The Solana Company reported a Q2 loss of $30.3 million as write-downs on its crypto holdings swamped revenue of just $2.5 million. Staking generated nearly all of that revenue with a gross margin close to 97%, but the decline in SOL’s price forced the firm to record paper losses. As of June 30, total assets stood at $176.1 million, including $147.3 million in long-term digital asset positions. Over the first half, the company posted $6.1 million in revenue yet still reported a net loss of $130.1 million, or $1.66 per share. Shares of Nasdaq-listed HSDT fell 5.56% to close at $1.70 on Friday.
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