TON Strategy earned $15 million staking Gram while operations burned $10.6 million in cash
TON Strategy reported a 17% annualized gross staking yield for Q2, helped by the Catchain 2.0 upgrade that sharply increased block production and token rewards. The company recognized more than $15 million of staking revenue after receiving 9,438,177 Gram, but most reported profit came from an $82.8 million fair-value gain on digital assets rather than operations. Pre-tax income from continuing operations was $83.5 million, while operating income was only $479,000. For the first half of 2026, continuing operations used $10.6 million of operating cash. The company ended June with nearly $29 million in cash and restricted cash and no debt, reducing near-term liquidity pressure. Its cash-flow statement shows that token accruals and fair-value marks do not necessarily translate into immediate cash, and about $19 million of non-cash Gram consideration was removed in the reconciliation. As of June 30, TON Strategy held 230.5 million Gram, with 229.9 million staked.
