SOL Strategies (HODL), a Canadian firm specializing in infrastructure on the Solana network, has recently announced a significant acquisition of 24,000 SOL tokens in March, costing approximately C$199 ($139.8) each. This strategic purchase totals around $3.37 million, bringing the company’s total SOL holdings to an impressive 267,151 tokens.
The majority of SOL held by the company—approximately 265,295 tokens—is currently staked across four validators operated by SOL Strategies, as detailed in their latest operational update. However, the firm has faced challenges in the market; since early March, its share price has decreased by approximately 25%, paralleled by a 27% drop in the value of SOL during the same timeframe.
Since the beginning of the Trump presidency, SOL Strategies has seen a staggering decline of 67% in its stock price, while Solana has experienced a 58% decrease, reflecting broader market trends affecting cryptocurrency valuations.
Under the leadership of Leah Wald, a former co-founder of Valkyrie Investments, SOL Strategies has been actively expanding its validator infrastructure, extending beyond Solana to include other Proof-of-Stake chains such as Sui (SUI), Monad (MONAD), and ARCH (ARCH). Validators play a crucial role in securing these blockchain networks by staking their respective tokens and processing transactions, thereby earning rewards in the process.
In a noteworthy move in March, SOL Strategies acquired three new validator nodes, including one from Laine and the analytics platform Stakewiz, for approximately $24.5 million. This acquisition more than doubled the amount of SOL staked on the company’s infrastructure, increasing from 1.66 million to over 3.35 million tokens.
In addition to its SOL investments, the company also holds 3.211 bitcoin. Nonetheless, SOL Strategies remains steadfastly focused on the growth and development of the Solana ecosystem, navigating the challenges of the current market while positioning itself for future opportunities.
