SOL Strategies has revealed a recent purchase of 122,524 SOL, valued at approximately $20 million. The Canadian investment company’s latest acquisition further solidifies its position in the Solana market.
📢 SOL Strategies has acquired 122,524 $SOL at an average price of $148.96, deploying the full $20M initial tranche from our recently closed ATW facility.
Building the institutional backbone of @solana, one block at a time. $HODL $CYFRFRead more: https://t.co/5ChdbDfTNY pic.twitter.com/s7RfrIPbP2
— SOL Strategies (CSE: HODL | OTCQX: CYFRF) (@solstrategies_) May 6, 2025
SOL Strategies Puts $500M Fund to Work
SOL Strategies’ recent acquisition of $20 million worth of Solana tokens is a direct follow-up on the $500 million funding initiative the platform had designated explicitly for investing in the Solana ecosystem.
Leah Wald, Chief Executive Officer of SOL Strategies, commented:
“With the closing of our initial $20 million tranche from the ATW facility, we’re executing exactly as promised, strategically acquiring SOL to expand our validator operations and ecosystem position.” He continued, “These purchases directly strengthen our three-pillar strategy of enterprise grade validators, strategic SOL holdings, and Solana technology innovation.”
Last month, the Canadian publicly traded company partnered with ATW Partners, an investment firm based in New York, to successfully issue a $500 million convertible note offering.
With SOL Strategies’ recent purchase, the implementation of the deal has commenced. The agreement between the two platforms was scheduled to begin with an initial investment of $20 million and was anticipated to be finalized on or around May 1st.
Additionally, up to $480 million in further funding is accessible through subsequent drawdowns, contingent upon meeting standard conditions. Once the $500 million is completely exhausted, the company plans to stake the acquired SOL coins via its validator pool, distributing a portion of the staking rewards to its partner, ATW Partners.
Notably, SOL Strategies has stated that it will pay a significant majority, 85%, of the staking rewards to its partner as interest payments on the notes.
Solana Ecosystem Sees Increased Investment
The Solana ecosystem is currently experiencing a surge in investments from various firms. In a similar development, RockawayX, a crypto venture firm based in Prague, raised $125 million, backed by targeted investments from institutional players and crypto-centric investors, to support Solana-based startups.
RockawayX plans to use most of the funds to support seed-stage Solana startups. At the same time, the rest will go into liquid assets and yield-generating opportunities, including staking Solana tokens to accrue rewards.
