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Sol Strategies, a publicly traded Canadian company formerly called ‘Cypherpunk Holdings,’ completed the purchase of an additional 12,456 $SOL worth approximately CAD $3.59M (inclusive of fees and expenses) at an average price of CAD $288.48 per $SOL. The firm’s $SOL acquisition between February 7th and February 15th brought its total $SOL holdings to 226,798 $SOL worth CAD $59.2M at CAD $260.94 per $SOL.
Sol Strategies’ total $SOL holdings are currently valued at CAD $64.2M (inclusive of fees and expenses) based on the February 14th closing price of CAD $199.94 per $SOL. The company’s accumulation of $SOL is part of its ongoing growth initiative according to Newsfile Corp.
On February 10th, Sol Strategies disclosed that it had ramped up its $SOL accumulation by purchasing an additional 24,374 $SOL between January 31 and February 7. The acquisition, valued at approximately CAD $7.3M (USD $5.05M), was made at an average price of CAD $298.64 per $SOL (USD $207.33). The purchase followed Sol Strategies’ earlier acquisition of 40,300 $SOL in late January for around CAD $14.3M (USD $9.9M).
Sol Strategies accumulates more $SOL to boost its growth
Sol Strategies Expands $SOL Holdings
We’ve added 12,456 $SOL, increasing our total to 226,798 $SOL—a CAD $3.6M boost to our treasury! 📈
Our commitment to the Solana ecosystem remains strong as we scale our validator operations and strategic investments.
🔗 Read more:…
— Sol Strategies (CSE: HODL | OTCQX: CYFRF) (@solstrategies_) February 18, 2025
The Canadian company announced its latest acquisition of 12,456K $SOL between February 7 and February 15, as the company invested more than CAD $3.5 million to boost its holdings and overall growth. The company had previously accumulated 24,374 $SOL worth CAD $7.3M between January 31 and February 7 and 40,300 $SOL in late January for around CAD $14.3M. Sol Strategies also secured 6,564 $SOL at an average price of $265.65 per $SOL through a private placement of convertible debenture units, further boosting its growth.
As of February 7th, Sol Strategies and its subsidiaries held over 214K $SOL purchased at a total price of CAD $55.6 million (USD $39.5M). The company also increased its $SOL delegation from 1.57 million to 1.77 million $SOL, with 166,000 $SOL from third-party delegations, following its acquisitions of Orangefin Ventures and Cogent Crypto.
As of January 31, Sol Strategies and its subsidiaries held an aggregate of nearly 189,968 SOLs worth approximately CAD $48.7 million at an average purchase price of around CAD $256.21 per $SOL. Based on the closing price of $SOL on January 31, the total value, inclusive of fees and expenses, went up to CAD $63.7 million.
Sol Strategies announces ‘letter of intent’ to acquire validators
The Canadian company recently announced that it entered into a non-binding letter of intent to acquire one of the Solana ecosystem’s largest validators. On February 14th, the company disclosed that the ‘Proposed Transaction’ would increase the amount of $SOL delegated to Sol Strategies-owned Solana validators to over 2.9 million $SOL worth approximately CAD $800 million. The increase of over 1.2 million $SOL enabled Sol Strategies to earn revenue on this delegation.
The CAD $48.7 million (USD $34 million) total consideration payable pursuant to the Proposed Transaction included CAD $14.3 million (USD $10 million) in cash payable at close, CAD $17.2 million (USD $12 million) in Sol Strategies shares issued at closing, and CAD $17.2 million (USD $12 million) in Sol Strategies common shares issued on the one-year anniversary of the closing date.
In December 2024, Sol Strategies also announced its plans to acquire three validators, effectively boosting its delegated $SOL by 554,714, valued at CAD $174.7 million and projecting a CAD $2.6 million income. The acquisition brought the total amount of $SOL delegated to Sol Strategies’ validators to 1,493,378 $SOL, valued at CAD $470.4 million.