of time may be granted by the Board of Directors in its commercially reasonable discretion, in each case for the purpose of enabling SCI’s management team to complete the steps needed to qualify the facility as a Qualified Facility. On April 11, 2023, the Board reviewed and approved the progress of SCI’s management team in qualifying facilities as Qualified Facilities and discussed an extension of the date in Section 2.7(a)(ii)(A) of the Merger Agreement to December 31, 2023 (previously was June 30, 2022), and an extension of the date in Section 2.7(a)(ii)(B) of the Merger Agreement to June 30, 2024 (previously was June 30, 2023). As of June 30, 2024, the Company has met the active 50 MW criteria. Due to conditions being met within the Merger Agreement in relation to energization and retention of employees, the Company has advised SCI US Holdings LLC, a Delaware limited liability company, who is the sole Effective Time Holder (as defined in the Merger Agreement) of the right to receive the Merger Shares and that 19,800 39,600 59,400 59,400 The number of Merger Shares is also subject to customary anti-dilution adjustments in the event of any stock split, stock consolidation, stock dividend, or similar event involving the shares of our common stock. Based on the assessment performed, the fair value of the merger consideration as of October 29, 2021 was approximately $ 33.0

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	6. Intangible Assets Intangible assets consist of the following as of June 30, 2024: Schedule of Intangible Assets (Dollars in thousands) Intangible Assets Accumulated Total Strategic pipeline contract $ 46,885 $ 25,005 $ 21,880 Assembled workforce 500 267 233 Patents 229 14 215 Total $ 47,614 $ 25,286 $ 22,328 Intangible assets consist of the following as of December 31, 2023: (Dollars in thousands) Intangible Assets Accumulated Total Strategic pipeline contract $ 46,885 $ 20,317 $ 26,568 Assembled workforce 500 216 284 Patents 165 10 155 Total $ 47,550 $ 20,543 $ 27,007 Amortization expense for the three and six months ended June 30, 2024 and 2023 was approximately $ 2.4 4.7 The strategic pipeline contract relates to supply of a critical input to our digital mining and hosting business. The Company has analyzed this strategic pipeline contract similar to a permit for future benefit. The strategic pipeline contract relates to potential renewable energy data centers that fit in the alignment of the Company structure to expand operations of the Company’s new focus in their business. The Company expects to record amortization expense of intangible assets over the next five years and thereafter as follows: Schedule of Amortization Expense of Intangible Assets (Dollars in thousands) Year 2024 2024 (remainder of the year) $ 4,744 2025 9,488 2026 7,908 2027 11 2028 11 Thereafter 166 Total $ 22,328

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes During the three and six months ended June 30, 2024, the Company’s effective income tax rate was 7.1 7.6 4.5 6.1 21% 714 544 65 0 1.3 1.1 65 0 In connection with the strategic contract pipeline acquired in the acquisition as further discussed in Note 5, ASC 740-10-25-51 requires the recognition of a deferred tax impact of acquiring an asset in a transaction that is not a business combination when the amount paid exceeds the tax basis on the acquisition date. As such, the Company is required to adjust the value of the strategic contract pipeline by approximately $ 10.9 547 1.1 The Company provides for recognition of deferred tax assets if the realization of such assets is more likely than not to occur in accordance with accounting standards that address income taxes. Significant management judgment is required in determining the period in which the reversal of a valuation allowance should occur. The Company has considered all available evidence, both positive and negative, such as historical levels of income and future forecasts of taxable income amongst other items, in determining its valuation allowance. In addition, the Company’s assessment requires us to schedule future taxable income in accordance with accounting standards that address income taxes to assess the appropriateness of a valuation allowance which further requires the exercise of significant management judgment. The Company believes that the accounting estimate for the valuation of deferred tax assets is a critical accounting estimate because judgment is required in assessing the likely future tax consequences of events that have been recognized in our financial statements or tax returns. The Company based the estimate of deferred tax assets and liabilities on current tax laws and rates and, in certain cases, business plans and other expectations about future outcomes. In the event that actual results differ from these estimates, or the Company adjusts these estimates in future periods, the Company may need to adjust the recorded valuation allowance, which could materially impact our financial position and results of operations. The Company has a full valuation allowance for the deferred tax asset of $ 37.2 36.8

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	8. Debt Convertible Notes Payable Debt consists of the following Schedule of Debt (Dollars in thousands): Maturity Date Interest Rate June 30, December 31, Convertible Note January 24, 2025 * 18 % $ 7,851 $ 8,474 * Default interest was waived on March 10, 2023, and no further default interest applied on the Convertible Note for the remainder of the year. On October 25, 2021, pursuant to a Securities Purchase Agreement (the “October SPA”), the Company issued to certain accredited investors (the “Noteholders”) (i) secured convertible notes in an aggregate principal amount of $ 16.3 15 1,776,073 9.18 1,776,073 12.50 15 18 The October Secured Notes, subject to an original issue discount of 8 April 25, 2023 18 On July 19, 2022 and on September 13, 2022, the Company entered into an Addendum and Addendum Amendment in which adjusted the terms such as maturity date, conversion prices, and the issuance of new warrants to the Noteholders. Pursuant to the Addendum and Addendum Amendment, the Company evaluated whether the new addendums qualified as debt modification or debt extinguishment, and based on ASC 470, Debt, the Company determined the Addendum and Addendum Amendment to fall under Debt Extinguishment and the Company would be required to fair value the new debt, and in turn write off the existing debt on the books. Following the debt extinguishment on July 19, 2022 as noted further above, the Convertible Notes will be accounted for under the fair value method on a recurring basis upon issuance (e.g., upon execution of the Addendum) per guidance within ASC 480, and at each subsequent reporting period, with changes in fair value reported in earnings. Although the Notes are not being accounted for under 825-10, the substance of the debt is considered to be the same and is therefore considered outside the scope of ASC 470-60. As such, the Company performed a fair value analysis of the Convertible Notes. For the year-ended December 31, 2023 and quarter-ended June 30, 2024, the Company ran Monte Carlo simulations for the expected conversion dates of the Convertible Notes using risk free rates, annual volatility, daily trading volumes, likely conversion profiles, and other assumptions based on principal and accrued interest as of the period ends. The Company determined the fair value of the Convertible Notes uses certain Level 3 inputs. Changes in Level 3 Financial Liabilities Carried at Fair Value Schedule of Changes in Level 3 Financial Liabilities Carried at Fair Value (in thousands) Balance, January 1, 2023 $ 12,254 Conversions of debt (January 2023- March 31, 2023) (1,395 ) Total revaluation gains (January 2023- March 31, 2023) (473 ) Balance, March 31, 2023 10,386 Conversions of debt (April 1, 2023- June 30, 2023) (400 ) Total revaluation losses (April 1, 2023- June 30, 2023) 724 Balance June 30, 2023 10,710 Conversions of debt (July 1, 2023- December 31, 2023) (4,219 ) Total revaluation losses (July 1, 2023- December 31, 2023) 1,983 Balance December 31, 2023 8,474 Conversions of debt (January 1, 2024- March 31, 2024) (1,023 ) Total revaluation gains (January 1, 2024- March 31, 2024) (1,235 ) Balance March 31, 2024 6,216 Financial liabilities, Balance 6,216 Conversions of debt (April 1, 2024- June 30, 2024) (2,689 ) Conversions of debt (2,689 ) Extension fee 325 Total revaluation losses (April 1, 2024- June 30, 2024) 3,999 Total revaluation losses 3,999 Balance June 30, 2024 $ 7,851 Financial liabilities, Balance $ 7,851 For the three and six months ended June 30, 2024, the Company had approximately $ 2.7 3.7 4.0 2.8 4 325 7.9 5.3 400 1.8 724 251 The following table represents the significant and subjective fair value assumptions used for Convertible Notes during the six months ended June 30, 2024: Schedule of Fair Value Assumptions For Convertible Notes Six months ended June 30, 2024 Stock price $ 2.88 6.09 Conversion price $ 3.78 Volatility 90.0 115 % Risk-free interest rate 5.31 5.46 % The events of default stated in the Notice of Acceleration and Repossession defined below with NYDIG Financing constituted a cross-default under the terms of secured convertible notes issued to the Noteholders. In addition to such cross-default, the failure of the Company pursuant to the Addendum dated as of July 19, 2022, to escrow an aggregate amount of $ 950,000 18 617 617 On May 11, 2023, the Company entered into a Second Amendment Agreement (the “Second Amendment”) with the holders of its October Secured Notes to extend the maturity date of the October Secured Notes to July 25, 2024. In connection with the Second Amendment, the Company paid an extension fee of $ 250,000 14 240,000 12.50 80,000 20.00 Subject to the Equity Conditions (as defined below), upon each trigger set forth below, the Company is allowed, once per trigger, require the Note holders to convert up to 20% percent of the outstanding amount of the October Secured Notes as: (i) the Company’s Common Stock trades for 10 12.50 40,000 (ii) the Company’s Common Stock trades for 10 17.50 40,000 (iii) the Company’s Common Stock trades for 10 22.50 40,000 The Equity Condition is met if all of the following conditions have been satisfied: (i) the shares of Common Stock issuable upon the conversion are either registered under the Securities Act of 1933 or resellable under Rule 144 thereunder without any volume restrictions, (ii) the number of shares issuable to each Note holder are below 4.99 On November 20, 2023, the Company and the Noteholders entered into a Third Amendment Agreement to amend the Notes, the October SPA and related agreements (collectively, the “Transaction Documents”). The aim is to facilitate future financings by the Company that may include funds for prepayment of the Notes by permitting the Company to force conversion of up to $ 1.5 4.7 150,000 0.01 As provided in the original terms of the Notes, in the event the Company prepays the amounts owed under Notes, the Company must pay an additional 20 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%. In addition, under the new Transaction Documents, the Company has the right to force the conversion of up to $ 1.5 5.00 50,000 As consideration for the reduction in the prepayment penalty and the new forced conversion right, the Company agreed that an aggregate $ 4.7 3.78 150,000 0.01 31.33 On February 28, 2024 the Company and the Purchasers entered into a Fourth Amendment Agreement to amend the Notes, SPA and related agreements to facilitate future financings by the Company by amending the Transaction Documents as follows: The Company shall be permitted to undertake at-the-market transactions in the future provided: ● No Event of Default shall have occurred and be continuing under the Notes; and ● The market price of the shares of common stock shall be at least the At-the-Market (“ATM”) Floor Price. 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. In addition, the Company will be permitted to unilaterally extend the maturity date of the Notes for two 3-Month extensions if prior to the then in effect maturity date the Company gives notice to the Purchasers and increases the principal amount of the Notes on the date of each such extension by two percent ( 2 In consideration of the foregoing, the Company: ● Reduced the conversion price of the Notes to $ 3.78 ● The Purchasers received an aggregate of 850,000 0.01 ● An aggregate of 320,005 3.78 3.78 ● An aggregate of 478,951 6.00 6.00 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. In June 2024, pursuant to the Fourth Amendment Agreement, the Company exercised its right to extend the maturity date of the Senior Notes for an additional six months, or until January 24, 2025, in order to enable the Company to continue to pursue its significant project development opportunities for Soluna Cloud, Dorothy 2 and other projects. The extension of the notes caused an increase in the convertible note balance of approximately $ 325 The effect of the additional penny warrants, $ 3.78 6.00 5.8 1.5 6.0 1.6 Pursuant to additional agreements with holders of another 51,618 530,569 51,618 6.00 51,618 386 6 4 61.83 66 On March 5, 2024, one of the Noteholders exercised 50 6.00 68 0.01 80 4.20 80 5.70 4.00 428,951 583,373 0.01 686,322 4.20 686,322 5.70 The following table represents the significant fair value assumptions used for warrants issued or repriced during the six months ended June 30, 2024: Schedule of Fair Value Assumptions For Warrants Issued Six months ended Stock price $ 2.88 4.07 Exercise price $ 0.01 20.00 Expected term in years 2.68 8.77 Expected dividend yield 0.00 % Volatility 110.0 137.50 % Risk-free interest rate 4.28 4.44 % NYDIG Financing Schedule of Financing Debt (Dollars in thousands) Maturity Dates Interest Rate January 1, 2024 - January 1, 2023 - NYDIG Loans #1-11 April 25, 2023 thru January 25, 2027* 12% thru 15% $ 9,183 $ 10,546 Less: repossession of collateralized assets — (1,363 ) Total outstanding debt $ 9,183 $ 9,183 * Due to event of default- the entire NYDIG Financing became current, see note below. On December 30, 2021, Soluna MC Borrowing 2021-1 LLC (the “Borrower”), an indirect wholly owned subsidiary of the Company entered into a Master Equipment Finance Agreement (the “Master Agreement”) with NYDIG ABL LLC (“NYDIG”) as lender, servicer and collateral agent (the “NYDIG facility”). The Master Agreement outlined the framework for a financing up to approximately $ 14.4 On January 14, 2022, the Borrower effected an initial drawdown under the Master Agreement in the aggregate principal amount of approximately $ 4.6 14 9.8 100 In connection with the NYDIG Transactions, on January 13, 2022, the Company entered into a Consent and Waiver Agreement, dated as of January 13, 2022 (the “Consent”), with the Noteholders, in connection with the October SPA, pursuant to which the Noteholders agreed to waive any lien on, and security interest in, certain assets, provided various contingencies are fulfilled, and each Noteholder who acquired October Secured Notes having a principal amount of not less than $ 3,000,000 Promptly after the date of the Consent, the Company issued warrants to purchase up to 3,400 237.50 19.00 The Company, through the Borrower, was required to make average monthly principal and interest payments to NYDIG of approximately $ 730 4.6 14 9.8 On December 20, 2022, the Borrower received a Notice of Acceleration and Repossession (the “NYDIG Notice”) from NYDIG with respect to the Master Agreement, by and between Borrower and NYDIG. The obligations of Borrower under the Master Agreement and reflected in the NYDIG Notice are ring-fenced to Borrower and its direct parent company, Soluna MC LLC. The Company is not a party to any guaranty, collateral agreement or other support agreement with or for the benefit of NYDIG. The NYDIG Notice states that (a) Borrower failed to observe or perform certain covenants, conditions or agreements contained in the Master Agreement 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 Master Agreement, and (b) Borrower defaulted under the guaranty, collateral agreement, or other support agreement, which resulted in an event of default under the Master Agreement. In addition, the NYDIG Notice states that Borrower failed to pay certain payments of principal and interest under the Master Agreement when due, which failure also constituted an event of default under the Master Agreement. As a result of the foregoing events of default, and pursuant to the Master Agreement, NYDIG (x) declared the principal amount of all loans due and owing under the Master Agreement and all accompanying Loan Documents (as defined in the Master Agreement) 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 Master Agreement and the Loan Documents, and (z) demanded the return of all equipment subject to the Master Agreement and the Loan Documents. As such, the principal balance of $10.5 million became due immediately and the Borrower was to bear interest, at a rate per annum equal to 2.0% plus the rate per annum otherwise applicable to such obligations set forth in the Master Agreement. 274 3.4 560 3.4 251 10.3 9.2 1.0 936 361 723 1.5 Loan and Security Agreement Navitas Term Loan Schedule of Navitas Term Loan (Dollars in thousands) Maturity Date Interest Rate January 1, 2024- May 9, 2023- Term Loan and capitalized interest (excludes debt issuance cost) May 9, 2025 15 % $ 1,707 $ 2,254 Less: principal and capitalized interest payments (1,234 ) (547 ) Less: debt issuance costs (13 ) (25 ) Total outstanding debt $ 460 $ 1,682 On May 9, 2023, DVCC and Navitas West Texas Investments SPV, LLC entered into a 2-year Loan Agreement (“Term Loan”) for $ 2,050,000 15 greater of plus Any and all monthly debt service amounts so paid to Lender shall be applied first to accrued and unpaid interest that has not yet been added to the principal balance of the Term Loan, if any, and then to repayment of the then outstanding principal balance of the Term Loan. On the Term Loan Maturity Date ( May 9, 2025 460 1.7 1.2 547 37 100 Equipment Loan Agreement On May 16, 2024, SDI SL Borrowing – 1, LLC, an affiliate of Soluna Holdings, Inc. (the “Borrower”) entered into a loan agreement (the “Equipment Loan Agreement” or the “Loan”) with Soluna2 SLC Fund II Project Holdco LLC (the “Lender”, and collectively, the “Parties”). The Equipment Loan Agreement provides for the Company to borrow, from time to time, up to $ 1.0 15 plus minus plus On May 16, 2024, the Parties entered into the Security Agreement in connection with the Loan Agreement as described above. The Security Agreement grants a collateral security interest in the equipment purchased under the Equipment Loan Agreement to secure the obligations of the Borrower under said Agreement in the event full performance and payment of the Equipment Loan Agreement becomes due. On May 17, 2024, the Borrower drew down $ 720 734 118 39 79 As noted in Footnote 17, on the July 22, 2024, the Borrower satisfied and repaid the Borrowing Amount in full by issuing the Investor Class B Membership Interests in the Dorothy 2 project at three times the value of the Borrowing Amount (i.e., $ 2.16 June 2024 Secured Note Financing Schedule of Secured Note Financing (Dollars in thousands) Maturity Date Interest Rate June 20, 2024- Term Loan and capitalized interest (excludes debt issuance cost) June 20, 2027 9 % $ 12,531 Less: principal and capitalized interest payments - Less: debt discount (314 ) Less: debt issuance costs (557 ) Total outstanding note 11,660 (Less) Current note outstanding 2,632 Long-term note outstanding $ 9,028 On June 20, 2024, Soluna AL CloudCo, LLC (“CloudCo”), an indirect wholly-owned subsidiary of Soluna Holdings, Inc. (the “Company”), issued a $ 12.5 9 As additional credit support, Soluna Cloud, Inc., CloudCo’s parent company, provided a guaranty secured by its assets and a pledge of CloudCo’s membership interests. The Company, as Soluna Cloud’s sole stockholder, also provided a guaranty secured by its assets and a pledge of its shares in Soluna Cloud. These arrangements are documented in the “CloudCo Agreements,” “Cloud Agreements,” and “Holdings Agreements.” As an inducement for the Investor to purchase the Note, Soluna Cloud will issue a warrant (the “ Cloud Warrant”) exercisable within three years from June 20, 2024. This Warrant allows the Investor to purchase a number of shares of Soluna Cloud common stock equal to 12.5% of the issued and outstanding common stock as of the Cloud Warrant date divided by 0.875, plus 12.5% of each Qualified Issuance divided by 0.875. In addition, granting of appreciation rights, phantom rights, or other rights with equity features would result in adjustments to the aggregate number of warrants issued. A “Qualified Issuance” includes any issuance of common stock by Soluna Cloud from the day after the Cloud Warrant date until the earlier of raising an additional $ 112.5 On June 20, 2024, the Company recorded the Cloud Warrant as a liability valued at approximately $ 314 In connection with the June 2024 transactions, the purchasers (collectively, the “Purchasers”) of the secured convertible notes (“Senior Notes”) issued under the Securities Purchase Agreement dated October 25, 2021 (as amended, the “2021 Purchase Agreement”), along with Collateral Services LLC as collateral agent, consented to the June 2024 transactions. They also agreed to enter into an intercreditor agreement with the Investor regarding these transactions. For the three and six months ended June 30, 2024, the Company incurred approximately $ 31 October 2021 Secured Notes—Extension of Maturity Date Pursuant to Section 6.a. of the Fourth Amendment Agreement to the 2021 Purchase Agreement, dated as of February 28, 2024, the Company exercised its right to extend the maturity date of the Senior Notes for an additional six months, or until January 24, 2025, in order to enable the Company to continue to pursue its significant project development opportunities for Soluna Cloud, Dorothy 2 and other projects. Line of Credit On September 15, 2021, the Company entered into a $ 1.0 0.75 350 350

