#SolanaTreasuryQ1SPSUp108 with fully converted SOL per share (SPS), which surged 108% year-over-year to 0.0670 as of May 13. This growth reflects the accumulation expansion of Solana by the company, backed by validator operations, staking profit strategies, and the deployment of on-chain treasury.

Currently, the firm holds about 2.29 million SOL and equivalents, and continues to position itself as a Solana-focused treasury company. Management emphasized that their approach differs from traditional Bitcoin treasury models, highlighting that Solana offers native earning opportunities through staking and participation in DeFi. The company also confirmed its long-term goals, including 0.075 SPS by June 2026 and 1.0 SPS by 2028.

Despite strong growth in SOL metrics per share, the company reported significant financial losses in the first quarter. Revenue surged to $2.66 million, but this was overshadowed by a net loss of $83.4 million, mainly due to the drop in the value of its digital assets. This highlights the volatility risk associated with crypto treasury strategies.

The company is also actively managing its balance, particularly by buying back convertible notes at a discounted price, which it described as part of its broader capital strategy. It is also deploying a portion of its treasury into on-chain protocols and partnerships with validators, trying to generate additional yield beyond passive holding.

The report shows a dual face: strong growth in crypto influence and strategic accumulation of Solana, but also significant profit volatility due to market price fluctuations.$SOL #SolanaTreasuryQ1SPSUp108