Solana Company, listed on Nasdaq under the ticker HSDT, recognized $2.512 million in staking revenue in the second quarter, but these rewards were automatically restaked and not available as cash for operations. The company used an estimated $11.892 million in cash for operations during the quarter, while a $25.389 million realized loss on digital assets was recorded as an accounting charge without an equivalent cash outflow. The firm generated $13.321 million from digital asset sales, $4.242 million from the PoNS sale and $7.9 million from a registered equity offering. The treasury therefore raised funds by selling assets, divesting a business and issuing equity to offset insufficient staking revenue against cash needs.
Source: Read the original article
