Solana News Today: Sol Strategies' DAT++ Model Drives 16% Annual Treasury Growth

Sol Strategies Inc. reported record-breaking progress in its digital asset treasury operations, reaching CAD 1 billion in delegated Solana (SOL) ahead of its anticipated NASDAQ listing. This milestone, highlighted in the company’s Q3 2025 earnings call, underscores the firm’s growing influence in the Solana ecosystem and its strategic positioning as an institutional-grade infrastructure provider.

According to the call transcript, Sol Strategies’ Solana treasury increased to $90 million during the quarter, up from $48 million. Total assets rose to $164 million, with liabilities also increasing to $62 million. The company also reported staking and validator income of $3 million and comprehensive income of $900,000. Adjusted EBITDA for the quarter stood at $800,000, demonstrating the company’s strong operational momentum despite a drop in stock price by 3.12% following the earnings announcement.

The firm has launched a white-label validator business, which is already showing strong adoption. For instance, Solana Mobile, a key partner, uses the company’s validator for its new phone, the Seeker, which has attracted over 150,000 pre-orders. The company’s validator node, Lane, has maintained perfect 100% uptime for over a year, contributing to the confidence of 7,000 unique wallets that have staked assets with Sol Strategies.

CEO Leah Wald emphasized the company’s role in building the Solana ecosystem, stating, “We’re not just holding Solana, we’re building it.” The company’s DAT++ model, which pairs organic staking yields with validator infrastructure revenues, allows it to compound treasury holdings at roughly 16% annually, nearly double the rate of peers. This model, along with strategic partnerships and a dual-revenue stream, has positioned Sol Strategies as a leading player in the digital asset treasury sector.

The company is also advancing its U.S. listing strategy, with progress made on NASDAQ uplisting. It has completed a stock consolidation and filed a shelf registration, providing flexibility for capital-raising opportunities. Notably, the business is self-sustaining through validator revenues and staking yields, allowing Sol Strategies to focus on expanding its Solana treasury and accelerating growth when the right opportunities arise.

Sol Strategies continues to face challenges, including rising liabilities and market volatility. However, its focus on cost efficiency, regulatory clarity, and strategic expansion through M&A and validator acquisitions positions it for long-term success. Analysts note that the firm’s DAT++ model and institutional-grade infrastructure differentiate it in a rapidly evolving market.

Source:

[1] Earnings call transcript: Sol Strategies Q3 2025 sees stock ... (https://www.investing.com/news/transcripts/earnings-call-transcript-sol-strategies-q3-2025-sees-stock-dip-93CH-4211753)

[2] Sol Strategies Inc (CYFRD) Q3 2025 Earnings Call Highlights (https://www.gurufocus.com/news/3081024/sol-strategies-inc-cyfrd-q3-2025-earnings-call-highlights-strong-revenue-growth-and-strategic-partnerships-propel-future-prospects)