Sol Strategies Increases SOL Holdings by CAD $7.3M, Now Holds 214,342 SOL

Sol Strategies Inc., a publicly traded Canadian company specializing in investments and infrastructure within the Solana blockchain ecosystem, has further expanded its holdings of SOL tokens between January 31, 2025, and February 7, 2025.

According to a new press release, the company has acquired an additional 24,374 SOL tokens for approximately CAD 7.3 million (USD 5.05 million).

🚀 Sol Strategies (CSE: HODL; OTCQX: CYFRF) just acquired 24,374 SOL, increasing our total SOL holdings by $7.3M CAD to 214,342 SOL.

Our goal remains clear: accumulate, stake, and support the Solana network.

More details: https://t.co/q92Ympdofg

— Sol Strategies (CSE: HODL | OTCQX: CYFRF) (@solstrategies_) February 10, 2025

The average purchase price for the newly acquired SOL was CAD $298.64 (USD $207.33), including fees and expenses.

As of February 7, 2025, Sol Strategies and its subsidiaries collectively hold approximately 214,342 SOL, acquired at a total purchase cost of around CAD $55.6 million (USD $39.5 million), averaging CAD $259.37 (USD $184.36) per SOL.

The current market value of these holdings stands at CAD $58.9 million (USD $41.2 million), based on the closing price of USD $192.2 per SOL on February 7, 2025.

A Strategic Expansion in the Solana Ecosystem

Sol Strategies’ continued investment reflects the growing confidence in the blockchain’s future. The company, formerly known as Cypherpunk Holdings Inc., has transitioned into a Solana-focused entity.

By doing this, it will leverage the network’s high-speed, low-cost transactions and expanding ecosystem of decentralized applications (dApps) to position itself at the center of the network.

With this latest purchase, Sol Strategies expects to benefit from the network’s growing institutional adoption and the increasing number of projects building on Solana’s infrastructure.

The acquisition also positions the company advantageously as Solana’s ecosystem continues to attract developers and enterprises seeking scalability and efficiency in blockchain technology.

Sol Strategies’ aggressive accumulation of SOL tokens reflects a broader trend in both institutional and retail interest in the Solana blockchain.

Sol Strategies Believes In A Bigger Solana

In January, Sol Strategies drew $4 million from its amended CAD $25 million credit facility, which was provided by Chairman Antanas Guoga.

🚀 @solstrategies_ has secured a CAD $25 million credit facility to boost investments in the Solana ecosystem.#SolStrategies #Solanahttps://t.co/Cng7wfCdBU

— Cryptonews.com (@cryptonews) January 7, 2025

The funds were also used to acquire Solana tokens for ecosystem support, including DeFi protocols, validator operations, and liquidity provision.

The unsecured facility accrues 5% annual interest, with repayment terms subject to lender discretion.

Despite a 9.9% stock drop in the past five days, Sol Strategies’ stock has surged over 3000% in the past six months. The firm’s aggressive expansion into the Solana ecosystem has outpaced Solana’s own 50% rise.

So far this year, its stock has climbed from $2.83, increasing by over 40%. The company is also eyeing further developments in 2025, including a potential Nasdaq listing.

While Sol Strategies is growing, SOL has declined in the past 14 days. It has dropped by 14.4%, although it is up 7.8% over the past month.

Despite the fluctuation in SOL prices, a recent report shows Solana’s strong ecosystem growth. Total app revenues surged to $840 million in Q4 2024 from $268 million in Q3.

According to DefiLlama, Solana is now the second-largest network by total value locked (TVL), which has climbed to $9.38 billion.

Additionally, the network saw a 171% increase in average daily fee payers and a 33% rise in liquid staking, reflecting sustained adoption despite market volatility.

Looking ahead, Sol Strategies remains committed to tracking Solana’s growth and expanding its presence in the evolving blockchain industry, highlighting the ongoing potential for further developments and investor interest.