SkyAI Inc. (SKYA), a publicly traded company with a Solana treasury, disclosed in an SEC filing that it sold 135,399 SOL tokens for approximately $12.47 million during the first half of 2026. The sale, executed at an average price of $92.09 per SOL against a cost basis of $200.79, locked in a realized loss of $14.72 million, representing a 54% markdown. The company also reported $84.34 million in unrealized digital-commodity losses for the six-month period, reflecting the declining fair value of its holdings rather than cash outflows.
As of June 30, SkyAI’s digital-commodity portfolio was carried at $144.28 million, down from $250.11 million at the end of 2025. The balance includes 1,494,026 liquid SOL and 509,650 locked SOL, with the locked portion scheduled to release through 2028. Despite the asset sales, working capital slipped to $12.63 million from $14.19 million, and the company’s operating business generated only $192,780 in net revenue from its Sologard product line, supplemented by $5.46 million in staking revenue. Selling, general, and administrative expenses reached $10.22 million, and $5 million in related-party consulting fees further strained finances.
Management stated that future capital needs may be met through additional SOL sales, equity issuance, or traditional financing until operations become self-sustaining. The company ended the period with $12.07 million in cash and no margin debt, after repaying a $3.08 million margin loan. However, its remaining SOL stash, worth roughly $151 million at recent prices, remains highly sensitive to market movements. With Solana trading around $77.06—down over 48% year-over-year—the treasury’s value could decline further, and the disclosure leaves the door open for more selling pressure.
