SOL Strategies, a Canadian-listed company focused on advancing the Solana blockchain ecosystem, has deepened its commitment to the network with a fresh $20 million acquisition of Solana.
The company announced the purchase on Tuesday, May 6, confirming that the funds came from the first tranche of its $500 million convertible note facility with ATW Partners.
122K SOL Tokens Acquired at Strategic Price
According to SOL Strategies, the company purchased 122,524 SOL tokens at an average price of $148.96, totaling approximately $18.25 million. The remaining funds are likely allocated to fees, infrastructure, or additional staking activities.
“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,” said Leah Wald, CEO of SOL Strategies.
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She added that the acquisition supports the firm’s three-pillar strategy:
- Enterprise-grade validators
- Strategic SOL holdings
- Solana technology innovation
Building on Recent Momentum
The purchase follows SOL Strategies’ successful closing of its first $20 million funding tranche, announced on May 1. This marks a major milestone in the company’s broader plan to use the $500 million facility to ramp up its Solana ecosystem investments.
Earlier in the year, between January 31 and February 7, SOL Strategies acquired 24,374 SOL for roughly $5 million. By April 7, the firm held 267,151 SOL, valued at around $38.4 million.
Beyond Solana: Exposure to Bitcoin and Staking ETF Ecosystem
While Solana remains its primary focus, SOL Strategies also holds a modest position in Bitcoin. As of April 7, the company’s website reported a 3.211 BTC holding, worth approximately CA$419,340 (~US$304,000).
Additionally, the firm plays a key role in the exchange-traded fund (ETF) landscape, serving as the staking provider for 3iQ’s Solana Staking ETF. Its infrastructure supports over 3 million staked SOL, underscoring its operational scale and long-term commitment to the Solana network.
