The digital asset treasury business recorded $3.4 million in revenue for the quarter, up from $697,000 during the corresponding timeframe last year.
Solana Company (HSDT) announced significant expansion in its third-quarter revenues, fueled largely by staking returns on its SOL Solana (SOL) assets.
Based on a press release issued on Wednesday, the digital asset treasury firm registered $3.4 million in quarterly sales, marking a sharp rise from the $697,000 reported in the same period of the previous year. Roughly $3.3 million of those earnings were derived from staking activities. Total revenue for the year up to that point climbed to $9.5 million.
As of September 30, the enterprise maintained approximately 2.4 million SOL, carrying an estimated fair market value of $288.2 million. The organization secured an average net staking yield of 5.9% APY across its treasury reserves, beating the broader Solana network baseline average of 4.9% APY. Throughout the quarter, the corporation accumulated 30,800 SOL via staking payouts, which were subsequently compounded back into the network.
Gross profit for the period hit $2.7 million, translating to roughly an 82% gross margin, contrasting with $594,000 in the third quarter of the prior year.
Pacific Backbone
“This marked a historic quarter for Solana Company,” stated Chief Executive Officer Joseph Chee. “Our Pacific Backbone network went operational, institutional partners delegated a million SOL of external stake to us, and that trust is already translating directly into our top-line results.”
The Pacific Backbone serves as Solana Company’s validator and staking infrastructure network situated in the Asia-Pacific region, linking vital financial centers such as Seoul, Tokyo, Singapore, and Hong Kong to bolster Solana validation and staking services.
Activity across the Pacific Backbone accounted for around 1.3 million SOL in aggregate delegated stake at the close of Q3, which included 1 million SOL originating from external entities. Overall assets reached $292.6 million.
“We are constructing the connection that integrates Asian financial markets into Solana, and with our fresh corporate base in Hong Kong, we are positioning ourselves right at the epicenter of user demand,” Chee continued.
The corporation additionally finalized a registered direct offering valued at roughly $15 million at a 5% premium over net asset value per share, deploying the funds to acquire close to 125,000 SOL. Additionally, the firm bought back roughly $2.8 million worth of its Class A common shares during the quarter.
Originally published at https://www.theblock.co/news/business/2026-11-11-solana-company-reports-q3-revenue-growth-438448.
