SkyAI Dumps $12.5M SOL at Big Loss as Treasury Shrinks

SkyAI Inc., a company known for holding a large Solana treasury, revealed in a recent SEC filing that it sold 135,399 SOL for $12.47 million during the first half of 2026. The tokens were sold at an average price of $92.09, which was far below their average cost basis of $200.79. This transaction resulted in a realized loss of $14.72 million for the firm.

Even with the token sales, the company struggled to cover its daily expenses. Working capital dropped from $14.19 million to $12.63 million over the same six month period. SkyAI used some of the funds to repay a $3.08 million margin loan and spent $2.01 million on share repurchases. Meanwhile, core business revenue remained low, bringing in just $192,780 from its Sologard product line, while staking revenue added $5.46 million against operating expenses of over $10 million.

Despite the asset sales, management stated that future funding might still rely on more token sales, equity issues, or traditional financing until business operations turn a profit. SkyAI finished June holding over 1.4 million liquid SOL and about 509,000 locked tokens, with most of the treasury actively staked. Traders will be watching closely to see if ongoing market pressure leads to more corporate token liquidations.