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders’ Equity	9. Stockholders’ Equity Preferred Stock The Company has two series of preferred stock outstanding: the Series A Preferred Stock, with a $ 25.00 0.0001 100.00 4,953,545 3,061,245 62,500 Series B Preferred Stock On July 19, 2022, the Company entered into a Securities Purchase Agreement (the “Series B SPA”) with an accredited investor (the “Series B Investor”) pursuant to which the Company sold to the Series B Investor 62,500 5,000,000 The shares of Series B Preferred Stock are initially convertible, subject to certain conditions, into 46,211 135.25 In addition, on July 19, 2022, the Company issued to the Series B Investor common stock purchase warrants (the “Series B Warrants”) to purchase up to an aggregate of 40,000 250.00 40,000 287.50 Common Stock The Company has one class of common stock, par value $ 0.001 Each share of the Company’s common stock is entitled to one vote on all matters submitted to stockholders. 5,232,104 2,505,620 Dividends Pursuant to the Certificate of Designations, Preferences and Rights of 9.0% Series A Cumulative Perpetual Preferred Stock of the Company, dividends, when, as and if declared by the Board (or a duly authorized committee of the Board), will be payable monthly in arrears on the final day of each month, beginning August 31, 2021. 8.6 2.6 4.3 12.9 The Company’s Series B Preferred Stock includes a 10 656 44,000 70,300 Each Pre-Funded Warrant has been funded to the amount of $ .19999 0.00001 4.99 4.99 Reservation of Shares The Company had reserved common shares for future issuance as follows as of June 30, 2024: Schedule of Reserved Shares of Common Stock for Future Issuance Stock options outstanding 3,325 Restricted stock units outstanding 5,692 Warrants outstanding 3,820,152 Common stock available for future equity awards or issuance of options 15,951 Number of common shares reserved 3,845,120 The Company also notes that as of June 30, 2024, there are 14,888 Loss per Share The Company computes basic loss per common share by dividing net loss by the weighted average number of common shares outstanding during the reporting period. Diluted loss per share reflects the potential dilution, if any, computed by dividing loss by the combination of dilutive common share equivalents, comprised of shares issuable under outstanding investment rights, warrants and the Company’s share-based compensation plans, and the weighted average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money stock options, which are calculated based on the average share price for each period using the treasury stock method. Under the treasury stock method, the exercise price of a stock option and the amount of compensation cost, if any, for future service that the Company has not yet recognized are assumed to be used to repurchase shares in the current period. 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 six months ended June 30: Schedule of Basic and Diluted Per Share Computations for Continuing Operations 2024 2023 2024 2023 (Dollars in thousands, except shares) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss $ (9,145 ) $ (9,257 ) $ (11,689 ) $ (16,689 ) (Less) Net income (loss) attributable to non-controlling interest (1,728 ) 482 (4,438 ) 852 Net loss attributable to Soluna Holdings, Inc. (10,873 ) (8,775 ) (16,127 ) (15,837 ) Less: Preferred dividends or deemed dividends (66 ) (252 ) (452 ) (383 ) Less: Cumulative Preferred Dividends in arrears (2,609 ) (1,722 ) (4,331 ) (3,444 ) Balance $ (13,548 ) $ (10,749 ) $ (20,910 ) $ (19,664 ) Denominator: Basic and Diluted EPS: Common shares outstanding, beginning of period, including penny warrants 2,958,851 1,015,255 2,592,454 940,047 Weighted average common shares issued during the period including penny warrants issued and outstanding as of quarter-end 1,594,845 109,436 1,091,104 55,021 Denominator for basic earnings per common shares — 4,563,696 1,126,091 3,683,558 996,228 Weighted average common shares (2.97 ) (9.54 ) (5.68 ) (19.74 ) The Company notes as continuing operations was in a Net loss for the three and six months ended June 30, 2024 and 2023, as such basic and diluted EPS is the same balance as continuing operations acts as the control amount in which would cause antidilution. Not included in the computation of earnings per share, assuming dilution, for the three and six months ended June 30, 2024, were options to purchase 3,325 5,692 3,820,152 Not included in the computation of earnings per share, assuming dilution, for the three and six months ended June 30, 2023, were options to purchase 1,309,789 297,680 23,835,852

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Commitments: Leases The Company determines whether an arrangement is a lease at inception. The Company and its subsidiaries have operating leases for certain manufacturing, laboratory, office facilities and certain equipment. The leases have remaining lease terms one year ten years Lease expense for these leases is recognized on a straight-line basis over the lease term. For the three and six months ended June 30, total lease costs are comprised of the following: Schedule of Lease Expense Recognized on Straight-line Basis Over Lease Term 2024 2023 2024 2023 (Dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost $ 61 $ 60 $ 122 $ 116 Short-term lease cost — — — — Total net lease cost $ 61 $ 60 $ 122 $ 116 Short-term leases are leases having a term of twelve months or less. The Company recognizes short-term leases on a straight-line basis and does not record a related lease asset or liability for such leases. Other information related to leases was as follows: Schedule of Other Information Related to Leases Six Months Ended June 30, 2024 Weighted Average Remaining Lease Term (in years): Operating leases 4.15 Weighted Average Discount Rate: Operating leases 7.03 % (Dollars in thousands) Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Supplemental Cash Flows Information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 123 $ 111 Non-Cash Activity Right-of-use assets obtained in exchange for lease obligations: Operating leases $ - $ 397 Maturities of noncancellable operating lease liabilities are as follows for the quarter ending June 30: Schedule of Maturity of Operating Lease Liabilities (Dollars in thousands) 2024 2024 (remainder of year) $ 124 2025 79 2026 29 2027 29 2028 29 Thereafter 116 Total lease payments 406 Less: imputed interest (78 ) Total lease obligations 328 Less: current obligations 159 Long-term lease obligations $ 169 As of June 30, 2024, there were no additional operating lease commitments that had not yet commenced. Contingencies: Spring Lane Capital Contingency 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 Legal We are subject to legal proceedings, claims and liabilities which arise in the ordinary course of business. When applicable, we accrue for losses associated with legal claims when such losses are probable and can be reasonably estimated. These accruals are adjusted as additional information becomes available or circumstances change. Legal fees are charged to expense as they are incurred. The Company has been named as a party in the December 19, 2019 United States Environmental Protection Agency (“EPA”) Demand Letter regarding the Malta Rocket Fuel Area Superfund Site (“Site”) located in Malta and Stillwater, New York in connection with an alleged release of hazardous materials into the environment. The EPA is seeking reimbursement of response costs from all named parties in the amount of approximately $ 358 NYDIG filed a complaint against a subsidiary of Company, Soluna MC Borrowing 2021-1, LLC (“Borrower”) and Soluna MC, LLC, as Guarantor (“Guarantor”), and together with Borrower, (“NYDIG Defendants”) in Marshall Circuit Court of the Commonwealth of Kentucky on December 29, 2022 regarding a series of loans made by NYDIG to Borrower pursuant to a master equipment finance agreement that were secured by certain assets of Borrower and guaranteed by Guarantor pursuant to a written guaranty agreement executed by Guarantor. The Court issued on February 15, 2023 an agreed order granting NYDIG’s motion for writ of possession which, among other things, ordered parties to provide NYDIG access to the collateral described therein and preserved the rights of NYDIG to pursue a deficiency judgment against the NYDIG Defendants. Also on February 15, 2023, the NYDIG Defendants filed their answer and affirmative defenses in this proceeding. The NYDIG Defendants believe that NYDIG has liquidated some of the collateral securing the loans and anticipate that NYDIG will complete the liquidation of collateral and continue to prosecute the complaint to obtain a judgment against the NYDIG Defendants. Additionally, NYDIG has stated its intention to pursue SCI, the parent company of Guarantor, under a piercing of the corporate veil claim relating to 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. On February 23, 2023, NYDIG proceeded to foreclose on all of the collateral securing the MEFA, and repossessed the collateralized assets that totaled approximately $ 3.4 560 3.4 251 10.3 9.2 1.0 936 9.2 1.5 In September 2023, Atlas Technology Group LLC (“Atlas”) filed a complaint against Soluna MC LLC, Soluna Computing, Inc., and Soluna Holdings, Inc. (collectively, the “Atlas Defendants”) in the Supreme Court of New York regarding a co-location services agreement. Atlas alleged that Soluna MC’s termination of the agreement was a breach, seeking a return of pre-paid fees of approximately $ 464 7.9 The Atlas Defendants filed a motion to dismiss, and on April 17, 2024, the Court dismissed three of the four counts. The remaining count was answered on May 6, 2024, with counterclaims against Atlas. The Court denied the dismissal of Soluna Computing, Inc. and Soluna Holdings, Inc. as parties, leading to an appeal filed on May 7, 2024. On June 25, 2024, Atlas and the Atlas Defendants entered into a settlement agreement. Soluna MC recorded a gain on the settlement of approximately $ 254

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions MeOH Power, Inc. On December 18, 2013, MeOH Power, Inc. and the Company executed a Senior Demand Promissory Note (the Note) in the amount of $ 380 0.07 374 363 Legal Services During the three and six months ended June 30, 2024 and 2023, the Company incurred $ 1 2 Employee Receivables Certain employees have a receivable due to the Company based on their stock-based awards, in which $ 109 110 13 13 96 97 HEL Transactions As discussed above, on October 29, 2021, the Company completed the Soluna Callisto acquisition pursuant to the Merger Agreement. The purpose of the transaction was for SCI to acquire substantially all of the assets (other than those assets physically located in Morocco) formerly held by HEL, which assets consisted of SCI’s existing pipeline of certain cryptocurrency mining projects that HEL previously transferred to SCI, which was formed expressly for this purpose, and to provide SCI with the opportunity to directly employ or retain the services of four individuals whose services it had retained through HEL prior to the merger. As a result of the merger, each share of common stock of Soluna Callisto issued and outstanding immediately prior to the effective time of the merger, other than shares owned by the Company or any of our subsidiaries, was cancelled and converted into the right to receive a proportionate share of the Merger Consideration. In connection with the Soluna Callisto acquisition, effective as of October 29, 2021, upon and subject to the terms and conditions of the Termination Agreement, on November 5, 2021: (1) the existing Operating and Management Agreements between HEL and SCI were terminated in all respects; and (2)(A) SCI paid HEL $ 725 Due to conditions being met within the Merger Agreement in relation to energization and retention of employees, the Company has advised SCI US Holdings LLC, a Delaware limited liability company, who is the sole Effective Time Holder (as defined in the Merger Agreement) of the right to receive the Merger Shares and that 19,800 39,600 59,400 59,400 Please see Note 5 for additional information regarding the Soluna Callisto acquisition and related transactions. Several of HEL’s equity holders are affiliated with Brookstone Partners, the investment firm that holds an equity interest in the Company through Brookstone Partners Acquisition XXIV, LLC. The Company’s two Brookstone-affiliated directors also serve as directors and, in one case, as an officer, of HEL and also have ownership interest in HEL. In light of these relationships, the various transactions by and between the Company and SCI, on the one hand, and HEL, on the other hand, were negotiated on behalf of the Company and SCI via an independent investment committee of the Board and separate legal representation. The transactions were subsequently unanimously approved by both the independent investment committee and the full Board. Four of the Company’s directors have various affiliations with HEL. Michael Toporek, the former Chief Executive Officer, and current Executive Director of the Company, owns (i) 90% of the equity of Soluna Technologies Investment I, LLC, which owns 57.9% of HEL and (ii) 100% of the equity of MJT Park Investors, Inc., which owns 3.1% of HEL, in each case, on a fully diluted basis. Mr. Toporek does not own directly, or indirectly, any equity interest in Tera Joule, LLC, which owns 9.2% of HEL; however, as a result of his 100% ownership of Brookstone IAC, Inc., which is the manager of Tera Joule, LLC, he has dispositive power over the equity interests that Tera Joule owns in HEL. In addition, one of the Company’s directors, Matthew E. Lipman, serves as a director and currently acting as President of HEL. Mr. Lipman does not directly own any equity interest in Tera Joule, LLC, which owns 9.2% of HEL; however, as a result of his position as a director and officer of Brookstone IAC, Inc., which is the manager of Tera Joule, LLC, he has dispositive power over the equity interests that Tera Joule owns in HEL. As a result, the approximate dollar value of the amount of Mr. Toporek’s and Mr. Lipman’s interest in the Company’s transactions with HEL for the six months ended June 30, 2024 was $ 0 0 John Belizaire, the Company’s Chief Executive Officer, and John Bottomley, who were elected to the Board upon the effective time of SCI’s acquisition of Soluna Callisto, serve as directors of HEL. In addition, Mr. Belizaire is the beneficial owner of 1,317,567 102,380 86,763 965,945 818,596 96,189 The Company’s investment in HEL was initially carried at the cost of investment and was $ 750 750 0 The Company owned approximately 1.79%

