SOL Strategies Boosts Stake in Solana with $3.37M Purchase

SOL Strategies, a Canadian company operating infrastructure on the Solana network, announced that it purchased 24,000 SOL tokens in March. The acquisition was made at an average cost of approximately C$199 ($139.8) per token, totaling around $3.37 million. This purchase increased the firm’s total SOL holdings to 267,151 tokens.

According to the company’s latest operational update, nearly all of its SOL tokens—approximately 265,295 tokens—are staked across four validators that it operates. Since early March, the company’s share price has decreased by roughly 25%, while the price of SOL has dropped by 27% over the same period.

Since the beginning of the Trump presidency, SOL Strategies’ stock has declined by 67%, while Solana has fallen by 58%. The company, led by Leah Wald, a former co-founder of Valkyrie Investments, has been actively expanding its validator infrastructure. This expansion includes not only the Solana network but also other Proof-of-Stake chains such as Sui (SUI), Monad (MONAD), and ARCH (ARCH). Validators play a crucial role in securing these networks by staking their respective tokens and processing transactions, earning rewards in return.

In March, the firm acquired three validator nodes, including one from Laine and the analytics platform Stakewiz, for approximately $24.5 million. This deal more than doubled the amount of SOL staked on the company’s infrastructure, from 1.66 million to over 3.35 million tokens. Additionally, the company owns 3.211 bitcoin, although its primary focus remains on the Solana ecosystem.