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SkyAI sold $12.47M of SOL in 2026, balance sheet still shrank
The Solana treasury firm recorded a $84.3 million unrealized digital-commodity loss for the first half and ended June with $144.3 million in SOL holdings, down from $250.1 million at end-2025.
SkyAI Inc., a Solana treasury company, said in an SEC filing that it sold 135,399 SOL for $12.47 million during the first half of 2026. Management indicated it may continue using token sales and other financing options until operations generate enough cash to support the business.
The filing also showed an $84.34 million unrealized digital-commodity loss for the six months ended June 30. The company said the figure reflects changes in fair value rather than cash leaving the business, and it reported realized losses on the SOL it sold, including a $14.72 million realized loss linked to average sale prices versus cost basis.
As of June 30, SkyAI carried digital-commodity holdings of $144.28 million, down from $250.11 million at the end of 2025. Its working capital fell to $12.63 million from $14.19 million, despite the SOL proceeds, and net cash used in continuing operations was about $5.67 million for the half.
SkyAI ended June with $12.07 million in cash and described itself as debt-free, while still reporting $3.07 million of liabilities, including trade, accrued, warrant, and lease obligations. The company repaid a $3.08 million margin loan, spent $2.01 million on share repurchases, and reported first-half net revenue of $192,780 from its Sologard product line and $5.46 million in net staking revenue.
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