Solana Company reported $3.4 million in third-quarter revenue, up from $697,000 a year earlier. Net income reached $105.2 million, driven largely by a $102.7 million unrealized gain on its SOL holdings, compared with a $352.8 million loss in the prior year. The company earned 30,800 SOL in staking rewards, which were automatically restaked, and recorded an operating gross margin of approximately 82%. As of September 30, it held about 2.4 million SOL valued at $288 million, while delegations to Pacific Backbone increased from 1.3 million to 1.5 million SOL over five weeks.
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