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock Based Compensation	12. Stock Based Compensation 2023 Plan The 2023 Plan was adopted by the Board on February 10, 2023 and approved by the stockholders on March 10, 2023. The 2023 Plan sets the number of shares of our Common Stock reserved for issuance thereunder, on a quarterly basis, to 9.75% 9.75% On June 29, 2023, at the Annual Shareholder Meeting, the Amended and Restated 2023 Stock Incentive Plan was approved. The Amended and Restated 2023 Plan will, among other things, increase the number of shares of our Common Stock reserved for issuance thereunder, on a quarterly basis, to 23.75% 23.75% 2021 Plan The Company’s 2021 Plan was adopted by the Board on February 12, 2021 and approved by the stockholders on March 25, 2021. The 2021 Plan was amended and restated effective as of October 29, 2021, and May 27, 2022, respectively. The 2021 Plan authorizes the Company to issue shares of common stock upon the exercise of stock options, the grant of restricted stock awards, and the conversion of restricted stock units (collectively, the “Awards”). The Compensation Committee has full authority, subject to the terms of the 2021 Plan, to interpret the 2021 Plan and establish rules and regulations for the proper administration of the 2021 Plan. Subject to certain adjustments as provided in the 2021 Plan, the maximum aggregate number of shares of the Company’s common stock that may be issued under the 2021 Plan (i) pursuant to the exercise of options, (ii) as shares or restricted stock and (iii) in settlement of RSUs shall be limited to (A) during the Company’s fiscal year ending December 31, 2021 (the “2021 Fiscal Year”), 1,460,191 On March 10, 2023, at the Special Shareholder Meeting, the Third Amended and Restated 2021 Stock Incentive Plan was approved. The 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. The Board approved amendments to both the 2021 and 2023 Plans on April 15, 2024. The amendments were subsequently approved by the stockholders at the 2024 Annual Meeting on May 30, 2024. Under the Plans, the number of shares of common stock available for awards is limited to, 18.75 23.75 18.75 23.75 Under the 2023 Plan and 2021 Plan, the Company may grant stock options, restricted stock awards (RSAs) and restricted stock units (RSUs) to executive, management, employees, directors, and certain nonemployee personnel. The awards issued under the Plans can vest immediately, over time or based upon the achievement of market, performance, or service conditions. RSAs and RSUs can vest immediately but generally vest ratably over three years and Performance RSUs generally fully vest after three years, subject to achieving market, service or performance conditions. In addition, the Company recognizes certain Awards held by certain employees and nonemployees that vest upon separation. Each share granted subject to an Award reduces the number of shares available under the 2023 Plan and 2021 Plan by one share. The fair value of stock options is estimated based on the Black-Scholes model, taking into account the historical volatility of our stock, consistent with the accounting guidance. The risk-free interest rate is based on the risk-free zero-coupon rate for a period consistent with the expected option term at the time of grant. The expected option term is calculated based on our historical forfeitures and cancellation rates. During April 2024, the Company cancelled certain vested Awards and modified the terms of certain unvested Awards, to permit different settlement outcomes. The service period and vesting terms were changed at the time of modification. All such vested Awards were fully vested as of the cancellation date and all compensation cost had been recognized. All such unvested equity awards were probable of vesting as of the modification date and the change was accounted for as a Type I modification. In a Type I modification, the Company is required to calculate the incremental difference of the awards, which equals the difference of new award value inclusive of estimated forfeitures and the fair value of the original award as of the modification date. As of the modification date, there is no reversal or adjustment of previously recognized stock compensation expense. Within the 2021 and 2023 Plans, certain master grant agreements were executed on April 15, 2024 that have the potential for future additional grants based on additional stock activity through certain anti-dilution provisions. A mutual understanding of the terms and conditions for the specific awards cannot be obtained until a later date after all stock activity has occurred in the future period and necessary approvals are obtained. When Board approval is obtained and the two grant conditions are met, the grant date will be identified and evidenced through an additional restricted stock agreement. The compensation cost will be recognized per the vesting schedule within the agreement with no catch-up for the reduced period. The accounting impact resulting from the recognition of this equity-based compensation limits the comparability of the Company’s financial statements between periods. During the three and six months ended June 30, 2024, the Company awarded 391,544 1.52 90,734 2.41 1,892,300 2.50 610,234 1.52 57,255 2.41 25,309 of the restricted stock awards vest immediately, 2,022,246 of the restricted stock awards vest at separation from the Company, 690,223 of the restricted stock awards vest 33% on June 1 ,2024, 33% on June 1, 2025 and 34% on June 1, 2026, and 304,289 of the restricted stock awards vest 33% on June 1, 2025, 33% on June 1 , 2026 and 34% on June 1, 2027 During the three months ended June 30, 2023, the Company did not issue any equity awards under its 2021 or 2023 Plans. During the six months ended June 30, 2023, the Company awarded 500,000 0.2986 The Company will recognize the compensation expense on a straight-line basis over the service period for the entire Awards. Accordingly, as of June 30, 2024, the Awards from the Plans are presented at fair value within the stockholders’ equity section of the Company’s balance sheet. As of June 30, 2024, unrecognized compensation cost related to unvested Awards was approximately $ 5.8 2.4 On April 15, 2024, a modification related to the cancellation of 48,547 4.0

Effect of Recent Accounting Upd

Effect of Recent Accounting Updates	6 Months Ended
	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Effect of Recent Accounting Updates	13. Effect of Recent Accounting Updates Accounting Updates Effective for fiscal year 2024 Changes to U.S. GAAP are established by the Financial Accounting Standards Board (the “FASB”) in the form of accounting standard updates (“ASUs”) to the FASB’s Accounting Standards Codification (“ASC”). The Company considered the applicability and impact of all ASUs. ASUs not mentioned below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations. Accounting Updates Not Yet Effective Improvements to Reportable Segment Disclosures In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvement to Reportable Segment Disclosures Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets In December 2023, the FASB issued ASU 2023-08, Intangibles - Goodwill and Other - Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures Stock Compensation In March 2024, the FASB issued ASU 2024-01, Compensation—Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards ASC 718, Compensation—Stock Compensation (ASC 710, Compensation—General, )

PROJECT MARIE

PROJECT MARIE	6 Months Ended
	Jun. 30, 2024
Project Marie
PROJECT MARIE	14. PROJECT MARIE As previously disclosed in Footnote 8, on December 20, 2022, Soluna MC Borrowing 2021-1 LLC (“Borrower”), an indirect wholly owned subsidiary of Soluna Holdings, Inc. (the “Company”), 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 assets which secure the MEFA represent substantially all of the Company’s mining assets at the site and certain of the operating assets of Project Marie, a 20 MW facility located in Kentucky. The obligations of Borrower under the MEFA and reflected in the NYDIG Notice are ring-fenced to Borrower and its direct parent company, Soluna MC LLC. The Company is not a party to any guaranty, collateral agreement or other support agreement with or for the benefit of NYDIG. For the year ended December 31, 2022, the principal balance of $ 10.5 2.0% 3.4 740 251 1.0 9.2 3.4 251 10.3 9.2 1.0 936 9.2 1.5 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 $ 3.4 With the notice of termination of the Management and Hosting Services from CCMA, the Company notes that this event triggered the impairment of the remaining fixed assets at the Marie facility for the year ended December 31, 2022. Based on the closure of operations on Project Marie, the Company performed an impairment analysis and determined that approximately $ 2.4 For the first quarter of 2023, the Company assessed whether the abandonment of the Project Marie facility qualified for the classification of discontinued operations under ASC 205-20-45-1B and 1C. A disposal of a component of an entity or a group of components of an entity shall be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when any of the following occurs: a. The component of an entity or group of components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. b. The component of an entity or group of components of an entity is disposed of by sale. c. The component of an entity or group of components of an entity is disposed of other than by sale in accordance with paragraph 360-10-45-15 (for example, by abandonment or in a distribution to owners in a spinoff). As such, the Company deemed that criteria c was applicable as the Project Marie facility was abandoned and ceased further operations beginning on February 23, 2023. However, to qualify for reporting as discontinued operations, it must represent a strategic shift. Per ASC 205-20-45-1C, examples of a strategic shift that has (or will have) a major effect on an entity’s operations and financial results could include a disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity. A strategic shift implies that the disposal must result from a change in the way management had intended to run the business. Management does not believe the closure of Project Marie represented a strategic shift as the Company still fully intends to manage operations through data hosting with customers and proprietary mining arrangements for future pipelines, as such the strategic shift criteria was not met and will not qualify as discontinued operations. However, per ASC 360-10-50-3A, in addition to the disclosures in paragraph 360-10-50-3, if a long-lived asset (disposal group) includes an individually significant component of an entity that either has been disposed of or is classified as held for sale and does not qualify for presentation and disclosure as discontinued operation, a public business entity shall disclose the pretax profit or loss of the individually significant component of an entity for the period in which it is disposed of or is classified as held for sale and for all prior period that are presented in the statement where net income is reported in accordance with ASC 205-20-45-6 through 45-9. Since the evaluation related to prior quarter, the Company has included comparative pretax loss for Project Marie for the three and six months ended June 30, 2024 and June 30, 2023. Set forth below are the results of Project Marie: Schedule of Results of Project Marie 2024 2023 2024 2023 (Dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cryptocurrency mining revenue $ - $ - $ $ 769 Operating service revenue-intercompany 2 - 5 - Data hosting revenue - - - 276 Total revenue 2 - 5 1,045 Operating costs: Cost of cryptocurrency mining revenue, exclusive of depreciation - - - 801 Cost of revenue- depreciation - 8 - 130 Data hosting (income) costs (10 ) - 205 Operational service costs-intercompany 1 - 2 - General and administrative expense - 34 (32 ) 319 Impairment on fixed assets - - - 43 Interest expense 361 315 723 692 Gain (loss) on sale of fixed assets - - - 11 Gain on settlement 254 - 254 - Other income, net 4 - 11 - Net loss before income taxes $ (102 ) $ (347 ) $ (423 ) $ (1,134 ) For the three and six months ended June 30, 2024, the intercompany service revenue and costs are eliminated within consolidation. Project Marie received a $ 32 210 254

VARIABLE INTEREST ENTITY

VARIABLE INTEREST ENTITY	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITY	15. VARIABLE INTEREST ENTITY On January 26, 2022, DVSL was created in order to construct, own, operate and maintain variable data centers in order to support the mining of cryptocurrency assets, batch processing and other non-crypto related activities (collectively, the “Project”). On May 3, 2022, SCI entered into a Bilateral Master Contribution Agreement (the “Bilateral Contribution Agreement”) with Spring Lane Capital, pursuant to which Spring Lane agreed, pursuant to the terms and conditions of such agreement, to make one or more capital contributions to, and in exchange for equity in, SCI or one of its subsidiaries up to an aggregate amount of $ 35 On August 5, 2022, the Company entered into a Contribution Agreement (the “Dorothy Contribution Agreement”) with Spring Lane, Soluna DV Devco, LLC (“Devco”), an indirect wholly-owned subsidiary of SCI, and DVSL an entity formed in order to further the Company’s development for Project Dorothy, (each, a “Party” and, together, the “Parties”). Pursuant to the Dorothy Contribution Agreement, the Company committed to a capital contribution of up to approximately $ 26.3 4.8 In exchange for their contributions, the Company and Spring Lane were issued 67.8% 32.2% 100% Soluna evaluated this legal entity under ASC 810, Consolidations On March 10, 2023, the Company along with Devco Project Company Purchase and Sale Agreement Spring Lane Dorothy Phase 1A Facility Under a series of transactions in February 2023 and March 2023, culminating in the March 10, 2023 Purchase and Sale Agreement, the Company sold to Spring Lane certain Class B Membership Interests for a purchase price of $ 7,500,000 Sale 6,790,537 14.6% 39,791,988 85.4% 5,770,065 7,500,000 14.6% 67.8% After Spring Lane Capital realizes an 16% Internal Rate of Return hurdle on its investments, the Company retains the right to 50% of the profits on Soluna DVSL ComputeCo. In connection with the Spring Lane transactions and agreements, Soluna DV Services, LLC. will be providing the operations and maintenance services to Soluna DVSL ComputeCo, LLC. Soluna DV Services, LLC expects to receive a margin of 20% for services rendered. Concurrently with the Sale, the Company, Spring Lane, Devco and the Project Company entered into (a) the Fourth Amended and Restated Limited Liability Company Agreement of the Project Company, dated as of March 10, 2023 (the “ Fourth A&R LLCA A&R Contribution Agreement As of January 1, 2023, there were no changes in the Limited Liability Agreement of the Company other than those related to incorporating the new investment and the purpose and design of the Company has not changed. The Company evaluated the power and benefits concepts under ASC 810 to determine whether the change in investment of Class B memberships would change the consolidation of the DVSL, and the Company concluded that, after the additional investment by Spring Lane, Soluna continues to have a controlling financial interest in DVSL. In addition, the Company continues to have the power and benefits associated with DVSL and therefore will continue to consolidate. The carrying amount of the VIE’s assets and liabilities was as follows: Schedule of Variable Interest Entities of Assets and Liabilities (Dollars in thousands) June 30, 2024 December 31, 2023 Current assets: Cash and restricted cash $ 3,090 $ 2,275 Accounts receivable 1,105 1,201 Other receivable, related party 283 185 Prepaids and other current assets 29 - Total current assets 4,507 3,661 Other assets- long term, related party 2,192 2,172 Operating lease right-of-use assets 87 90 Property, plant, and equipment 13,195 13,712 Total assets $ 19,981 $ 19,635 Current liabilities: Accounts payable, related party $ 95 $ - Accrued expense 1,011 677 Customer deposits-current 1,300 - Operating lease liability 7 7 Current portion of debt Total current liabilities 2,413 684 Operating lease liability 80 83 Customer deposits- long term - 1,190 Other liabilities, related party 224 224 Total liabilities $ 2,717 $ 2,181 Effective, January 1, 2023, the Company’s ownership in DVSL was reduced from 67.8% 14.6% On May 9, 2023, the Company’s indirect subsidiary DVCC completed a strategic partnership and financing with a special purpose vehicle, Navitas West Texas Investments SPV, LLC , 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. Soluna evaluated this legal entity under ASC 810, Consolidations DVCC is a variable interest entity of Soluna due to DVCC being structured with non-substantive voting rights. This is due to the following two factors being met as outlined in ASC 810-10-15-14 a. The voting rights of Soluna are not proportional to their obligation to absorb the expected losses of the legal entity. Soluna gave Navitas veto rights over significant decisions, which results in Soluna having fewer voting rights relative to their obligation to absorb the expected losses of the legal entity. b. Substantially all of DVCC’s activities are conducted on behalf of Soluna, which has disproportionally fewer voting rights. Also, Soluna is the primary beneficiary due to having the power to direct the activities of DVCC that most significantly impact the performance of DVCC due to its role as the manager handling the day-to-day activities of DVCC as well as majority ownership and the obligation to absorb losses or gains of DVCC that could be significant to Soluna. Accordingly, the accounts of DVCC are consolidated in the accompanying financial statements. The carrying amount of the VIE’s assets and liabilities was as follows for DVCC: Schedule of Variable Interest Entities of Assets and Liabilities (Dollars in thousands) June 30, 2024 December 31, 2023 Current assets: Cash and restricted cash $ 2,018 $ 2,575 Accounts receivable 98 217 Prepaids and other current assets 29 - Other receivable, related party 743 476 Total current assets 2,888 3,268 Other assets- long term, related party 2,192 2,172 Operating lease right-of-use assets 87 90 Property, plant, and equipment, net 19,786 22,188 Total assets $ 24,953 $ 27,718 Current liabilities: Accounts payable, related party $ 1,493 $ 1,259 Accrued expense 1,271 2,213 Operating lease liability 7 7 Current portion of debt 460 1,682 Total current liabilities 3,231 5,161 Operating lease liability 80 83 Total liabilities $ 3,311 $ 5,244

