Solana Company reports $3.4M Q3 revenue as staking business expands

Solana Company's 11 November earnings release shows Q3 revenue of $3.4m versus $697k a year earlier, mainly from staking. It reported about 2.4m SOL across holding categories, with 30,800 SOL of staking rewards restaked. Pacific Backbone had about 1.3m SOL delegated, including roughly 1m from third parties, so treasury and client stake should be kept separate. The article notes that staking increases are denominated in SOL, so fiat value depends on price, and that share issuance and cash costs also matter. Watch retention of delegated stake, fee income and cash expenditure in future reports.

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