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Investing.com -- Solana Company (NASDAQ:HSDT) shares surged 8.5% in after-hours trading Tuesday after the company reported third quarter results highlighting its new digital asset treasury (DAT) strategy focused on acquiring and holding Solana tokens.
The company reported third quarter revenue of $700,000, which included first-time staking rewards income of $342,000 from its digital asset operations. Solana posted a loss of -$32.89 per share for the quarter ended September 30, 2025, as the company transitions toward its blockchain-focused business model.
Solana’s financial position was significantly bolstered by a recently closed $508 million partnership with Pantera Capital and Summer Capital to launch its SOL treasury strategy. The company ended the quarter with $124 million in cash and $350.2 million in digital assets at fair value, for a combined total of $474.2 million.
"Solana Company’s digital treasury strategy and the recent PIPE transaction are significant milestones for the Company and its shareholders," said Joseph Chee, Executive Chairman. "With the added commitment and support of Pantera and Summer, we believe that we are positioned well to accelerate growth and drive value."
The company’s operating expenses increased to $36 million compared to $3.9 million in the prior year period, largely due to a $30.5 million unrealized loss on digital assets resulting from changes in fair value of holdings at quarter end.
Solana has also issued cash-exercise warrants allowing for a potential additional $750 million capital raise, launched an ATM program for flexible fundraising, and approved a $100 million stock repurchase program.
The company continues to advance its medical technology business, announcing positive clinical data for its PoNS device and submitting an FDA 510(k) application for label expansion in stroke treatment.
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