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	16. Segment Information The Company applies ASC 280, Segment Reporting two No The Cryptocurrency Mining segment generates revenue from the cryptocurrency the Company earns through its mining activities, which is currently generated from Project Dorothy, and previously from Project Sophie and Marie. The Data Center Hosting segment generated revenue from contracts for the provision/consumption of electricity and operation of the data center from the Company’s high performance computing facilities previously at Project Marie and currently from Project Sophie and Project Dorothy. For the three months ended June 30, 2024 and 2023, approximately 100% 0% 0% 100% 100% 0% 0% 79% 0% 21% For three months ended June 30, 2024 and 2023, approximately 73% 40% 27% 60% 70 32 30 48 0 19 0 1 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 six months ended June 30, 2024 and 2023, and reconciles to net income (loss) on the consolidated statements of operations: Schedule of Segment Reporting Information 2024 2023 2024 2023 (Dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Reportable segment revenue: Cryptocurrency mining revenue $ 4,484 $ 915 $ 10,880 $ 3,711 Data hosting revenue 4,898 1,153 10,176 1,439 Demand response service revenue 293 - 1,168 - Total segment and consolidated revenue 9,675 2,068 22,224 5,150 Reportable segment cost of revenue: Cost of cryptocurrency mining revenue, exclusive of depreciation 1,883 1,160 3,724 3,410 Cost of data hosting revenue, exclusive of depreciation 2,176 759 4,427 1,031 Cost of revenue-depreciation 1,506 539 3,029 1,164 Total cost of revenues 1,506 539 3,029 1,164 Total segment and consolidated cost of revenues 5,565 2,458 11,180 5,605 Reconciling items: General and administrative expenses 7,785 6,515 14,183 13,252 Impairment on fixed assets - 169 130 379 Interest expense 449 486 873 1,861 Loss on debt extinguishment and revaluation 5,600 2,054 8,698 1,581 Loss (gain) on sale of fixed assets 21 (48 ) 21 30 Other expense, net 49 238 25 224 Income tax (benefit) from continuing operations (649 ) (547 ) (1,197 ) (1,093 ) Net loss (9,145 ) (9,257 ) (11,689 ) (16,689 ) (Less) Net (income) loss attributable to non-controlling interest (1,728 ) 482 (4,438 ) 852 Net loss attributable to Soluna Holdings, Inc. $ ( 10,873 ) $ (8,775 ) $ ( 16,127 ) $ (15,837 ) Capital expenditures 44 2,035 278 2,895 Depreciation and amortization 3,909 2,918 7,834 5,920

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events Amendment to June 2024 Secured Note Financing On July 12, 2024, the Company, CloudCo, Soluna Cloud, and the Existing Investor entered into a First Amendment to the Note Purchase Agreement (the “June SPA Amendment”). This amendment allows CloudCo to issue additional secured promissory notes totaling $ 1,250,000 To further incentivize the Additional Investors, Soluna Cloud will issue warrants (the “Cloud Additional Warrants”) to each Additional Investor. These Cloud Additional Warrants are exercisable within three years from the effective date of the June SPA Amendment. They allow the purchase of a number of shares of Soluna Cloud common stock equal to 1.25% of Soluna Cloud’s issued and outstanding common stock as of the Cloud Additional Warrant date, divided by 0.9875, plus 1.25% of each Qualified Issuance, divided by 0.9875 A “Qualified Issuance” includes any issuance of common stock by Soluna Cloud from the day after the Cloud Additional Warrant date until the earlier of raising an additional $ 111.25 Dorothy 2 Project Financing On July 22, 2024 (the “Effective Date”), Soluna Holdings, Inc. (the “Company”) closed financing for the Dorothy 2 project. This project involves Soluna Digital, Inc. (the “Developer”) and Soluna DVSL II ComputeCo, LLC (the “ComputeCo”), a special purpose vehicle initially owned solely by the Developer. They are collaborating on the development, design, procurement, and construction of a 48 MW modular data center (the “Project Dorothy 2”) in Briscoe County, TX. This facility, located in Silverton, Texas, is owned by ComputeCo and operated by Soluna US Services, LLC, and may engage in cryptocurrency, batch processing, and other non-crypto related activities. It is adjacent to two other Soluna modular data center projects at the same site. Project Dorothy 2 is financed by Soluna2 SLC Fund II Project Holdco LLC (the “Investor”) with a capital contribution of up to $ 29.98 4.6 The Dorothy 2 project allows the Developer to invest in ComputeCo, with the total ownership of the Developer and its affiliates capped at 49 This investment can occur within 30 days after the Effective Date (treated equally to the initial Investor), from day 31 to 180 days after the Effective Date (subject to a purchase price formula with a 20% discount rate), or after 180 days with the initial Investor’s approval On May 16, 2024, the Company secured $ 1.0 720,000 720,000 2.16

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries, including the Company’s variable interest entities disclosed in Note 15. All intercompany balances and transactions are eliminated in consolidation.
Reverse Stock Split	Reverse Stock Split On October 11, 2023, the Company filed a Certificate of Change (the “Certificate of Change”) effecting a reverse stock split as of 5:00 p.m. Eastern Standard Time on October 13, 2023 with a ratio of 1-for-25 every 25 issued and outstanding shares of the Company common stock was converted automatically into one share of the Company’s common stock without any change in the par value per share The primary goal of the Reverse Stock Split was to increase the per share price of the Common Stock in order to meet the minimum per share price requirement of $ 1.00 In addition, effective as of the same time as the Reverse Split, proportionate adjustments were made to all then-outstanding equity awards, warrants and convertible securities with respect to the number of shares of common stock subject to such award or security and the exercise or conversion price thereof. Furthermore, the number of shares of common stock available for issuance under the Company’s equity incentive plans has been proportionately adjusted for the Reverse Split ratio, such that fewer shares will be subject to such plans. Furthermore, proportionate adjustments were made to the conversion factor at which the Company’s Series B Preferred Stock, par value $ 0.0001 187,500 The effects of the Reverse Stock Split have been reflected in these financial statements and the accompanying footnotes for all periods presented, which includes adjusting the description of any activity that may have been transacted on a pre-Reverse Stock Split basis.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid short-term investments with original maturities of less than three months.
Restricted Cash	Restricted Cash Restricted cash relates to cash that is legally restricted as to withdrawal and usage or is being held for a specific purpose and thus not available to the Company for immediate or general business use. As of June 30, 2024, the Company had restricted cash of approximately $ 3.0 2.0 1.0 4.0 3.0 1.0
Deposits and Credits on equipment	Deposits and Credits on equipment As of June 30, 2024 and December 31, 2023, the Company had approximately $ 3.1 1.0 975
Warrant Liability	Warrant Liability Under the guidance in ASC 815, Derivatives and Hedging As discussed in Footnote 8, on June 20, 2024, Soluna AL Cloudco, LLC (the “Company”), a subsidiary of Soluna Cloud, Inc (“Cloud”), entered into a Promissory Note Agreement of $ 12.5
Reclassification	Reclassification 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.
Correction of an Error	Correction of an Error While preparing the Company’s Form 10-K for the year ended December 31, 2023, the Company identified the following errors related to the presentation of basic and diluted Earnings Per Share (“EPS”) in its historical filing for the year ended December 31, 2022, and for the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023: ● Inclusion of the net income/loss from noncontrolling interest in the numerator; ● Inclusion of the cumulative undeclared preferred dividends in the numerator; ● Exclusion of shares issued for little or no cash consideration (ie: penny warrants) in the denominator. In accordance with SEC Staff Accounting Bulletin No. 99, “Materiality,” and SEC Staff Accounting Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements;” the Company evaluated the errors and has determined that the related impacts were not material to any prior annual or 10-Q report, but that correcting the cumulative impact of such errors would be significant to our EPS for the year ended December 31, 2023. Accordingly, the Company has corrected such immaterial errors by adjusting its December 31, 2022 consolidated statement of operations related to the calculation of earnings per share. The Company also corrected previously reported interim financial information for such immaterial errors in future filings, as applicable. The following summarizes the effect of the revision on each financial statement line item. The following analysis provides a comparison amongst the basic and diluted EPS as reported on the Form 10-Q for the quarters ended June 30, 2023, and September 30, 2023, and the final revised basic and diluted EPS calculation to correct all identified errors: Schedule of Error Corrections of Basic and Diluted EPS For the three months ended For the six months ended (1) As Reported As Revised Change (1) As Reported As Revised Change Basic and Diluted net loss per share $ (8.44 ) $ (9.54 ) $ (1.10 ) $ (17.14 ) $ (19.74 ) $ (2.60 ) (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. For the three months ended For the nine months ended As Reported As Revised Change As Reported As Revised Change Basic and Diluted net loss per share $ (4.40 ) $ (5.96 ) $ (1.56 ) $ (20.11 ) $ (24.16 ) $ (4.05 )

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Error Corrections of Basic and Diluted EPS	The following analysis provides a comparison amongst the basic and diluted EPS as reported on the Form 10-Q for the quarters ended June 30, 2023, and September 30, 2023, and the final revised basic and diluted EPS calculation to correct all identified errors: Schedule of Error Corrections of Basic and Diluted EPS For the three months ended For the six months ended (1) As Reported As Revised Change (1) As Reported As Revised Change Basic and Diluted net loss per share $ (8.44 ) $ (9.54 ) $ (1.10 ) $ (17.14 ) $ (19.74 ) $ (2.60 ) (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. For the three months ended For the nine months ended As Reported As Revised Change As Reported As Revised Change Basic and Diluted net loss per share $ (4.40 ) $ (5.96 ) $ (1.56 ) $ (20.11 ) $ (24.16 ) $ (4.05 )

Accounts Receivable, net (Table

Accounts Receivable, net (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivables consist of the following at: Schedule of Accounts Receivable (Dollars in thousands) June 30, December 31, Data hosting $ 1,892 $ 2,456 Related party receivable 8 8 Demand response service receivable 1,436 268 Proprietary mining Coinbase receivable 98 216 Other 244 - Accounts receivables, gross 244 - Allowance for expected credit losses (244 ) - Total $ 3,434 $ 2,948 Accounts receivables, net $ 3,434 $ 2,948

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Plant And Equipment	Property, plant and equipment consist of the following at: Schedule of Plant And Equipment (Dollars in thousands) June 30, December 31, Land and land improvements $ 1,553 $ 1,538 Buildings and leasehold improvements 25,361 25,369 Computers and related software 11,456 11,764 Machinery and equipment 9,104 9,054 Office furniture and fixtures 35 28 Construction in progress 817 1,111 Property, plant and equipment, gross 48,326 48,864 Less: Accumulated depreciation (6,854 ) (4,292 ) Property, plant and equipment, net $ 41,472 $ 44,572

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following as of June 30, 2024: Schedule of Intangible Assets (Dollars in thousands) Intangible Assets Accumulated Total Strategic pipeline contract $ 46,885 $ 25,005 $ 21,880 Assembled workforce 500 267 233 Patents 229 14 215 Total $ 47,614 $ 25,286 $ 22,328 Intangible assets consist of the following as of December 31, 2023: (Dollars in thousands) Intangible Assets Accumulated Total Strategic pipeline contract $ 46,885 $ 20,317 $ 26,568 Assembled workforce 500 216 284 Patents 165 10 155 Total $ 47,550 $ 20,543 $ 27,007
Schedule of Amortization Expense of Intangible Assets	The Company expects to record amortization expense of intangible assets over the next five years and thereafter as follows: Schedule of Amortization Expense of Intangible Assets (Dollars in thousands) Year 2024 2024 (remainder of the year) $ 4,744 2025 9,488 2026 7,908 2027 11 2028 11 Thereafter 166 Total $ 22,328

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt consists of the following Schedule of Debt (Dollars in thousands): Maturity Date Interest Rate June 30, December 31, Convertible Note January 24, 2025 * 18 % $ 7,851 $ 8,474 * Default interest was waived on March 10, 2023, and no further default interest applied on the Convertible Note for the remainder of the year.
Schedule of Changes in Level 3 Financial Liabilities Carried at Fair Value	Schedule of Changes in Level 3 Financial Liabilities Carried at Fair Value (in thousands) Balance, January 1, 2023 $ 12,254 Conversions of debt (January 2023- March 31, 2023) (1,395 ) Total revaluation gains (January 2023- March 31, 2023) (473 ) Balance, March 31, 2023 10,386 Conversions of debt (April 1, 2023- June 30, 2023) (400 ) Total revaluation losses (April 1, 2023- June 30, 2023) 724 Balance June 30, 2023 10,710 Conversions of debt (July 1, 2023- December 31, 2023) (4,219 ) Total revaluation losses (July 1, 2023- December 31, 2023) 1,983 Balance December 31, 2023 8,474 Conversions of debt (January 1, 2024- March 31, 2024) (1,023 ) Total revaluation gains (January 1, 2024- March 31, 2024) (1,235 ) Balance March 31, 2024 6,216 Financial liabilities, Balance 6,216 Conversions of debt (April 1, 2024- June 30, 2024) (2,689 ) Conversions of debt (2,689 ) Extension fee 325 Total revaluation losses (April 1, 2024- June 30, 2024) 3,999 Total revaluation losses 3,999 Balance June 30, 2024 $ 7,851 Financial liabilities, Balance $ 7,851
Schedule of Fair Value Assumptions For Convertible Notes	The following table represents the significant and subjective fair value assumptions used for Convertible Notes during the six months ended June 30, 2024: Schedule of Fair Value Assumptions For Convertible Notes Six months ended June 30, 2024 Stock price $ 2.88 6.09 Conversion price $ 3.78 Volatility 90.0 115 % Risk-free interest rate 5.31 5.46 %
Schedule of Fair Value Assumptions For Warrants Issued	The following table represents the significant fair value assumptions used for warrants issued or repriced during the six months ended June 30, 2024: Schedule of Fair Value Assumptions For Warrants Issued Six months ended Stock price $ 2.88 4.07 Exercise price $ 0.01 20.00 Expected term in years 2.68 8.77 Expected dividend yield 0.00 % Volatility 110.0 137.50 % Risk-free interest rate 4.28 4.44 %
Schedule of Financing Debt	NYDIG Financing Schedule of Financing Debt (Dollars in thousands) Maturity Dates Interest Rate January 1, 2024 - January 1, 2023 - NYDIG Loans #1-11 April 25, 2023 thru January 25, 2027* 12% thru 15% $ 9,183 $ 10,546 Less: repossession of collateralized assets — (1,363 ) Total outstanding debt $ 9,183 $ 9,183 * Due to event of default- the entire NYDIG Financing became current, see note below.
Schedule of Navitas Term Loan	Navitas Term Loan Schedule of Navitas Term Loan (Dollars in thousands) Maturity Date Interest Rate January 1, 2024- May 9, 2023- Term Loan and capitalized interest (excludes debt issuance cost) May 9, 2025 15 % $ 1,707 $ 2,254 Less: principal and capitalized interest payments (1,234 ) (547 ) Less: debt issuance costs (13 ) (25 ) Total outstanding debt $ 460 $ 1,682
Schedule of Secured Note Financing	June 2024 Secured Note Financing Schedule of Secured Note Financing (Dollars in thousands) Maturity Date Interest Rate June 20, 2024- Term Loan and capitalized interest (excludes debt issuance cost) June 20, 2027 9 % $ 12,531 Less: principal and capitalized interest payments - Less: debt discount (314 ) Less: debt issuance costs (557 ) Total outstanding note 11,660 (Less) Current note outstanding 2,632 Long-term note outstanding $ 9,028

