Digital asset treasury company TON Strategy (Nasdaq: TONX) on Tuesday reported first-quarter 2026 results, disclosing approximately 221.9 million $TON held with a fair value of about $272.0 million and a net loss of $(91.0) million.
The company said its holdings represented approximately 4.29% of all Toncoin, citing Tonstat data. Of the total, about 221.2 million units were staked, with Toncoin staked through its infrastructure accounting for roughly 26.18% of the network.
Total revenue was $5.3 million, including approximately $3.0 million from staking activities, which produced about 2.2 million $TON during the quarter. Total costs and expenses were $7.8 million, resulting in a $(3.9) million operating loss.
The larger net loss was driven by an $(87.9) million unrealised loss on crypto assets, reflecting fair value changes in Toncoin during the period. The company finished Q1 with about $35.0 million in cash and restricted cash and no debt.
Post-quarter staking yield increase
After the quarter closed, TON’s Catchain 2.0 consensus upgrade went live in April. The company said block times fell from approximately 2.5 seconds to about 400 milliseconds, throughput rose by an estimated 10x, and transaction fees dropped roughly 6x to about $0.0005.
Gross staking yields rose to 1.39% in April from 0.34% in March, representing approximately 16.7% annualised.
Senior fintech executive Kevin Wilson was appointed CEO effective May 4. Wilson previously served as Managing Director at Integral Development Corp. and spent 17 years at Citi.
“My focus is on translating that foundation into a better understood public company platform for Toncoin exposure and shareholder value,” Wilson said.
The company estimated that its March-end holdings would have been worth approximately $433.3 million based on the value of Toncoin as of May 6.
