SOL Strategies, a Canadian public company focusing on Solana infrastructure, reported a net loss of CA$4.8 million ($3.5 million) for Q2 2025, despite a significant rise in revenue from staking and validating activities. The company, listed on the Canadian Securities Exchange under the ticker HODL, saw its revenue surge to CA$2.54 million ($1.85 million) from just CA$67,000 a year earlier, primarily driven by staking gains from its cryptocurrency holdings, particularly Solana and Sui. However, operating expenses totaling CA$8.52 million ($6.21 million), including share-based compensation and costs related to acquisitions, outweighed revenue growth. SOL Strategies also decreased its Bitcoin holdings and expanded its SOL and SUI assets. The company filed a base shelf prospectus to facilitate future capital opportunities in the evolving Solana ecosystem, as it navigates a rapidly changing market landscape.

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