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Reserved Shares of Common Stock for Future Issuance	The Company had reserved common shares for future issuance as follows as of June 30, 2024: Schedule of Reserved Shares of Common Stock for Future Issuance Stock options outstanding 3,325 Restricted stock units outstanding 5,692 Warrants outstanding 3,820,152 Common stock available for future equity awards or issuance of options 15,951 Number of common shares reserved 3,845,120
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 six months ended June 30: Schedule of Basic and Diluted Per Share Computations for Continuing Operations 2024 2023 2024 2023 (Dollars in thousands, except shares) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss $ (9,145 ) $ (9,257 ) $ (11,689 ) $ (16,689 ) (Less) Net income (loss) attributable to non-controlling interest (1,728 ) 482 (4,438 ) 852 Net loss attributable to Soluna Holdings, Inc. (10,873 ) (8,775 ) (16,127 ) (15,837 ) Less: Preferred dividends or deemed dividends (66 ) (252 ) (452 ) (383 ) Less: Cumulative Preferred Dividends in arrears (2,609 ) (1,722 ) (4,331 ) (3,444 ) Balance $ (13,548 ) $ (10,749 ) $ (20,910 ) $ (19,664 ) Denominator: Basic and Diluted EPS: Common shares outstanding, beginning of period, including penny warrants 2,958,851 1,015,255 2,592,454 940,047 Weighted average common shares issued during the period including penny warrants issued and outstanding as of quarter-end 1,594,845 109,436 1,091,104 55,021 Denominator for basic earnings per common shares — 4,563,696 1,126,091 3,683,558 996,228 Weighted average common shares (2.97 ) (9.54 ) (5.68 ) (19.74 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease Expense Recognized on Straight-line Basis Over Lease Term	Lease expense for these leases is recognized on a straight-line basis over the lease term. For the three and six months ended June 30, total lease costs are comprised of the following: Schedule of Lease Expense Recognized on Straight-line Basis Over Lease Term 2024 2023 2024 2023 (Dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost $ 61 $ 60 $ 122 $ 116 Short-term lease cost — — — — Total net lease cost $ 61 $ 60 $ 122 $ 116
Schedule of Other Information Related to Leases	Other information related to leases was as follows: Schedule of Other Information Related to Leases Six Months Ended June 30, 2024 Weighted Average Remaining Lease Term (in years): Operating leases 4.15 Weighted Average Discount Rate: Operating leases 7.03 % (Dollars in thousands) Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Supplemental Cash Flows Information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 123 $ 111 Non-Cash Activity Right-of-use assets obtained in exchange for lease obligations: Operating leases $ - $ 397
Schedule of Maturity of Operating Lease Liabilities	Maturities of noncancellable operating lease liabilities are as follows for the quarter ending June 30: Schedule of Maturity of Operating Lease Liabilities (Dollars in thousands) 2024 2024 (remainder of year) $ 124 2025 79 2026 29 2027 29 2028 29 Thereafter 116 Total lease payments 406 Less: imputed interest (78 ) Total lease obligations 328 Less: current obligations 159 Long-term lease obligations $ 169

PROJECT MARIE (Tables)

PROJECT MARIE (Tables)	6 Months Ended
	Jun. 30, 2024
Project Marie [Member]
Short-Term Debt [Line Items]
Schedule of Results of Project Marie	Set forth below are the results of Project Marie: Schedule of Results of Project Marie 2024 2023 2024 2023 (Dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cryptocurrency mining revenue $ - $ - $ $ 769 Operating service revenue-intercompany 2 - 5 - Data hosting revenue - - - 276 Total revenue 2 - 5 1,045 Operating costs: Cost of cryptocurrency mining revenue, exclusive of depreciation - - - 801 Cost of revenue- depreciation - 8 - 130 Data hosting (income) costs (10 ) - 205 Operational service costs-intercompany 1 - 2 - General and administrative expense - 34 (32 ) 319 Impairment on fixed assets - - - 43 Interest expense 361 315 723 692 Gain (loss) on sale of fixed assets - - - 11 Gain on settlement 254 - 254 - Other income, net 4 - 11 - Net loss before income taxes $ (102 ) $ (347 ) $ (423 ) $ (1,134 )

VARIABLE INTEREST ENTITY (Table

VARIABLE INTEREST ENTITY (Tables)	6 Months Ended
	Jun. 30, 2024
DVSL ComputeCo, LLC [Member]
Schedule of Variable Interest Entities of Assets and Liabilities	The carrying amount of the VIE’s assets and liabilities was as follows: Schedule of Variable Interest Entities of Assets and Liabilities (Dollars in thousands) June 30, 2024 December 31, 2023 Current assets: Cash and restricted cash $ 3,090 $ 2,275 Accounts receivable 1,105 1,201 Other receivable, related party 283 185 Prepaids and other current assets 29 - Total current assets 4,507 3,661 Other assets- long term, related party 2,192 2,172 Operating lease right-of-use assets 87 90 Property, plant, and equipment 13,195 13,712 Total assets $ 19,981 $ 19,635 Current liabilities: Accounts payable, related party $ 95 $ - Accrued expense 1,011 677 Customer deposits-current 1,300 - Operating lease liability 7 7 Current portion of debt Total current liabilities 2,413 684 Operating lease liability 80 83 Customer deposits- long term - 1,190 Other liabilities, related party 224 224 Total liabilities $ 2,717 $ 2,181
DV ComputeCo, LLC [Member]
Schedule of Variable Interest Entities of Assets and Liabilities	The carrying amount of the VIE’s assets and liabilities was as follows for DVCC: Schedule of Variable Interest Entities of Assets and Liabilities (Dollars in thousands) June 30, 2024 December 31, 2023 Current assets: Cash and restricted cash $ 2,018 $ 2,575 Accounts receivable 98 217 Prepaids and other current assets 29 - Other receivable, related party 743 476 Total current assets 2,888 3,268 Other assets- long term, related party 2,192 2,172 Operating lease right-of-use assets 87 90 Property, plant, and equipment, net 19,786 22,188 Total assets $ 24,953 $ 27,718 Current liabilities: Accounts payable, related party $ 1,493 $ 1,259 Accrued expense 1,271 2,213 Operating lease liability 7 7 Current portion of debt 460 1,682 Total current liabilities 3,231 5,161 Operating lease liability 80 83 Total liabilities $ 3,311 $ 5,244

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table details revenue and cost of revenues for the Company’s reportable segments for three and six months ended June 30, 2024 and 2023, and reconciles to net income (loss) on the consolidated statements of operations: Schedule of Segment Reporting Information 2024 2023 2024 2023 (Dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Reportable segment revenue: Cryptocurrency mining revenue $ 4,484 $ 915 $ 10,880 $ 3,711 Data hosting revenue 4,898 1,153 10,176 1,439 Demand response service revenue 293 - 1,168 - Total segment and consolidated revenue 9,675 2,068 22,224 5,150 Reportable segment cost of revenue: Cost of cryptocurrency mining revenue, exclusive of depreciation 1,883 1,160 3,724 3,410 Cost of data hosting revenue, exclusive of depreciation 2,176 759 4,427 1,031 Cost of revenue-depreciation 1,506 539 3,029 1,164 Total cost of revenues 1,506 539 3,029 1,164 Total segment and consolidated cost of revenues 5,565 2,458 11,180 5,605 Reconciling items: General and administrative expenses 7,785 6,515 14,183 13,252 Impairment on fixed assets - 169 130 379 Interest expense 449 486 873 1,861 Loss on debt extinguishment and revaluation 5,600 2,054 8,698 1,581 Loss (gain) on sale of fixed assets 21 (48 ) 21 30 Other expense, net 49 238 25 224 Income tax (benefit) from continuing operations (649 ) (547 ) (1,197 ) (1,093 ) Net loss (9,145 ) (9,257 ) (11,689 ) (16,689 ) (Less) Net (income) loss attributable to non-controlling interest (1,728 ) 482 (4,438 ) 852 Net loss attributable to Soluna Holdings, Inc. $ ( 10,873 ) $ (8,775 ) $ ( 16,127 ) $ (15,837 ) Capital expenditures 44 2,035 278 2,895 Depreciation and amortization 3,909 2,918 7,834 5,920

Nature of Operations (Details N

Nature of Operations (Details Narrative) - USD ($) $ in Thousands	Jun. 18, 2024	Jun. 30, 2024	Jun. 24, 2024	Dec. 31, 2023	Sep. 05, 2023	Feb. 23, 2023
Security agreement with support and professional services	$ 34,000
Initial pre-payment			$ 10,300
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
Cash on hand		$ 9,558		$ 6,368
NYDIG ABL LLC [Member]
Value of collateralized assets repossessed					$ 3,400	$ 3,400
Outstanding principal balance		9,200
Accrued interest and penalities		$ 1,500
DVSL ComputeCo, LLC [Member]
Ownership percentage		14.60%
DV ComputeCo, LLC [Member]
Ownership percentage		55%

Schedule of Error Corrections o

Schedule of Error Corrections of Basic and Diluted EPS (Details) - $ / shares	3 Months Ended					6 Months Ended				9 Months Ended
	Jun. 30, 2024		Sep. 30, 2023	Jun. 30, 2023		Jun. 30, 2024		Jun. 30, 2023		Sep. 30, 2023
Basic net loss per share	$ (2.97)		$ (5.96)	$ (9.54)		$ (5.68)		$ (19.74)		$ (24.16)
Diluted net loss per share	$ (2.97)	[1]	(5.96)	(9.54)	[1]	$ (5.68)	[1]	(19.74)	[1]	(24.16)
Previously Reported [Member]
Basic net loss per share			(4.40)	(8.44)	[2]			(17.14)	[2]	(20.11)
Diluted net loss per share			(4.40)	(8.44)	[2]			(17.14)	[2]	(20.11)
Revision of Prior Period, Adjustment [Member]
Basic net loss per share			(1.56)	(1.10)				(2.60)		(4.05)
Diluted net loss per share			$ (1.56)	$ (1.10)				$ (2.60)		$ (4.05)
[1]Prior period results have been adjusted to reflect the Reverse Stock Split of the Common Stock at a ratio of 1-for-25

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Oct. 13, 2023	Oct. 11, 2023	Jun. 30, 2024	Jun. 20, 2024	Dec. 31, 2023
Reverse stock split ratio	1-for-25
Reverse stock split description		every 25 issued and outstanding shares of the Company common stock was converted automatically into one share of the Company’s common stock without any change in the par value per share
Shares price, minimum		$ 1
Restricted cash			$ 3,000		$ 4,000
Restricted cash current			1,951		2,999
Restricted cash noncurrent			1,000		1,000
Deposits on equipment			3,100		$ 1,000
Deposits			$ 975
Promissory Note Agreement with accredited investor				$ 12,500
Series B Preferred Stock [Member]
Preferred stock, par value			$ 0.0001		$ 0.0001
Preferred stock, shares authorized			187,500		187,500

Schedule of Accounts Receivable

Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for expected credit losses	$ (244)
Accounts receivables, net	3,434	2,948
Data Hosting Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivables, gross	1,892	2,456
Related Party Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivables, gross	8	8
Demand Response Service Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivables, gross	1,436	268
Proprietary Mining Coinbase Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivables, gross	98	216
Other Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivables, gross	$ 244

Accounts Receivable, net (Detai

Accounts Receivable, net (Details Narrative) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Receivables [Abstract]
Allowance for doubtful accounts	$ 244	$ 244		$ 0
Provision on credit loss	$ 244	$ 244

Schedule of Plant And Equipment

Schedule of Plant And Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 48,326	$ 48,864
Less: Accumulated depreciation	(6,854)	(4,292)
Property, plant and equipment, net	41,472	44,572
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,553	1,538
Buildings and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	25,361	25,369
Computers and Related Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,456	11,764
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	9,104	9,054
Office Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	35	28
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 817	$ 1,111

Property, Plant and Equipment_2

Property, Plant and Equipment (Details Narrative) - USD ($) $ in Thousands	1 Months Ended				3 Months Ended		6 Months Ended
	Jun. 30, 2023	May 31, 2023	Mar. 31, 2023	Jan. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation					$ 1,500	$ 547	$ 3,091	$ 1,179
Loss on sale of equipment				$ 82	21	48	21	31
Proceeds from sale			$ 36	$ 213	145		215	561
Impairment charges						169	130	377
Equipment held for sale					28		28			$ 107
Equipment held for sale					82		82
Outstanding on equipment held for sale					28		28
Third Party [Member]
Property, Plant and Equipment [Line Items]
Equipment held for sale									$ 133
Equipment [Member]
Property, Plant and Equipment [Line Items]
Net book value of equipment					166		166
Equipment One [Member]
Property, Plant and Equipment [Line Items]
Net book value of equipment					$ 236		$ 236
M20 and M21 Miners [Member]
Property, Plant and Equipment [Line Items]
Net book value of equipment	$ 513					$ 513		513			$ 295
Scrap and Other Equipment [Member]
Property, Plant and Equipment [Line Items]
Loss on sale of equipment			$ 3
M30 Miners [Member]
Property, Plant and Equipment [Line Items]
Proceeds from sale	$ 48	$ 48
Switchgear and M31 [Member]
Property, Plant and Equipment [Line Items]
Loss on sale of equipment								0
Proceeds from sale								476
Power Supply Units [Member]
Property, Plant and Equipment [Line Items]
Impairment charges								165
M31 Miners [Member]
Property, Plant and Equipment [Line Items]
Impairment charges								$ 43

