TON Strategy reports a $23.97 million loss in Q3! With 235 million GRAM in hand, can staking rewards offset price volatility?
The publicly traded company betting on the TON ecosystem has delivered a mixed earnings report.
According to TON Strategy’s third-quarter 2026 results, the company recorded a net loss attributable to common shareholders of approximately $23.97 million, compared with a net profit of approximately $83.27 million in the same period last year.
But there’s one key reason behind the loss: GRAM price volatility.
As of September 30, TON Strategy held approximately 235 million GRAM, with a fair value of around $348 million at the time, while its cost basis was approximately $745 million. In the third quarter, the company recorded a loss of approximately $27.23 million due to changes in the fair value of its digital assets.
At the same time, the company did generate some revenue. Third-quarter revenue was approximately $13.07 million, mainly from GRAM staking rewards, with a quarterly staking yield of approximately 4.09%. The company staked around 233 million GRAM and received approximately 9.43 million GRAM in rewards.
This shows that TON Strategy is trying to generate ongoing returns through staking, rather than simply holding GRAM and waiting for its price to rise.
However, staking rewards cannot fully offset paper losses caused by a falling token price. In particular, the cost basis of the company’s holdings is significantly higher than their valuation at the end of the reporting period, so future GRAM price movements will continue to directly affect its balance sheet.
Another change worth watching: the company is gradually scaling back its existing business and shifting its strategic focus to crypto assets and the TON ecosystem. As of September 30, the company had approximately $25.3 million in cash and cash equivalents, and no long-term debt.
The real test for companies stockpiling crypto has never been simply how much they can buy, but whether they can withstand the pressure of falling prices.
Do you think TON Strategy’s approach of holding and staking GRAM on such a large scale is a long-term bet on the TON ecosystem, or does it tie the company’s fate too closely to a single asset?
#TON #TONStrategy #GRAM #美国现货xrpetf周流出创8个月新高
The publicly traded company betting on the TON ecosystem has delivered a mixed earnings report.
According to TON Strategy’s third-quarter 2026 results, the company recorded a net loss attributable to common shareholders of approximately $23.97 million, compared with a net profit of approximately $83.27 million in the same period last year.
But there’s one key reason behind the loss: GRAM price volatility.
As of September 30, TON Strategy held approximately 235 million GRAM, with a fair value of around $348 million at the time, while its cost basis was approximately $745 million. In the third quarter, the company recorded a loss of approximately $27.23 million due to changes in the fair value of its digital assets.
At the same time, the company did generate some revenue. Third-quarter revenue was approximately $13.07 million, mainly from GRAM staking rewards, with a quarterly staking yield of approximately 4.09%. The company staked around 233 million GRAM and received approximately 9.43 million GRAM in rewards.
This shows that TON Strategy is trying to generate ongoing returns through staking, rather than simply holding GRAM and waiting for its price to rise.
However, staking rewards cannot fully offset paper losses caused by a falling token price. In particular, the cost basis of the company’s holdings is significantly higher than their valuation at the end of the reporting period, so future GRAM price movements will continue to directly affect its balance sheet.
Another change worth watching: the company is gradually scaling back its existing business and shifting its strategic focus to crypto assets and the TON ecosystem. As of September 30, the company had approximately $25.3 million in cash and cash equivalents, and no long-term debt.
The real test for companies stockpiling crypto has never been simply how much they can buy, but whether they can withstand the pressure of falling prices.
Do you think TON Strategy’s approach of holding and staking GRAM on such a large scale is a long-term bet on the TON ecosystem, or does it tie the company’s fate too closely to a single asset?
#TON #TONStrategy #GRAM #美国现货xrpetf周流出创8个月新高