TON Strategy Reports $13.1M in Q3 Revenue as GRAM Holdings Reach $348.5M

11. Nov 2026 Posted by Bailey S. on News

Nasdaq-listed TON Strategy Company (TONX) reported $13.1 million in revenue for the third quarter of 2026, mainly generated through staking rewards from its GRAM treasury. Revenue declined from $15 million in the previous quarter.

The company held approximately 235.1 million GRAM tokens, formerly known as Toncoin, valued at $348.5 million at the end of September. Around 232.9 million GRAM were actively staked, producing an annualized gross yield of approximately 16%.

Alongside its treasury operations, TON Strategy repurchased $5.7 million worth of its own shares during the quarter. The company also contributed to upgrades across The Open Network (TON) as Telegram started introducing its native Gram Wallet.

Despite generating staking income, TON Strategy reported a net loss of $24 million for the quarter. The result included a $27.2 million unrealized loss on its GRAM holdings, reversing the $82.8 million unrealized gain recorded in the second quarter.

The company also said it continued working toward a more efficient cost structure following the shutdown of operations inherited from VERB Technology.

GRAM remains connected to several Telegram services, including advertising payments and creator monetization. The TON blockchain also supports the ownership and transfer of digital assets such as Telegram usernames and gifts.

TON Strategy believes Telegram's expanded native wallet access could make GRAM more accessible for payments and transfers while creating opportunities for additional consumer applications built on the network.

The company's transition into a digital asset treasury business began in August 2025. Under a deal led by Kingsway Capital, the former Verb Technology Company raised approximately $560 million to establish a treasury focused on TON's native cryptocurrency.

Earlier this year, the token was rebranded from Toncoin to GRAM, bringing back the original name proposed in Telegram's initial white paper.

Telegram's wallet rollout has already shown early signs of adoption. Founder Pavel Durov said on Monday that more than 700,000 self-custodial wallets had been created on Telegram within 48 hours. He added that wallets can become active automatically when users receive GRAM tokens.

TONX shares gained 2.4% during Tuesday's trading session, bringing their year-to-date increase to approximately 25%.