Asset Acquisition (Details Narr

Asset Acquisition (Details Narrative) - USD ($) $ in Millions	Oct. 10, 2023	May 26, 2023	Oct. 29, 2021	Aug. 11, 2021	Jun. 30, 2024
Business Acquisition [Line Items]
Merger shares issued					15,951
Merger Agreement [Member]
Business Acquisition [Line Items]
New shares issued	39,600	19,800
Merger shares issued		59,400
Soluna [Member]
Business Acquisition [Line Items]
Ownership percentage					100%
Soluna Callisto [Member]
Business Acquisition [Line Items]
Merger shares issuable description				each share of common stock of Soluna Callisto issued and outstanding immediately prior to the effective time of the merger, other than shares owned by the Company or any of our subsidiaries, was canceled and converted into the right to receive a proportionate share of up to 118,800 shares (the “Merger Shares”) of the Company’s common stock payable upon the achievement of certain milestones within five years after the effective date in the merger, as set forth in the merger agreement and the schedules thereto (the “Merger Consideration”). See Note 11 for further information regarding our relationship with HEL.
Fair value of merger consideration			$ 33
Soluna Callisto [Member] | Condition One [Member]
Business Acquisition [Line Items]
Business acquisition description of acquired entity				Upon the Company achieving each one active MegaWatts (“Active MWs”) from the projects in which the cost requirement is satisfied, this will cause SHI to issue to HEL 792 shares for each one MW up to a maximum 150 Active MW.
Soluna Callisto [Member] | Condition Two [Member]
Business Acquisition [Line Items]
Business acquisition description of acquired entity				If, on or before June 30, 2022, SCI or Soluna Callisto directly or indirectly achieves at least 50 active MWs from one or more of three current projects as set forth in the Merger Agreement that satisfy the Cost Requirement as defined within the Merger Agreement, then the Merger Shares will be issued at an accelerated rate of 1,188 Merger Shares for each of such first 50 Active MW, such that the Merger Shares in respect of the remaining 100 Active MWs (if any) will be issued at a reduced rate of 594 Merger Shares per Active MW (see below for extension and issuance of a proportion of shares);
Soluna Callisto [Member] | Condition Three [Member]
Business Acquisition [Line Items]
Business acquisition description of acquired entity				If, by June 30, 2023, SCI or Soluna Calisto fail to achieve directly or indirectly (other than pursuant to a Portfolio Acquisition) at least 50 Active MW from Projects that satisfy the Cost Requirement, then the maximum aggregate number of Merger Shares shall be reduced from 118,800 to 59,400 (see below for extension and issuance of a proportion of shares);
Soluna Callisto [Member] | Maximum [Member]
Business Acquisition [Line Items]
Shares issuable				118,800
Surviving Corportions [Member]
Business Acquisition [Line Items]
Percentage of voting interest					50%

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	$ 47,614	$ 47,550
Accumulated Amortization	25,286	20,543
Total	22,328	27,007
Strategic Pipeline Contract [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	46,885	46,885
Accumulated Amortization	25,005	20,317
Total	21,880	26,568
Assembled Workforce [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	500	500
Accumulated Amortization	267	216
Total	233	284
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	229	165
Accumulated Amortization	14	10
Total	$ 215	$ 155

Schedule of Amortization Expens

Schedule of Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remainder of the year)	$ 4,744
2025	9,488
2026	7,908
2027	11
2028	11
Thereafter	166
Total	$ 22,328	$ 27,007

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 2.4	$ 2.4	$ 4.7

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Oct. 29, 2021
Finite-Lived Intangible Assets [Line Items]
Effective income tax rate	7.10%	4.50%	7.60%	6.10%
Effective federal income tax rate		21%
Deferred income tax benefit	$ 714	$ 544	$ 1,259	$ 1,094
Current tax expense	65	0	65	0
Amortization amount	2,400		2,400	4,700
Deferred tax valuation allowance	37,200		37,200		$ 36,800
Strategic Pipeline Contract [Member]
Finite-Lived Intangible Assets [Line Items]
Deferred tax liability						$ 10,900
Amortization amount	$ 547	$ 547	$ 1,100	$ 1,100

Schedule of Debt (Details)

Schedule of Debt (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2024	Jun. 20, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Interest Rate		14%	9%
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Convertible Note		$ 7,851		$ 8,474
Maturity Date		Jan. 24, 2025
Interest Rate	[1]	18%
[1]Default interest was waived on March 10, 2023, and no further default interest applied on the Convertible Note for the remainder of the year.

Schedule of Changes in Level 3

Schedule of Changes in Level 3 Financial Liabilities Carried at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Platform Operator, Crypto Asset [Line Items]
Total revaluation losses	$ 4,000		$ 724		$ 2,800		$ 251
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto Asset [Line Items]
Financial liabilities, Balance	6,216	$ 8,474	10,386	$ 12,254	8,474	$ 10,710	12,254
Conversions of debt	(2,689)	(1,023)	(400)	(1,395)		(4,219)
Total revaluation losses	3,999	(1,235)	724	(473)		1,983
Extension fee	325
Financial liabilities, Balance	$ 7,851	$ 6,216	$ 10,710	$ 10,386	$ 7,851	$ 8,474	$ 10,710

Schedule of Fair Value Assumpti

Schedule of Fair Value Assumptions For Convertible Notes (Details)	Jun. 30, 2024 $ / shares	Feb. 28, 2024 $ / shares
Debt Instrument [Line Items]
Conversion price		$ 3.78
Convertible Debt [Member] | Measurement Input, Conversion Price [Member]
Debt Instrument [Line Items]
Conversion price	$ 3.78
Minimum [Member] | Convertible Debt [Member] | Measurement Input, Share Price [Member]
Debt Instrument [Line Items]
Risk-free interest rate	2.88
Minimum [Member] | Convertible Debt [Member] | Measurement Input, Price Volatility [Member]
Debt Instrument [Line Items]
Risk-free interest rate	0.900
Minimum [Member] | Convertible Debt [Member] | Measurement Input, Risk Free Interest Rate [Member]
Debt Instrument [Line Items]
Risk-free interest rate	0.0531
Maximum [Member] | Convertible Debt [Member] | Measurement Input, Share Price [Member]
Debt Instrument [Line Items]
Risk-free interest rate	6.09
Maximum [Member] | Convertible Debt [Member] | Measurement Input, Price Volatility [Member]
Debt Instrument [Line Items]
Risk-free interest rate	1.15
Maximum [Member] | Convertible Debt [Member] | Measurement Input, Risk Free Interest Rate [Member]
Debt Instrument [Line Items]
Risk-free interest rate	0.0546

Schedule of Fair Value Assump_2

Schedule of Fair Value Assumptions For Warrants Issued (Details) - $ / shares	6 Months Ended
	Jun. 30, 2024	Oct. 11, 2023
Debt Instrument [Line Items]
Stock price		$ 1
Warrant [Member]
Debt Instrument [Line Items]
Expected dividend yield	0%
Volatility rate minimum	110%
Volatility rate maximum	137.50%
Risk-free interest rate minimum	4.28%
Risk-free interest rate maximum	4.44%
Minimum [Member] | Warrant [Member]
Debt Instrument [Line Items]
Stock price	$ 2.88
Exercise price	$ 0.01
Expected term in years	2 years 8 months 4 days
Maximum [Member] | Warrant [Member]
Debt Instrument [Line Items]
Stock price	$ 4.07
Exercise price	$ 20
Expected term in years	8 years 9 months 7 days

Schedule of Financing Debt (Det

Schedule of Financing Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Total outstanding debt	$ 5,300
NYDIG [Member]
Defined Benefit Plan Disclosure [Line Items]
NYDIG Loans #1-11	9,183	$ 10,546
Less: repossession of collateralized assets		(1,363)
Total outstanding debt	$ 9,183	$ 9,183

Schedule of Financing Debt (D_2

Schedule of Financing Debt (Details) (Parenthetical)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt instrument, maturity date, description	April 25, 2023 thru January 25, 2027*	[1]
Interest rate	12% thru 15%
[1]Due to event of default- the entire NYDIG Financing became current, see note below.

Schedule of Navitas Term Loan (

Schedule of Navitas Term Loan (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	May 09, 2023
Short-Term Debt [Line Items]
Less: principal and capitalized interest payments	$ (9,200,000)
Navitas Term Loan [Member]
Short-Term Debt [Line Items]
Less: principal and capitalized interest payments	(1,200,000)	$ (547,000)
Loan and Security Agreement [Member]
Short-Term Debt [Line Items]
Term Loan and capitalized interest (excludes debt issuance cost)	12,531,000
Less: principal and capitalized interest payments
Less: debt issuance costs	(557,000)
Loan and Security Agreement [Member] | Navitas Term Loan [Member]
Short-Term Debt [Line Items]
Term Loan and capitalized interest (excludes debt issuance cost)	1,707,000	2,254,000	$ 2,050,000
Less: principal and capitalized interest payments	(1,234,000)	(547,000)
Less: debt issuance costs	(13,000)	(25,000)
Total outstanding debt	$ 460,000	$ 1,682,000

Schedule of Navitas Term Loan_2

Schedule of Navitas Term Loan (Details) (Parenthetical)	6 Months Ended
	Jun. 30, 2024	Jun. 20, 2024	May 09, 2023
Short-Term Debt [Line Items]
Interest rate	14%	9%
Loan and Security Agreement [Member] | Navitas Term Loan [Member]
Short-Term Debt [Line Items]
Maturity date	May 09, 2025
Interest rate	15%		15%
Secured Note Financing [Member] | Navitas Term Loan [Member]
Short-Term Debt [Line Items]
Maturity date	Jun. 20, 2027
Interest rate	9%

Schedule of Secured Note Financ

Schedule of Secured Note Financing (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 20, 2024	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Less: principal and capitalized interest payments	$ (9,200)
Total outstanding note		$ 12,500
Long-term note outstanding	9,028
Loan and Security Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Term Loan and capitalized interest (excludes debt issuance cost)	12,531
Less: principal and capitalized interest payments
Less:  debt discount	(314)
Less: debt issuance costs	(557)
Total outstanding note	11,660
(Less) Current note outstanding	2,632
Long-term note outstanding	$ 9,028

Debt (Details Narrative)

Debt (Details Narrative) $ / shares in Units, Integer in Thousands																					1 Months Ended	3 Months Ended										6 Months Ended		12 Months Ended
		Jun. 20, 2024 USD ($)	May 30, 2024 USD ($)	Mar. 05, 2024 $ / shares shares	Feb. 28, 2024 USD ($) $ / shares shares	Feb. 13, 2024 USD ($)	Feb. 01, 2024 $ / shares	Dec. 07, 2023 USD ($)	Nov. 20, 2023 USD ($) $ / shares shares	Sep. 05, 2023 USD ($)	May 11, 2023 USD ($) Integer $ / shares shares	Mar. 10, 2023 USD ($)	Feb. 23, 2023 USD ($)	Jan. 01, 2023 USD ($)	Oct. 25, 2022	Jan. 26, 2022 USD ($)	Jan. 13, 2022 USD ($) $ / shares shares	Dec. 30, 2021 USD ($)	Oct. 25, 2021 USD ($) $ / shares shares	Sep. 15, 2021 USD ($)	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)		Sep. 30, 2023 USD ($)		Jun. 30, 2023 USD ($)		Mar. 31, 2023 USD ($)		Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 22, 2024 USD ($)	Jul. 12, 2024 USD ($)	May 17, 2024 USD ($) $ / shares	May 16, 2024 USD ($) $ / shares	May 09, 2023 USD ($)	Dec. 21, 2022 USD ($)	Dec. 05, 2022 $ / shares	Jan. 14, 2022 USD ($)
Debt instrument conversion shares | shares																																50,000
Conversion price | $ / shares					$ 3.78
Issuance to purchase of warrants | shares				50,000																	428,951	428,951										428,951
Issuance to purchase of warrants | $ / shares				$ 4	$ 0.01												$ 237.50				$ 3.78	$ 3.78										$ 3.78						$ 4	$ 6			$ 19
Principal amount					2%
Issuance of shares- Notes conversion																					$ 325,000	$ 2,689,000	$ 1,023,000	$ 3,570,000		$ 650,000		$ 400,000		$ 1,394,000		$ 3,700,000	$ 1,800,000
Debt face amount																						$ 4,000,000						724,000				$ 2,800,000	251,000
[custom:NoteExtensionPercentage-0]																					4%	4%										4%
Debt face amount																												7,900,000					7,900,000
Debt principal balance outstanding																					$ 5,300,000	$ 5,300,000										$ 5,300,000
Accrued interest												18%																											15%
Debt default, amount												$ 617,000
Accrued interest paid												$ 617,000
Extension fee											$ 250,000											$ 325,000										325,000
Percentage of principal outstanding											14%
Percentage of outstanding shares											4.99%
Debt instrument conversion amount																																$ 1,500,000
Debt instrument, prepayment penalty, percentage																																20%
Prepayment penalty description																																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%.
Debt instrument conversion price exceeds | $ / shares																																$ 5
Floor price description					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.
Warrants outstanding | shares					850,000																3,820,152	3,820,152										3,820,152
Debt instrument description					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.
Warrant repriced price per share | $ / shares				6																	$ 6	$ 6										$ 6
Loss on debt extinguishment					$ 5,800,000																	$ (5,600,000)						(2,054,000)				$ (8,698,000)	(1,581,000)
Warrant liability																					$ 314,000	314,000										314,000
Warrants and rights outstanding																					$ 386,000	386,000										$ 386,000
Issuance to purchase of warrants percentage																																						61.83%
Deemed dividend																						$ 66,000				656,000
Interest rate		9%																			14%	14%										14%
Principal and interest payments																					$ 9,200,000	$ 9,200,000										$ 9,200,000
Prepaid expenses and other current assets																					12,461,000	12,461,000		1,416,000								12,461,000		1,416,000
Other assets																					2,946,000	2,946,000		2,954,000								2,946,000		2,954,000
Borrowings																					9,028,000	9,028,000										9,028,000
Secured promissory note issued		$ 12,500,000
Additional common stock issued																																112,500,000
Related party debt		$ 314,000
Related party debt																						31,000										31,000
Maximum borrowing capacity																				$ 1,000,000
Interest rate																				0.75%
Line of credit														$ 350,000
Repayments of line of credit																																	$ 350,000	350,000
Subsequent Event [Member]
Convertible Note																																					$ 111,250,000
Borrowings																																				$ 2,160,000
Borrower [Member]
Convertible Note																					734,000	734,000										734,000
Borrowings																																						$ 720,000
Deferred financing costs																					118,000	118,000										118,000
Prepaid expenses and other current assets																					39,000	39,000										39,000
Other assets																					79,000	79,000										79,000
NYDIG [Member]
[custom:ProceedsFromCollateralizedAssets]										$ 3,400,000
Gain (Loss) on Disposition of Assets																																		251,000
Loss Contingency, Damages Sought, Value								$ 10,300,000
Debt, Current						$ 9,200,000
[custom:PenaltyFee]						$ 1,000,000
Interest Payable																					1,500,000	1,500,000		936,000								1,500,000		936,000
Interest expense, debt																						361,000										723,000
Soluna SLC Fund II Project Holdco LLC [Member]
Borrowings																																							$ 1,000,000
NYDIG [Member]
Convertible Note																					9,183,000	9,183,000		10,546,000								9,183,000		10,546,000
Aggregate debt amount																																9,800,000
Debt principal balance outstanding																					9,183,000	9,183,000		9,183,000								9,183,000		9,183,000
Monthly principle payment																																730,000
Principal amount																					$ 4,600,000	$ 4,600,000										$ 4,600,000
Soluna MC LLC [Member]
Equity interest ownership percentage																100%
Common Stock Trading One [Member]
Consecutive trading days | Integer											10
Convertible stock price trigger, per share | $ / shares											$ 12.50
Trade on shares | shares											40,000
Common Stock Trading Two [Member]
Consecutive trading days | Integer											10
Convertible stock price trigger, per share | $ / shares											$ 17.50
Trade on shares | shares											40,000
Common Stock Trading Three [Member]
Consecutive trading days | Integer											10
Convertible stock price trigger, per share | $ / shares											$ 22.50
Trade on shares | shares											40,000
Repriced Warrant [Member]
Issuance to purchase of warrants | $ / shares																					$ 0.01	$ 0.01										$ 0.01
Debt instrument conversion amount																																$ 4,700,000
Debt instrument conversion shares | shares																																150,000
Debt instrument conversion price | $ / shares							$ 31.33																									$ 3.78
Warrants outstanding | shares					478,951
Repriced Warrant [Member] | Minimum [Member]
Warrant exercise price decrease | $ / shares					$ 6
Repriced Warrant [Member] | Maximum [Member]
Warrant exercise price decrease | $ / shares					$ 6
Warrant [Member]
Warrants outstanding | shares					320,005
Warrant [Member] | Minimum [Member]
Warrant exercise price decrease | $ / shares					$ 3.78
Warrant [Member] | Maximum [Member]
Warrant exercise price decrease | $ / shares					$ 3.78
Common Stock [Member]
Issuance to purchase of warrants | shares																	3,400
Issuance of shares- Notes conversion																						$ 1,000		2,000	[1]		[1]		[1]		[1]
Deemed dividend	[1]
Noteholders [Member]
Aggregate deposit amount																																									$ 950,000
Class A Warrants [Member]
Issuance to purchase of warrants | $ / shares											$ 12.50
Shares new issues | shares											240,000
Class B Warrants [Member]
Issuance to purchase of warrants | $ / shares											$ 20
Shares new issues | shares											80,000
Warrant One [Member]
Issuance to purchase of warrants | $ / shares																					0.01	$ 0.01										0.01
Warrants issued | shares																						583,373
Warrant Two [Member]
Issuance to purchase of warrants | $ / shares																					4.20	$ 4.20										4.20
Warrants issued | shares																						686,322
Warrant Three [Member]
Issuance to purchase of warrants | $ / shares																					$ 5.70	$ 5.70										$ 5.70
Warrants issued | shares																						686,322
October Secured Notes [Member]
Principal amount															8%
Maturity date															Apr. 25, 2023
Accrued interest rate															18%
Holders [Member]
Warrants outstanding | shares																					51,618	51,618										51,618
adjustments warrants | shares																					530,569	530,569										530,569
Noteholders [Member]
Warrants outstanding | shares																					51,618	51,618										51,618
Warrant repriced price per share | $ / shares																					$ 6	$ 6										$ 6
Non Noteholders [Member]
Warrants outstanding | shares																					51,618	51,618										51,618
Noteholder One [Member]
Issuance to purchase of warrants | $ / shares				$ 0.01
Warrants issued | shares				68,000
Noteholder Two [Member]
Issuance to purchase of warrants | $ / shares				$ 4.20
Warrants issued | shares				80,000
Noteholder Three [Member]
Issuance to purchase of warrants | $ / shares				$ 5.70
Warrants issued | shares				80,000
Navitas Term Loan [Member]
Long term debt, current																					$ 460,000	$ 460,000		1,700,000								$ 460,000		1,700,000
Principal and interest payments																					1,200,000	1,200,000		547,000								$ 1,200,000		547,000
Securities Purchase Agreement [Member]
Convertible Note																			$ 16,300,000
Securities Purchase Agreement [Member] | October Warrants [Member]
Issuance to purchase of warrants | shares																			1,776,073
Securities Purchase Agreement [Member] | October Warrants [Member] | Class A Warrant [Member]
Issuance to purchase of warrants | $ / shares																			$ 12.50
Securities Purchase Agreement [Member] | October Warrants [Member] | Class B Warrant [Member]
Issuance to purchase of warrants | $ / shares																			15
Securities Purchase Agreement [Member] | October Warrants [Member] | Class C Warrant [Member]
Issuance to purchase of warrants | $ / shares																			$ 18
Securities Purchase Agreement [Member] | October Secured Notes [Member]
Aggregate debt amount																			$ 15,000,000
Debt instrument conversion shares | shares																			1,776,073
Conversion price | $ / shares																			$ 9.18
Third Amendment Agreement [Member]
Prepayment of debt									$ 1,500,000
Debt instrument conversion amount									$ 4,700,000
Debt instrument conversion shares | shares									150,000
Debt instrument conversion price | $ / shares									$ 0.01
Fourth Amendment Agreement [Member]
Gain on revaluation associated with the warrant liability			$ 1,600,000																				1,500,000
Warrant liability																							$ 6,000,000
Master Agreement [Member]
Convertible Note																																											$ 4,600,000
Aggregate debt amount																$ 9,800,000
Interest rate																																											14%
Subordinated Borrowing Terms and Conditions																																the principal balance of $10.5 million became due immediately and the Borrower was to bear interest, at a rate per annum equal to 2.0% plus the rate per annum otherwise applicable to such obligations set forth in the Master Agreement.
[custom:AccruedInterestAndPenalty]																																			$ 274,000
Master Agreement [Member] | NYDIG [Member]
Aggregate debt amount																		$ 14,400,000
Consent And Waiver Agreement [Member]
Aggregate debt amount																	$ 3,000,000
Master Equipment Finance Agreement [Member]
[custom:ProceedsFromCollateralizedAssets]													$ 3,400,000
Interest Payable, Current													$ 560,000
Loan and Security Agreement [Member]
Convertible Note																					12,531,000	12,531,000										$ 12,531,000
Long term debt, current																					2,632,000	2,632,000										2,632,000
Principal and interest payments
Borrowings																					9,028,000	9,028,000										9,028,000
Secured promissory note issued																					11,660,000	11,660,000										11,660,000
Loan and Security Agreement [Member] | Navitas Term Loan [Member]
Convertible Note																					$ 1,707,000	$ 1,707,000		2,254,000								$ 1,707,000		2,254,000						$ 2,050,000
Maturity date																																May 09, 2025
Interest rate																					15%	15%										15%								15%
Debt, Current																					$ 460,000	$ 460,000		1,682,000								$ 460,000		1,682,000
Interest expense, debt																						37,000										100,000
Principal and interest payments																					$ 1,234,000	$ 1,234,000		$ 547,000								$ 1,234,000		$ 547,000
[1]Prior period results have been adjusted to reflect the Reverse Stock Split of the Common Stock at a ratio of 1-for-25

