{"id":11722,"date":"2026-08-10T17:28:07","date_gmt":"2026-08-10T17:28:07","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=11722"},"modified":"2026-08-10T17:28:07","modified_gmt":"2026-08-10T17:28:07","slug":"working-capital-fell-after-a-12-47m-sol-sale","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=11722","title":{"rendered":"working capital fell after a $12.47M SOL sale"},"content":{"rendered":"<p><\/p>\n<div>\n<p>SkyAI Inc. (SKYA), a Solana treasury company, said in a recent SEC filing that it sold 135,399 SOL for $12.47 million during the first half of 2026 and may use more token sales to help fund the business until its operations generate enough cash.<\/p>\n<p>SkyAI also made an $84.34 million unrealized digital-commodity loss for the six months ended June 30. The loss reflected changes in fair value rather than cash leaving the business. Its second-quarter portion was $13.49 million, while net cash used in continuing operations was about $5.67 million for the half.<\/p>\n<p>SkyAI\u2019s digital-commodity holdings were carried at $144.28 million on June 30, down from $250.11 million at the end of 2025. The balance also reflected staking receipts and transactions, including SOL sold at an average of $92.09 against an average cost basis of $200.79. Those sales generated a $14.72 million realized loss.<\/p>\n<div class=\"cs-article-embed\">\n<div class=\"cs-article-embed__media\"> <img loading=\"lazy\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/06\/solana-falling-1024x576.jpg\" alt=\"Why is Solana falling despite ETF inflows and booming activity?\" loading=\"lazy\" decoding=\"async\"\/><img loading=\"lazy\" class=\"lazyload\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/06\/solana-falling-1024x576.jpg\" alt=\"Why is Solana falling despite ETF inflows and booming activity?\" loading=\"lazy\" decoding=\"async\"\/><\/div>\n<div class=\"cs-article-embed__body\"> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Why is Solana falling despite ETF inflows and booming activity?<\/h3>\n<p>Solana ETF inflows and network activity are rising, but inflation, weak fee burn, and macro pressure still weigh on SOL.<\/p>\n<p> <span class=\"cs-article-embed__meta-item\">Jun 11, 2026<\/span> <span class=\"cs-article-embed__meta-divider\">\u00b7<\/span> <span class=\"cs-article-embed__meta-item\">Gino Matos<\/span><\/p>\n<\/div><\/div>\n<h2>SkyAI&#8217;s treasury sales did not close its operating gap<\/h2>\n<p>Working capital fell to $12.63 million from $14.19 million over the same six-month period despite the SOL proceeds. The cash-flow picture extended beyond operating burn: SkyAI also repaid a $3.08 million margin loan and spent $2.01 million on share repurchases.<\/p>\n<p>The operating business was not yet producing enough cash to close that gap. First-half net revenue from SkyAI\u2019s Sologard product line was $192,780, while net staking revenue was $5.46 million. Selling, general and administrative expenses reached $10.22 million. The company separately reported $5 million in related-party consulting fees.<\/p>\n<p>Management said future working-capital needs may be met through a combination of selling part of the SOL treasury, issuing equity or obtaining traditional financing until operations can support themselves. The disclosure also makes another SOL sale possible.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-553482\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-e56c744a-c036-45b6-8446-554b5fc75dce.png\" alt=\"SkyAI Solana treasury funding dashboard comparing its unrealized loss, working-capital decline, cash reserve and financing options in the first half of 2026.\" width=\"720\" height=\"899\"\/><img decoding=\"async\" class=\"lazyload aligncenter wp-image-553482\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-e56c744a-c036-45b6-8446-554b5fc75dce.png\" alt=\"SkyAI Solana treasury funding dashboard comparing its unrealized loss, working-capital decline, cash reserve and financing options in the first half of 2026.\" width=\"720\" height=\"899\"\/><\/p>\n<div class=\"cs-article-embed\">\n<div class=\"cs-article-embed__media\"> <img loading=\"lazy\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/strategy-bitcoin-collapse-michael-saylor-editorial-1024x576.jpg\" alt=\"Strategy faces $8.3 billion Bitcoin Q2 loss as Saylor sells over $200M in BTC\" loading=\"lazy\" decoding=\"async\"\/><img loading=\"lazy\" class=\"lazyload\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/strategy-bitcoin-collapse-michael-saylor-editorial-1024x576.jpg\" alt=\"Strategy faces $8.3 billion Bitcoin Q2 loss as Saylor sells over $200M in BTC\" loading=\"lazy\" decoding=\"async\"\/><\/div>\n<div class=\"cs-article-embed__body\"> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Strategy faces $8.3 billion Bitcoin Q2 loss as Saylor sells over $200M in BTC<\/h3>\n<p>Michael Saylor\u2019s company sold Bitcoin to help fund preferred-stock payouts, testing a model built on years of accumulation.<\/p>\n<p> <span class=\"cs-article-embed__meta-item\">Jul 7, 2026<\/span> <span class=\"cs-article-embed__meta-divider\">\u00b7<\/span> <span class=\"cs-article-embed__meta-item\">Oluwapelumi Adejumo<\/span><\/p>\n<\/div><\/div>\n<div id=\"cs-inline-newsletter-6a7a005130399\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\">CryptoSlate Daily Brief<\/span><\/p>\n<h3 class=\"cs-inline-newsletter__title\">Daily signals, zero noise.<\/h3>\n<p class=\"cs-inline-newsletter__copy\">Market-moving headlines and context delivered every morning in one tight read.