BlockBeats News, June 3rd, Canadian global publicly listed company SOL Strategies 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 $1.85 million, a significant increase from $67,000 in the same period last year, mainly driven by staking and node validation rewards from Solana and Sui, including self-owned asset staking and third-party delegation commission.
As of March 31st, the company's total cryptocurrency assets reached $35.2 million, including newly added SUI assets, while significantly reducing its BTC exposure. In April of this year, SOL Strategies announced the issuance of $500 million in convertible notes and recently submitted a pre-application for a maximum of $1 billion in securities issuance 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 a recent validator infrastructure acquisition. Additionally, this includes $710,000 in professional fees and $488,000 in interest expenses, far exceeding its crypto revenue.
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