TON Strategy, a Nasdaq-listed digital-asset treasury company focused on the TON ecosystem, reported $15.019 million in second-quarter staking revenue after receiving 9,438,177 Gram in rewards and said annualized gross staking yield reached about 17% following the TON network's Catchain 2.0 upgrade. The latest filing also underscored a gap between token-denominated income and cash generation: second-quarter pre-tax income from continuing operations totaled $83.535 million, driven largely by an $82.8 million net fair-value gain on digital assets, while operating income from continuing operations was $479,000 and continuing operations used $10.640 million of operating cash in the first half of 2026. TON Strategy ended June with nearly $29 million of cash and restricted cash and said it had no debt, but the filing showed staking rewards were recognized as non-cash consideration and had not yet covered the company's cash requirements across the verified period.