Solana (HSDT) Capital Expenditures (2017 - 2025)
Solana's (HSDT) quarterly Capital Expenditures came in at $153.3 million in Q4 2025, down 42.67% quarter-over-quarter from $267.4 million in Q3 2025.
Analysis
Solana (HSDT) Capital Expenditures (2017 - 2025) Analysis & Trends
Solana has disclosed Capital Expenditures across 9 years of filings, most recently posting $153.3 million for Q4 2025.
- In Q4 2025, Capital Expenditures changed N/A year-over-year to $153.3 million; the TTM figure through Dec 2025 stood at $420.7 million (up 8413480.0% YoY), while the FY2025 annual figure was $420.7 million, up 8413480.0% from the prior year.
- Capital Expenditures came in at $153.3 million for Q4 2025 at Solana, down from $267.4 million in the prior quarter.
- In the past five years, Capital Expenditures ranged from a high of $267.4 million in Q3 2025 to a low of -$2000.0 in Q4 2022.
- Average Capital Expenditures over 5 years is $30.1 million, with a median of $6500.0 recorded in 2022.
- Year-over-year, Capital Expenditures slumped 140.0% in 2022 and surged 850.0% in 2023.
- Over 5 years, Capital Expenditures stood at $5000.0 in 2021, then tumbled by 140.0% to -$2000.0 in 2022, then surged by 250.0% to $3000.0 in 2023, then jumped by 66.67% to $5000.0 in 2024, then jumped by 3065820.0% to $153.3 million in 2025.
- Per Business Quant data, the three most recent Capital Expenditures figures were $153.3 million in Q4 2025, $267.4 million in Q3 2025, and $5000.0 in Q1 2024.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capital Expenditures (Qtr) |
|---|---|---|---|---|---|
| 1 | Circle Internet | 23.15 Bn | 21.42 Bn | 288.85 Mn | 20.16 Mn |
| 2 | Galaxy Digital | 4.86 Bn | 3.30 Bn | 8.38 Bn | 398.79 Mn |
| 3 | Gemini Space Station | 545.12 Mn | 356.50 Mn | - | -372,000.00 |
| 4 | Solana | 176.26 Mn | 172.62 Mn | 2.45 Mn | - |
| 5 | Empery Digital | 85.00 Mn | 85.00 Mn | -68,184.00 | 2.00 |
| 6 | Metalpha Technology Holding | 42.47 Mn | 38.53 Mn | - | - |
| 7 | Fold Holdings | 29.04 Mn | 637,726.97 | 5.36 Mn | 273,153.00 |
| 8 | Amber International Holding | 16.89 Mn | -17.36 Mn | 11.06 Mn | - |
| 9 | Fabric.AI | 10.22 Mn | -11.45 Mn | - | - |
| 10 | CEA Industries | 5.16 Mn | 2.10 Mn | 2.64 Mn | 205.61 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 153.30 Mn |
| Sep 30, 2025 | 267.38 Mn |
| Mar 31, 2024 | 5,000.00 |
| Dec 31, 2023 | 3,000.00 |
| Sep 30, 2023 | 6,000.00 |
| Jun 30, 2023 | 1,000.00 |
| Mar 31, 2023 | 19,000.00 |
| Dec 31, 2022 | -2,000.00 |
| Sep 30, 2022 | 7,000.00 |
| Jun 30, 2022 | 10,000.00 |
| Mar 31, 2022 | 2,000.00 |
| Dec 31, 2021 | 5,000.00 |
| Sep 30, 2021 | 30,000.00 |
| Mar 31, 2021 | 19,000.00 |
| Dec 31, 2020 | 49,000.00 |
| Sep 30, 2020 | 7,000.00 |
| Mar 31, 2020 | 7,000.00 |
| Dec 31, 2019 | 18,000.00 |
| Sep 30, 2019 | 56,000.00 |
| Jun 30, 2019 | 43,000.00 |