Odaily News SOL Strategies, a Canadian global public company focused on Solana infrastructure, recorded a net loss of $3.5 million in the second quarter of 2025 despite significant growth in its staking and validation revenue.
The financial report shows that the company's Q2 revenue reached US$1.85 million, a significant increase from US$67,000 in the same period last year, mainly from Solana and Sui's staking and node verification rewards, including staking of its own assets and commissions from third-party entrustment.
As of March 31, the company's total crypto assets were worth $35.2 million, including the newly added SUI assets, while significantly reducing BTC exposure. In April this year, SOL Strategies announced the issuance of $500 million in convertible notes, and recently submitted a pre-application for a securities issuance of up to $1 billion to support its expansion strategy in the Solana ecosystem.
Despite the revenue growth, its total quarterly expenses reached $6.21 million, including $2.35 million in equity compensation and $1.85 million in amortization expenses, mainly from the recent acquisition of validator infrastructure. In addition, it also included $710,000 in professional fees and $488,000 in interest expenses, far exceeding its crypto revenue. (Cointelegraph)