TON Strategy Posts $15 Million in Q2 Staking Revenue, Holds 230.5 Million GRAM

TON Strategy, a digital-asset treasury company focused on the TON ecosystem, posted $15 million in staking revenue in the second quarter and held about 230.5 million GRAM at the end of June.

According to a GlobeNewswire release on August 11, the company earned about 9.4 million GRAM in staking rewards during the quarter. Staking revenue jumped from $3 million in the first quarter, and annualized staking yield was about 17%.

TON Strategy attributed the increase in staking income to the TON network's Catchain 2.0 upgrade. The company said the upgrade cut block generation time to about 0.4 seconds from roughly 2.5 seconds, boosting validator rewards and the network's staking yield.

As of the end of June, TON Strategy held about 230.5 million GRAM, of which about 229.9 million GRAM was staked. As of August 4, those holdings represented about 4.4% of total GRAM supply, while its staked tokens accounted for about 35% of total assets staked across the network.

Second-quarter operating profit was $500,000, compared with an operating loss of $3.7 million in the first quarter. Pretax income from continuing operations totaled $83.5 million, reflecting an $82.8 million valuation gain from an increase in the fair value of its GRAM holdings.

The fair value of the company's digital assets rose to about $369.5 million at the end of June from $272 million at the end of March. Cash and restricted cash totaled $29 million, and the company had no debt.

TON Strategy is also winding down legacy businesses and restructuring its cost base. It said it expects to reduce annual cash operating expenses by about $4 million through vendor contract terminations and cuts to staffing and outsourcing costs.

Separately, the TON blockchain's native token was renamed Gram from Toncoin on June 8 following a community decision. Its ticker was also changed to GRAM.