Sharps Technology ($STMS) has released its first comprehensive financial update regarding the income generated from staking its significant holdings of Solana ($SOL) tokens. The report covers the period following the implementation of their treasury management strategy designed to leverage staking yields.
Management confirmed that the staking program successfully generated a net annualized yield of approximately 6.2% over the initial reporting period. This activity resulted in the company accruing additional SOL tokens, thereby increasing the size of its total digital asset treasury.
The update, however, came amidst ongoing volatility in the cryptocurrency market, particularly affecting the SOL token, which has experienced a substantial price slump from its previous highs due to macro factors and recent market liquidations.
Sharps Technology acknowledged the inherent pressure on the dollar value of the treasury, noting that while the yield is positive in terms of token accrual, the total fiat valuation of the assets faced significant headwinds. The company reiterated its long-term conviction in the Solana ecosystem and confirmed that the staking strategy remains crucial, as increasing the total number of tokens helps mitigate temporary price depreciation risks. Sharps confirmed it intends to continue staking its treasury assets indefinitely, viewing the yield as a key defensive measure against market fluctuations.
Source: Sharps Technology posts first update on Solana staking income amid SOL price slump
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