SOL Strategies reported a net loss of $3.5 million in Q2, with revenue rising to $1.85 million.

Gate News bot news, Canadian publicly listed company SOL Strategies (stock code HODL) focusing on Solana infrastructure reports a net loss of 4.8 million CAD (approximately 3.5 million USD) in the second quarter of 2025, while revenue rose from 67,000 CAD last year to 2.54 million CAD (approximately 1.85 million USD) during the same period.

The revenue growth of SOL Strategies comes almost entirely from the staking and validation income of its cryptocurrency holdings, particularly Solana and Sui.

SOL Strategies announced the issuance of $500 million in convertible bonds in April and increased its holdings in SOL and SUI, but significantly reduced its Bitcoin holdings. As of March 31, its total cryptocurrency holdings amounted to 48.3 million CAD (approximately 35.2 million USD).

In addition, the company's total expenses for the quarter were 8.52 million CAD (approximately 6.21 million USD), which included over 3.22 million CAD (approximately 2.35 million USD) in equity incentive expenses and 2.54 million CAD (approximately 1.85 million USD) in amortization expenses related to the recent acquisition of validator infrastructure.

Source: Cointelegraph