TON Strategy reported an approximately 17% annualized gross staking yield for the second quarter after receiving 9,438,177 Gram, the TON blockchain's native token formerly known as Toncoin, and recorded $15.019 million in staking revenue. The filing also showed that earnings were not matched by cash generation: pre-tax income from continuing operations reached $83.535 million largely because of an $82.8 million net fair value gain, while operating income was $479,000 and continuing operations used $10.640 million of operating cash in the first half of 2026. Its SEC (U.S. securities regulator)-filed release said the company ended June with nearly $29 million of cash and restricted cash and no debt. TON Strategy said rewards increased mainly because Catchain 2.0 (a TON network upgrade) cut mainnet block times from about 2.5 seconds to roughly 400 milliseconds, increasing block production and potential validator issuance, although future returns still depend on protocol settings, staked amounts and Gram's market price.