Guys, Solana Company brought in $3.4 million in revenue in the third quarter, nearly 5 times what it made in the same period last year.
97% came from staking rewards. It holds 2.4 million SOL, staked at an annualized yield of 5.9%—higher than the network average. This is a business that earns interest on its SOL.
That’s the exact opposite of Bitmine, which I wrote about this morning. Bitmine’s share price has fallen below its book value, so issuing shares to buy crypto is no longer viable. This company can still issue shares at a 5% premium, and it bought another 125,000 SOL.
But 125,000 SOL is barely a drop in the bucket in the secondary market.
The books are based on figures from the end of September, when SOL was still around $120. It’s now at $82, so the value of those coins has fallen by 30%.
A crypto-treasury company can stay afloat on interest, but it can’t prop up the price. For SOL to stop falling, Bitcoin needs to stabilize first. #SolanaCompany第三季度营收340万美元 $SOL
97% came from staking rewards. It holds 2.4 million SOL, staked at an annualized yield of 5.9%—higher than the network average. This is a business that earns interest on its SOL.
That’s the exact opposite of Bitmine, which I wrote about this morning. Bitmine’s share price has fallen below its book value, so issuing shares to buy crypto is no longer viable. This company can still issue shares at a 5% premium, and it bought another 125,000 SOL.
But 125,000 SOL is barely a drop in the bucket in the secondary market.
The books are based on figures from the end of September, when SOL was still around $120. It’s now at $82, so the value of those coins has fallen by 30%.
A crypto-treasury company can stay afloat on interest, but it can’t prop up the price. For SOL to stop falling, Bitcoin needs to stabilize first. #SolanaCompany第三季度营收340万美元 $SOL
