Sol Strategies adds 12,456 SOL, expanding its SOL holdings value to CAD $64.2M

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.

🔗

— 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.

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