<\/p>\n<p> <span><i class=\"fa-regular fa-bolt\" aria-hidden=\"true\"\/> 5-minute digest<\/span> <span><i class=\"fa-regular fa-star\" aria-hidden=\"true\"\/> 100k+ readers<\/span><\/p>\n<\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p class=\"cs-inline-newsletter__privacy\">Free. No spam. Unsubscribe any time.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<p> <i class=\"fa-regular fa-circle-check\" aria-hidden=\"true\"\/> <span>You\u2019re subscribed. Welcome aboard.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>SkyAI ended June with $12.07 million in cash and positive working capital after repaying the margin loan. Management described the company as debt-free, although its balance sheet still showed $3.07 million of liabilities, including trade, accrued, warrant and lease obligations.<\/p>\n<p>The company also reported 1,494,026 liquid SOL and 509,650 locked SOL, with the locked balance scheduled to release through the end of 2028. Substantially all of the treasury was staked during the period, making the token balance a large funding reserve but not the same as cash already available for expenses.<\/p>\n<div class=\"cs-article-embed\">\n<div class=\"cs-article-embed__media\"> <img loading=\"lazy\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/bitmine-ethereum-yield-pressure-options-fees-1024x576.jpg\" alt=\"BitMine made $46 million staking Ethereum then lost twice that betting on it\" loading=\"lazy\" decoding=\"async\"\/><img loading=\"lazy\" class=\"lazyload\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/bitmine-ethereum-yield-pressure-options-fees-1024x576.jpg\" alt=\"BitMine made $46 million staking Ethereum then lost twice that betting on it\" loading=\"lazy\" decoding=\"async\"\/><\/div>\n<div class=\"cs-article-embed__body\"> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">BitMine made $46 million staking Ethereum then lost twice that betting on it<\/h3>\n<p>Staking generated nearly all quarterly revenue as the company issued billions of dollars in stock to finance a treasury sitting $8.2 billion below cost.<\/p>\n<p> <span class=\"cs-article-embed__meta-item\">Jul 15, 2026<\/span> <span class=\"cs-article-embed__meta-divider\">\u00b7<\/span> <span class=\"cs-article-embed__meta-item\">Oluwapelumi Adejumo<\/span><\/p>\n<\/div><\/div>\n<p>The market backdrop keeps pressure on that reserve. CryptoSlate\u2019s Solana market data showed SOL at $77.06 on Aug. 9, down 21.28% over 90 days and 48.93% over one year. The filing therefore points to a recurring funding choice, but its cash balance, positive working capital, and repaid margin loan do not indicate an immediate, leverage-driven SOL sale.<\/p>\n<\/div>\n<p>Digital Asset Treasuries,Earnings,Featured,SOL,SolanaSOL,Solana#working #capital #fell #12.47M #SOL #sale1786382887<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SkyAI Inc. (SKYA), a Solana treasury company, said in a recent SEC filing that it sold 135,399 SOL for $12.47 million during the first half of 2026 and may use more token sales to help fund the business until its operations generate enough cash. SkyAI also made an $84.34 million unrealized digital-commodity loss for the<\/p>\n","protected":false},"author":1,"featured_media":11723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[6163,1648,2626,1449,5043,152,2686],"class_list":["post-11722","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-12-47m","tag-capital","tag-fell","tag-sale","tag-sol","tag-solana","tag-working"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>working capital fell after a $12.47M SOL sale - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"SkyAI&#039;s working capital fell to $12.63 million after a $12.47 million SOL sale, while future token sales or other financing remain possible.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=11722\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"working capital fell after a $12.47M SOL sale\" \/>\n<meta property=\"og:description\" content=\"SkyAI&#039;s working capital fell to $12.63 million after a $12.47 million SOL sale, while future token sales or other financing remain possible.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=11722\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-10T17:28:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/skyai-solana-parachute-crisis.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11722\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=11722\",\"name\":\"working capital fell after a $12.47M SOL sale - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11722#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11722#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/skyai-solana-parachute-crisis.jpg\",\"datePublished\":\"2026-08-10T17:28:07+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"SkyAI&#039;s working capital fell to $12.63 million after a $12.47 million SOL sale, while future token sales or other financing remain possible.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11722#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=11722\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11722#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/skyai-solana-parachute-crisis.jpg\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/skyai-solana-parachute-crisis.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11722#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"working capital fell after a $12.47M SOL sale\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; 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