This corporate Solana treasury dumped $12.5M of SOL at a 54% loss – and its balance sheet still shrank
SkyAI, a Solana treasury company, disclosed that it sold 135,399 SOL for $12.47 million in the first half of 2026 and may sell more tokens to fund operations until the business is cash-flow positive. For the six months ended June 30, it reported an $84.34 million unrealized digital-commodity loss, driven by fair-value declines, plus a $14.72 million realized loss on SOL sales. Digital-commodity holdings fell to $144.28 million from $250.11 million at year-end 2025. Operating cash use was about $5.67 million, while Sologard revenue was only $192,780 and staking revenue was $5.46 million against $10.22 million of SG&A expenses, plus $5 million of related-party consulting fees. Working capital declined to $12.63 million, and the company also repaid a $3.08 million margin loan and spent $2.01 million on share buybacks. SkyAI ended June with $12.07 million in cash, 1,494,026 liquid SOL, and 509,650 locked SOL.
