SOL Strategies reports $3.5 million net loss in Q2 2025, as staking and verification revenue surges

Odaily Planet Daily News SOL Strategies, a Canadian global public company focusing on Solana infrastructure, recorded a net loss of $3.5 million in the second quarter of 2025, despite a significant increase in its staking and verification revenue. The financial report shows that the company's Q2 revenue reached $1.85 million, a significant increase from $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 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 securities issuance of up to $1 billion to support its expansion strategy in the Solana ecosystem. Despite 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)