TON Strategy reports $13.1M in Q3 revenue from GRAM staking as net loss hits $24M

The digital asset treasury firm earned staking rewards on roughly 232.9 million staked GRAM tokens, but an unrealized loss on its holdings wiped out the gains and then some. TON Strategy Company, the Nasdaq-listed digital asset treasury firm trading under the ticker TONX, posted $13.1 million in revenue for the third quarter of 2026, driven almost entirely by staking rewards on its GRAM holdings. The number sounds decent in isolation. Then comes the net loss of $24 million, and the picture gets more complicated. The loss was largely accounting-driven: a $27.2 million unrealized loss on its GRAM positions, a sharp reversal from the $82.8 million unrealized gain the company recorded in Q2. Markets giveth, markets taketh away.

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