Schedule of Reserved Shares of

Schedule of Reserved Shares of Common Stock for Future Issuance (Details) - shares	Jun. 30, 2024	Feb. 28, 2024
Equity [Abstract]
Stock options outstanding	3,325
Restricted stock units outstanding	5,692
Warrants outstanding	3,820,152	850,000
Common stock available for future equity awards or issuance of options	15,951
Number of common shares reserved	3,845,120

Schedule of Basic and Diluted P

Schedule of Basic and Diluted Per Share Computations for Continuing Operations (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended					6 Months Ended				9 Months Ended
		Jun. 30, 2024		Sep. 30, 2023	Jun. 30, 2023		Jun. 30, 2024		Jun. 30, 2023		Sep. 30, 2023
Numerator:
Net loss		$ (9,145)			$ (9,257)		$ (11,689)		$ (16,689)
(Less) Net income (loss) attributable to non-controlling interest		(1,728)			482		(4,438)		852
Net loss attributable to Soluna Holdings, Inc.		(10,873)			(8,775)		(16,127)		(15,837)
Less: Preferred dividends or deemed dividends		(66)			(252)		(452)		(383)
Less: Cumulative Preferred Dividends in arrears		(2,609)			(1,722)		(4,331)		(3,444)
Balance		$ (13,548)			$ (10,749)		$ (20,910)		$ (19,664)
Basic and Diluted EPS:
Common shares outstanding, beginning of period, including penny warrants		2,958,851			1,015,255		2,592,454		940,047
Weighted average common shares issued during the period including penny warrants issued and outstanding as of quarter-end		1,594,845			109,436		1,091,104		55,021
Weighted Average Number of Shares Outstanding, Diluted	[1]	4,563,696			1,126,091		3,683,558		996,228
Weighted average common shares Basic		$ (2.97)		$ (5.96)	$ (9.54)		$ (5.68)		$ (19.74)		$ (24.16)
Weighted average common shares Diluted		$ (2.97)	[1]	$ (5.96)	$ (9.54)	[1]	$ (5.68)	[1]	$ (19.74)	[1]	$ (24.16)
[1]Prior period results have been adjusted to reflect the Reverse Stock Split of the Common Stock at a ratio of 1-for-25

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)					3 Months Ended		6 Months Ended		15 Months Ended
	Oct. 11, 2023	Aug. 11, 2023	Jul. 19, 2022	Apr. 13, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	May 17, 2024	May 16, 2024	Mar. 05, 2024	Feb. 28, 2024	Dec. 05, 2022	Jan. 13, 2022
Class of Stock [Line Items]
Share purchase price
Share description	every 25 issued and outstanding shares of the Company common stock was converted automatically into one share of the Company’s common stock without any change in the par value per share
Warrants to purchase shares					428,951		428,951					50,000
Share issued , price					$ 3.78		$ 3.78			$ 4	$ 6	$ 4	$ 0.01	$ 19	$ 237.50
Common stock, par value					$ 0.001		$ 0.001		$ 0.001
Common stock voting rights							Each share of the Company’s common stock is entitled to one vote on all matters submitted to stockholders.
Common stock, shares outstanding					5,232,104		5,232,104		2,505,620
Future equity awards					15,951		15,951
Warrant [Member]
Class of Stock [Line Items]
Potentially dilutive securities					3,820,152	23,835,852	3,820,152	23,835,852
Common Stock [Member]
Class of Stock [Line Items]
Share purchase price
Warrants to purchase shares															3,400
Potentially dilutive securities					3,325	1,309,789	3,325	1,309,789
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, liquidation preference					$ 25		$ 25		$ 25
Preferred stock, par value					$ 0.001		$ 0.001		$ 0.001
Preferred stock shares outstanding					4,953,545		4,953,545		3,061,245
Preferred stock shares sold					4,953,545		4,953,545		3,061,245
Preferred stock, participation rights							Preferences and Rights of 9.0% Series A Cumulative Perpetual Preferred Stock of the Company, dividends, when, as and if declared by the Board (or a duly authorized committee of the Board), will be payable monthly in arrears on the final day of each month, beginning August 31, 2021.
Dividend arrears									$ 8,600,000
Dividends					$ 2,600,000		$ 4,300,000
Dividends in arrears total					$ 12,900,000		$ 12,900,000
Future equity awards					14,888		14,888
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, par value					$ 0.0001		$ 0.0001		$ 0.0001
Preferred stock, value outstanding					$ 100		$ 100
Preferred stock shares outstanding					62,500		62,500		62,500
Preferred stock shares sold					62,500		62,500		62,500
Share issued , price		$ 0.00001
Shares issued for cancellation of warrants				40,000
Exercise price				$ 287.50
Dividends in arrears total		$ 656,000
Preferred stock, dividend rate, percentage							10%
Common stock dividends, shares		44,000
Prefunded warrants dividends shares		70,300
Warrant funded amount		$ 0.19999
Common stock shares percentage		4.99%
Series B Preferred Stock [Member] | Warrant [Member]
Class of Stock [Line Items]
Warrants to purchase shares			40,000
Share issued , price			$ 250
Series B Preferred Stock [Member] | Securities Purchase Agreement [Member]
Class of Stock [Line Items]
Preferred stock shares sold			62,500
Share purchase price			$ 5,000,000
Share description			The shares of Series B Preferred Stock are initially convertible, subject to certain conditions, into 46,211 shares of common stock, at a price per share of $135.25 per share, a 20% premium to the closing price of the common stock on July 18, 2022, subject to adjustment as set forth in the Certificate of Designations of Preferences, Rights and Limitations for the Series B Preferred Stock (“Series B Certificate of Designations”)
Share conversion to common stock			46,211
Share price			$ 135.25
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Potentially dilutive securities					5,692	297,680	5,692	297,680

Schedule of Lease Expense Recog

Schedule of Lease Expense Recognized on Straight-line Basis Over Lease Term (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 61	$ 60	$ 122	$ 116
Short-term lease cost
Total net lease cost	$ 61	$ 60	$ 122	$ 116

Schedule of Other Information R

Schedule of Other Information Related to Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Weighted Average Remaining Lease Term (in years)	4 years 1 month 24 days
Operating leases, Weighted Average Discount Rate	7.03%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 123	$ 111
Non-Cash Activity Right-of-use assets obtained in exchange for lease obligations:
Operating leases		$ 397

Schedule of Maturity of Operati

Schedule of Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
2024 (remainder of year)	$ 124
2025	79
2026	29
2027	29
2028	29
Thereafter	116
Total lease payments	406
Less: imputed interest	(78)
Total lease obligations	328
Less: current obligations	159	$ 220
Long-term lease obligations	$ 169	$ 216

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	May 09, 2023	Aug. 05, 2022	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Feb. 13, 2024	Dec. 07, 2023	Sep. 05, 2023	Feb. 23, 2023
Loss Contingencies [Line Items]
Other commitments description	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.	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.			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
Litigation accrual				$ 358	$ 358
Outstanding principal				9,200	9,200
Gain on settlement				254	254
Master Equipment Finance Agreement [Member]
Loss Contingencies [Line Items]
Repossessed Assets										$ 3,400
Accrued interest and penalty										560
NYDIG ABL LLC [Member]
Loss Contingencies [Line Items]
Repossessed Assets									$ 3,400	$ 3,400
Accrued interest and penalty				$ 1,500	1,500	$ 936
Loss on disposition of assets						$ 251
Convertible Note								$ 10,300
Debt outstanding							$ 9,200
Penalty fee					$ 1,000
Atlas Technology Group LLC [Member]
Loss Contingencies [Line Items]
Prepaid fee			$ 464
Legal fee and other cost			$ 7,900
Minimum [Member]
Loss Contingencies [Line Items]
Remaining lease terms				1 year	1 year
Maximum [Member]
Loss Contingencies [Line Items]
Remaining lease terms				10 years	10 years

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)			3 Months Ended		6 Months Ended		12 Months Ended
	Oct. 29, 2021	Dec. 18, 2013	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Oct. 10, 2023	May 26, 2023	Jan. 01, 2014
Related Party Transaction [Line Items]
Promissory note available to convert					$ 1,500,000
Stock based awards					109,000		$ 110,000
Notes receviable			$ 48,000		48,000		446,000
Other assets			2,946,000		2,946,000		2,954,000
Payment of related party			$ 31,000		$ 31,000
Merger shares issued			15,951		15,951
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Description of director owns					(i) 90% of the equity of Soluna Technologies Investment I, LLC, which owns 57.9% of HEL and (ii) 100% of the equity of MJT Park Investors, Inc., which owns 3.1% of HEL, in each case, on a fully diluted basis. Mr. Toporek does not own directly, or indirectly, any equity interest in Tera Joule, LLC, which owns 9.2% of HEL; however, as a result of his 100% ownership of Brookstone IAC, Inc., which is the manager of Tera Joule, LLC, he has dispositive power over the equity interests that Tera Joule owns in HEL.
Interest expense					$ 0
Matthew E. Lipman [Member]
Related Party Transaction [Line Items]
Description of director owns					Tera Joule, LLC, which owns 9.2% of HEL; however, as a result of his position as a director and officer of Brookstone IAC, Inc., which is the manager of Tera Joule, LLC, he has dispositive power over the equity interests that Tera Joule owns in HEL. As a result, the approximate dollar value of the amount of Mr. Toporek’s and Mr. Lipman’s interest in the Company’s transactions with HEL for the six months ended June 30, 2024 was $0 and $0.
Interest expense					$ 0
John Belizaire and John Bottomley [Member]
Related Party Transaction [Line Items]
Description of director owns					In addition, Mr. Belizaire is the beneficial owner of 1,317,567 shares of common stock of HEL and 102,380 Class Seed Preferred shares, which are convertible into 86,763 shares of common stock of HEL. These interests give Mr. Belizaire an ownership of 10.54% in HEL. Mr. Belizaire also owns an interest in HEL indirectly through his 5.0139% interest of Tera Joule, LLC’s 965,945 Class Seed Preferred shares, which are convertible into 818,596 shares of common stock of HEL. Mr. Bottomley is the beneficial owner of 96,189, or approximately 0.72%, of the outstanding shares of common stock of HEL.
Shares converted					1,317,567
John Belizaire and John Bottomley [Member] | Class Seed Preferred Share [Member]
Related Party Transaction [Line Items]
Shares converted					102,380
Merger Agreement [Member]
Related Party Transaction [Line Items]
Merger shares issued										59,400
Notes Receivable [Member]
Related Party Transaction [Line Items]
Notes receviable			$ 13,000		$ 13,000		13,000
Other assets			96,000		96,000		97,000
MeOH Power, Inc. [Member]
Related Party Transaction [Line Items]
Company paid		$ 380,000
Share price											$ 0.07
Promissory note available to convert					374,000		$ 363,000
Couch White, LLP [Member]
Related Party Transaction [Line Items]
Legal services			$ 1,000	$ 2,000	$ 1,000	$ 2,000
Soluna Computing Inc [Member]
Related Party Transaction [Line Items]
Payment of related party	$ 725,000
SCI US Holdings LLC [Member]
Related Party Transaction [Line Items]
Shares issued for merger agreement									39,600	19,800
Merger shares issued										59,400
Harmattan Energy Ltd [Member]
Related Party Transaction [Line Items]
Shares converted					86,763
Payments to acquire investments					$ 750,000			$ 750,000
Equity method investments writing it down								$ 0
Investment percentage			1.79%		1.79%		1.79%
Harmattan Energy Ltd [Member] | Common Stock [Member]
Related Party Transaction [Line Items]
Shares converted					818,596
Tera Joule, LLC [Memebr] | Class Seed Preferred Share [Member]
Related Party Transaction [Line Items]
Shares converted					965,945
Mr. Bottomley [Member] | Common Stock [Member]
Related Party Transaction [Line Items]
Shares converted					96,189

