Solana Company Suffers $30M Net Loss Despite Staking Revenue

Solana Company reported a $30.3 million net loss in Q2 despite earning $2.5 million in revenue, nearly all from staking its SOL holdings.

The company's staking operations generated $2.512 million of its $2.526 million quarterly revenue, while other activities contributed only $14,000.

Revenue rose sharply to $2.5 million from the same period last year, when it reached just $43,000, largely due to building a large Solana treasury.

A significant portion of the loss came from a realized $25.4 million loss on digital assets, which management attributed to 'strategic sales' as part of its capital allocation program.