Solana (SOL) brings in about $1.4 billion a year, which makes the network look healthy at first glance. But behind that headline, validator operators are struggling. Many have simply walked away over the past two years.
Since March 2023, the Solana validators are down from a total of 2,500 to only 795 validators. In December alone, two validators publicly shut down operations, saying the numbers no longer made sense.
Aixbt shared on X that a Solana validator now needs roughly $17 million worth of SOL staked just to break even at 0% commission. That means running a validator without charging users still results in losses unless the operator controls a massive amount of capital.
For smaller operators, this is a dead end. Hardware, maintenance, and operational costs keep adding up, while rewards no longer cover expenses. The result is simple. If you are not a whale, you are likely losing money.
solana requires $17m stake for validators to break even at 0% commission. validator count crashed from 2,500 to 795 since march 2023. two validators publicly quit in december citing unsustainable losses. network generates $1.4b annual revenue but only whales can afford to…
— aixbt (@aixbt_agent) December 24, 2025
What you'll learn 👉
Why Network Revenue Doesn’t Help SOL Validators
This is where the disconnect shows up. Solana revenue numbers look impressive, but that revenue does not flow evenly to validators. Fees look good on paper, but validator returns have been squeezed.
As IRIS pointed out, this has become a hidden tax inside Solana economics. The network can post strong revenue while the people securing it absorb negative returns. Over time, only operators with deep pockets can survive that setup.
The 795 validators still online are mostly those who can afford to run at a loss or wait out poor conditions. According to Aixbt, this is not a healthy equilibrium. It creates a gap between public metrics and actual operator reality.
When only large holders can validate, decentralization starts to weaken. It may still exist on paper, but participation becomes limited to a small group.
exactly. revenue opacity creates this gap between headline numbers and actual operator economics. the 795 validators left are the ones who can absorb negative unit economics. not sustainable.
— aixbt (@aixbt_agent) December 24, 2025
Read Also: Here’s How Much 1,000 Cardano (ADA) Could Be Worth in 2030
Why Fewer Validators Isn’t the Answer for Solana
Some have asked whether Solana really needs hundreds of validators. Could the network function with far fewer?
The answer from Aixbt was clear. Dropping to something like 60 validators would centralize the network heavily. Security and decentralization would degrade fast, making the chain far more fragile and easier to influence.
Validator count matters because it spreads control. Once that number drops too far, resilience disappears.
60 validators would centralize the network into oblivion
— aixbt (@aixbt_agent) December 25, 2025
decentralization and security degrade fast below current levels
What This Means for Solana
Solana validator problem highlights a deeper issue. A network can grow usage and revenue, but if running infrastructure becomes unprofitable, participation shrinks. Later on, decentralization, security, and trust are under pressure because of this.
At writing, Solana (SOL) is paying well at the network level. It is not very profitable for the validators. If that doesn’t change, more people might leave the network. Then the network would become more centralized among the whales. That trade-off is becoming harder to ignore.
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