SOL Strategies reports Q2 net loss of $3.5M while staking, validating revenue surge

In addition to buffering its SOL holdings, SOL Strategies added SUI to its balance sheets and decreased exposure to Bitcoin in Q1 2025.

SOL Strategies, a Canadian public company focused on Solana infrastructure, reported a net loss in the second quarter even as revenue from staking and validating surged.

The company, which trades on the Canadian Securities Exchange (CSE) under the ticker HODL, reported a net loss of CA$4.8 million ($3.5 million) for the second quarter of 2025, while revenue for the period surged to CA$2.54 million CAD ($1.85 million) from CA$67,000 in the same period a year earlier.

SOL Strategies’ revenue growth was driven almost entirely by staking and validating income from its cryptocurrency holdings, particularly Solana (SOL) and Sui (SUI). The company earns income by operating validator nodes and receiving rewards in the form of SOL and other tokens, both from assets it self-delegates and from commissions on third-party delegations.

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