Stock Based Compensation (Detai

Stock Based Compensation (Details Narrative) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 15, 2024	Jun. 29, 2023	Mar. 10, 2023	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved percentage		23.75%	9.75%
Shares description						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.
Unrecognised compensation				$ 5.8		$ 5.8
Weighted average period						2 years 4 months 24 days
Shares called	48,547
Shares called value	$ 4
2021 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved percentage					18.75%
2023 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved percentage					23.75%
2021 Stock Plan [Member] | Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Series A preference shares issued, shares				391,544		391,544
Price per share on date of grant				$ 1.52		$ 1.52
Stock issued restricted stock units						90,734	500,000
Price per share on date of grant						$ 2.41
Price per share on date of grant							$ 0.2986
2021 Stock Plan [Member] | Restricted Stock [Member] | Series A Preferred Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Price per share on date of grant				2.50		$ 2.50
Stock issued restricted stock units						1,892,300
2023 Stock Plan [Member] | Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares description						25,309 of the restricted stock awards vest immediately, 2,022,246 of the restricted stock awards vest at separation from the Company, 690,223 of the restricted stock awards vest 33% on June 1 ,2024, 33% on June 1, 2025 and 34% on June 1, 2026, and 304,289 of the restricted stock awards vest 33% on June 1, 2025, 33% on June 1 , 2026 and 34% on June 1, 2027
Price per share on date of grant				1.52		$ 1.52
Stock issued restricted stock units						610,234
2023 Stock Plan [Member] | Restricted Stock [Member] | Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Price per share on date of grant				$ 2.41		$ 2.41
Stock issued restricted stock units						57,255
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted shares								1,460,191

Schedule of Results of Project

Schedule of Results of Project Marie (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating costs:
Impairment on fixed assets		$ 169	$ 130	$ 377
Interest expense	(449)	(486)	(873)	(1,861)
Gain (loss) on sale of fixed assets	21	(48)	21	30
Other income, net	49	238	25	226
Cryptocurrency Mining Revenue [Member]
Short-Term Debt [Line Items]
Total revenue	4,484	915	10,880	3,711
Data Hosting Revenue [Member]
Short-Term Debt [Line Items]
Total revenue	4,898	1,153	10,176	1,439
Project Marie [Member]
Short-Term Debt [Line Items]
Total revenue	2		5	1,045
Operating costs:
Cost of cryptocurrency mining revenue, exclusive of depreciation				801
Cost of revenue- depreciation		8		130
Data hosting (income) costs		(10)		205
Operational service costs-intercompany	1		2
General and administrative expense		34	(32)	319
Impairment on fixed assets				43
Interest expense	361	315	723	692
Gain (loss) on sale of fixed assets				11
Gain on settlement	254		254
Other income, net	4		11
Net loss before income taxes	(102)	(347)	(423)	(1,134)
Project Marie [Member] | Cryptocurrency Mining Revenue [Member]
Short-Term Debt [Line Items]
Total revenue				769
Project Marie [Member] | Operation Service Revenue Intercompany [Member]
Short-Term Debt [Line Items]
Total revenue	2		5
Project Marie [Member] | Data Hosting Revenue [Member]
Short-Term Debt [Line Items]
Total revenue				$ 276

PROJECT MARIE (Details Narrativ

PROJECT MARIE (Details Narrative) - USD ($) $ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 25, 2024

Sep. 05, 2023

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Dec. 31, 2023

Dec. 31, 2022

Jun. 20, 2024

Feb. 13, 2024

Dec. 07, 2023

Mar. 31, 2023

Defined Benefit Plan Disclosure [Line Items]

Legal fees

$ 740

Outstanding principal balance

$ 12,500

Refund for insurance expenses

$ 32

Master Equipment Finance Agreement [Member]

Defined Benefit Plan Disclosure [Line Items]

Assets repossessed total

1,000

$ 3,400

Settlement Agreement [Member] | Atlas Technology Group LLC [Member]

Defined Benefit Plan Disclosure [Line Items]

Settlement amount

$ 210

Gain on settlement

$ 254

Project Marie [Member]

Defined Benefit Plan Disclosure [Line Items]

Net book value

3,400

Net book value

251

Penalty fees

1,000

Debt outstanding

9,200

Payments for legal settlements

$ 3,400

Accrued interest and penalty

$ 1,500

1,500

$ 936

Gain on settlement

254

254

Investors [Member]

Defined Benefit Plan Disclosure [Line Items]

Convertible Note

$ 10,500

$ 10,300

Debt rate

2%

Outstanding principal balance

$ 9,200

$ 9,200

$ 9,200

Disposal of property plant and equipment

$ 2,400

Schedule of Variable Interest E

Schedule of Variable Interest Entities of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Prepaids and other current assets	$ 12,461	$ 1,416
Total Current Assets	27,480	14,284
Operating lease right-of-use assets	325	431
Property, plant, and equipment, net	41,472	44,572
Total Assets	98,675	91,276
Current liabilities:
Accounts payable, related party	2,452	2,099
Accrued expense	6,286	4,906
Customer deposits-current	2,391	1,588
Operating lease liability	159	220
Total Current Liabilities	32,526	28,175
Operating lease liability	169	216
Other liabilities, related party	499	499
Total Liabilities	48,742	37,917
Variable Interest Entity, Primary Beneficiary [Member] | DVSL ComputeCo, LLC [Member]
Current assets:
Cash and restricted cash	3,090	2,275
Accounts receivable	1,105	1,201
Prepaids and other current assets	29
Total Current Assets	4,507	3,661
Other assets- long term, related party	2,192	2,172
Operating lease right-of-use assets	87	90
Property, plant, and equipment, net	13,195	13,712
Total Assets	19,981	19,635
Current liabilities:
Accrued expense	1,011	677
Customer deposits-current	1,300
Operating lease liability	7	7
Total Current Liabilities	2,413	684
Operating lease liability	80	83
Customer deposits- long term		1,190
Total Liabilities	2,717	2,181
Variable Interest Entity, Primary Beneficiary [Member] | DVSL ComputeCo, LLC [Member] | Related Party [Member]
Current assets:
Other receivable, related party	283	185
Current liabilities:
Accounts payable, related party	95
Other liabilities, related party	224	224
Variable Interest Entity, Primary Beneficiary [Member] | Devco LLC [Member]
Current assets:
Cash and restricted cash	2,018	2,575
Accounts receivable	98	217
Prepaids and other current assets	29
Total Current Assets	2,888	3,268
Other assets- long term, related party	2,192	2,172
Operating lease right-of-use assets	87	90
Property, plant, and equipment, net	19,786	22,188
Total Assets	24,953	27,718
Current liabilities:
Accrued expense	1,271	2,213
Operating lease liability	7	7
Current portion of debt	460	1,682
Total Current Liabilities	3,231	5,161
Operating lease liability	80	83
Total Liabilities	3,311	5,244
Variable Interest Entity, Primary Beneficiary [Member] | Devco LLC [Member] | Related Party [Member]
Current assets:
Other receivable, related party	743	476
Current liabilities:
Accounts payable, related party	$ 1,493	$ 1,259

VARIABLE INTEREST ENTITY (Detai

VARIABLE INTEREST ENTITY (Details Narrative) - USD ($)					3 Months Ended	6 Months Ended
	May 09, 2023	Mar. 10, 2023	Aug. 05, 2022	May 03, 2022	Jun. 30, 2024	Jun. 30, 2024	Jun. 20, 2024	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Other commitments, description	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.		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.			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
Purchase price					$ 31,000	$ 31,000
Debt instrument percentage					14%	14%	9%
Purchase and Sale Agreement [Member] | Parent Company [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Series A preference shares issued, shares		6,790,537
Spring Lane [Member] | Purchase and Sale Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purchase price		$ 7,500,000
Series A preference shares issued, shares		39,791,988
Purchase price		$ 5,770,065
Spring Lane [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage					67.80%	67.80%
Spring Lane [Member] | Purchase and Sale Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage		85.40%
Soluna DVSL ComputeCo, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage					32.20%	32.20%
Soluna DV Devco, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage					100%	100%
Parent [Member] | Purchase and Sale Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage		14.60%
Dorothy Phase 1A Facility [Member] | Purchase and Sale Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage		67.80%
Equity method investment description		After Spring Lane Capital realizes an 16% Internal Rate of Return hurdle on its investments, the Company retains the right to 50% of the profits on Soluna DVSL ComputeCo. In connection with the Spring Lane transactions and agreements, Soluna DV Services, LLC. will be providing the operations and maintenance services to Soluna DVSL ComputeCo, LLC. Soluna DV Services, LLC expects to receive a margin of 20% for services rendered.
DVSL ComputeCo, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage					14.60%	14.60%
Debt instrument percentage								67.80%	14.60%
Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Capital contribution			$ 26,300,000
Minimum [Member] | Spring Lane [Member] | Purchase and Sale Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purchase price		$ 7,500,000
Spring Lane [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Initial funding for project				$ 35,000,000
Capital contribution										$ 4,800,000

Schedule of Segment Reporting I

Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands		3 Months Ended						6 Months Ended
	Feb. 28, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from External Customer [Line Items]
Total segment and consolidated cost of revenues		$ 5,565				$ 2,458		$ 11,180	$ 5,605
General and administrative expenses		5,382				4,136		9,378	8,496
Interest expense		(449)				(486)		(873)	(1,861)
Loss on debt extinguishment and revaluation	$ 5,800	(5,600)				(2,054)		(8,698)	(1,581)
Loss (gain) on sale of fixed assets		(21)				48		(21)	(30)
Income tax (benefit) from continuing operations		649				547		1,197	1,093
Net loss		(9,145)	$ (2,544)	$ (4,997)	$ (6,016)	(9,257)	$ (7,432)	(11,689)	(16,689)
(Less) Net (income) loss attributable to non-controlling interest		(1,728)				482		(4,438)	852
Net loss attributable to Soluna Holdings, Inc.		(10,873)				(8,775)		(16,127)	(15,837)
Depreciation and amortization		2,403				2,379		4,805	4,756
Reportable Subsegments [Member]
Revenue from External Customer [Line Items]
Total segment and consolidated revenue		9,675				2,068		22,224	5,150
Total segment and consolidated cost of revenues		5,565				2,458		11,180	5,605
General and administrative expenses		7,785				6,515		14,183	13,252
Impairment on fixed assets						169		130	379
Interest expense		449				486		873	1,861
Loss on debt extinguishment and revaluation		5,600				2,054		8,698	1,581
Loss (gain) on sale of fixed assets		21				(48)		21	30
Other expense, net		49				238		25	224
Income tax (benefit) from continuing operations		(649)				(547)		(1,197)	(1,093)
Net loss		(9,145)				(9,257)		(11,689)	(16,689)
(Less) Net (income) loss attributable to non-controlling interest		(1,728)				482		(4,438)	852
Net loss attributable to Soluna Holdings, Inc.		10,873				(8,775)		16,127	(15,837)
Capital expenditures		44				2,035		278	2,895
Depreciation and amortization		3,909				2,918		7,834	5,920
Cryptocurrency Mining Revenue [Member]
Revenue from External Customer [Line Items]
Total segment and consolidated revenue		4,484				915		10,880	3,711
Total segment and consolidated cost of revenues		1,883				1,160		3,724	3,410
Data Hosting Revenue [Member]
Revenue from External Customer [Line Items]
Total segment and consolidated revenue		4,898				1,153		10,176	1,439
Total segment and consolidated cost of revenues		2,176				759		4,427	1,031
Demand Response Service Revenue [Member]
Revenue from External Customer [Line Items]
Total segment and consolidated revenue		293						1,168
Cost of Revenue Depreciation [Member]
Revenue from External Customer [Line Items]
Total segment and consolidated cost of revenues		$ 1,506				$ 539		$ 3,029	$ 1,164

Segment Information (Details Na

Segment Information (Details Narrative) - Segment	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue, Major Customer [Line Items]
Number of reportable segments			2
Number of operating segments			0
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Project Dorothy 1B [Member] | Cryptocurrency Mining Revenue [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100%	0%	100%	0%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Project Marie [Member] | Cryptocurrency Mining Revenue [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	0%	100%	0%	21%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Project Marie [Member] | Hosting Revenue [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage			0%	19%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Project Sophie [Member] | Cryptocurrency Mining Revenue [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage			0%	79%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Project Sophie [Member] | Hosting Revenue [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	27%	60%	30%	48%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Project Dorothy 1A [Member] | Hosting Revenue [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	73%	40%	70%	32%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Project Edith [Member] | Hosting Revenue [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage			0%	1%

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Jul. 22, 2024	May 16, 2024	Jul. 12, 2024
Equipment Loan Agreement [Member]
Subsequent Event [Line Items]
Equipment and machinery to be purchased		$ 1,000,000
Borrowing Amount		720,000
Borrowing amount conversion feature		$ 2,160,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Convertible Note			$ 111,250,000
Subsequent Event [Member] | Compute Co [Member]
Subsequent Event [Line Items]
Ownership percentage	49%
Description of investment	This investment can occur within 30 days after the Effective Date (treated equally to the initial Investor), from day 31 to 180 days after the Effective Date (subject to a purchase price formula with a 20% discount rate), or after 180 days with the initial Investor’s approval
Subsequent Event [Member] | Maximum [Member]
Subsequent Event [Line Items]
Capital contribution	$ 4,600,000
Subsequent Event [Member] | Soluna Two SLC FundII Project Holdco LLC [Member] | Maximum [Member]
Subsequent Event [Line Items]
Capital contribution	$ 29,980,000
Subsequent Event [Member] | First Amendment To Note Purchase Agreement [Member]
Subsequent Event [Line Items]
Convertible Note			$ 1,250,000
Warrants outstaning term	They allow the purchase of a number of shares of Soluna Cloud common stock equal to 1.25% of Soluna Cloud’s issued and outstanding common stock as of the Cloud Additional Warrant date, divided by 0.9875, plus 1.25% of each Qualified Issuance, divided by 0.9875