Sol Strategies Reports Strong Validator Growth, Expansion of SOL Holdings and Resignation of Director
Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) reports significant growth in its Solana validator operations and SOL holdings. The company's three mainnet Solana validators increased total SOL delegation from 1.57M to 1.77M SOL in January, including 166,000 new third-party delegations. The company successfully deployed the Firedancer validator client on two validators, enhancing network performance.
Between January 19-31, 2025, Sol Strategies purchased 40,300 SOL for approximately CAD$14.3M at an average price of CAD$355.77 per SOL. The company completed a CAD$2.5M convertible debentures private placement, satisfied by 6,564.47 SOL. As of January 31, 2025, the company held approximately 189,968 SOL, valued at CAD$63.7M based on closing prices.
Director and Chief Investment Officer Moe Adham resigned effective January 30, 2025, due to personal circumstances related to family relocation to Tokyo, but will continue advising on strategic initiatives.
Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) riporta una crescita significativa nelle sue operazioni di validatore Solana e nelle partecipazioni SOL. I tre validatori mainnet di Solana dell'azienda hanno aumentato la delega totale di SOL da 1,57M a 1,77M SOL a gennaio, comprese 166.000 nuove deleghe di terze parti. L'azienda ha implementato con successo il client del validatore Firedancer su due validatori, migliorando le prestazioni della rete.
Tra il 19 e il 31 gennaio 2025, Sol Strategies ha acquistato 40.300 SOL per circa 14,3 milioni di CAD a un prezzo medio di 355,77 CAD per SOL. L'azienda ha completato un collocamento privato di obbligazioni convertibili da 2,5 milioni di CAD, soddisfatto con 6.564,47 SOL. A partire dal 31 gennaio 2025, l'azienda deteneva circa 189.968 SOL, valutati 63,7 milioni di CAD in base ai prezzi di chiusura.
Il Direttore e Chief Investment Officer Moe Adham si è dimesso con effetto dal 30 gennaio 2025, a causa di circostanze personali legate al trasferimento della famiglia a Tokyo, ma continuerà a consigliare sulle iniziative strategiche.
Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) informa sobre un crecimiento significativo en sus operaciones de validador de Solana y en sus tenencias de SOL. Los tres validadores mainnet de Solana de la empresa aumentaron la delegación total de SOL de 1,57M a 1,77M SOL en enero, incluyendo 166,000 nuevas delegaciones de terceros. La empresa implementó con éxito el cliente validador Firedancer en dos validadores, mejorando el rendimiento de la red.
Entre el 19 y el 31 de enero de 2025, Sol Strategies compró 40,300 SOL por aproximadamente 14.3 millones CAD a un precio promedio de 355.77 CAD por SOL. La empresa completó una colocación privada de debentures convertibles por 2.5 millones CAD, satisfecha con 6,564.47 SOL. A partir del 31 de enero de 2025, la empresa tenía aproximadamente 189,968 SOL, valorados en 63.7 millones CAD según los precios de cierre.
El Director y Chief Investment Officer Moe Adham renunció con efecto a partir del 30 de enero de 2025, debido a circunstancias personales relacionadas con el traslado de su familia a Tokio, pero continuará asesorando sobre iniciativas estratégicas.
Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF)는 Solana 검증기 운영 및 SOL 보유량에서 상당한 성장을 보고했습니다. 회사의 세 개의 메인넷 Solana 검증기는 1.57M에서 1.77M SOL로 총 SOL 위임을 증가시켰으며, 이에는 166,000개의 새로운 제3자 위임이 포함됩니다. 이 회사는 두 개의 검증기에 Firedancer 검증기 클라이언트를 성공적으로 배포하여 네트워크 성능을 향상시켰습니다.
2025년 1월 19일부터 31일 사이에 Sol Strategies는 약 1,430만 캐나다 달러에 40,300 SOL을 평균 355.77 CAD의 가격으로 구매했습니다. 이 회사는 256만 캐나다 달러의 전환 가능한 채권을 사모하는 완료했으며, 이는 6,564.47 SOL로 충족되었습니다. 2025년 1월 31일 현재 이 회사는 약 189,968 SOL을 보유하고 있으며, 마감가를 기준으로 6370만 캐나다 달러의 가치가 있습니다.
이사이자 최고투자책임자(Moe Adham)는 2025년 1월 30일자로 가족의 도쿄 이사와 관련된 개인적인 사유로 사임했지만 전략적 이니셔티브에 대한 자문을 계속할 것입니다.
Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) fait état d'une croissance significative de ses opérations de validateur Solana et de ses avoirs en SOL. Les trois validateurs mainnet de l'entreprise ont augmenté la délégation totale de SOL de 1,57 million à 1,77 million SOL en janvier, y compris 166 000 nouvelles délégations de tiers. L'entreprise a réussi à déployer le client de validateur Firedancer sur deux validateurs, améliorant ainsi les performances du réseau.
Entre le 19 et le 31 janvier 2025, Sol Strategies a acheté 40 300 SOL pour environ 14,3 millions de CAD à un prix moyen de 355,77 CAD par SOL. L'entreprise a terminé un placement privé d'obligations convertibles de 2,5 millions de CAD, réglé par 6 564,47 SOL. Au 31 janvier 2025, l'entreprise détenait environ 189 968 SOL, évalués à 63,7 millions de CAD sur la base des prix de clôture.
Le directeur et directeur des investissements Moe Adham a démissionné à compter du 30 janvier 2025, en raison de circonstances personnelles liées à la relocalisation de sa famille à Tokyo, mais continuera à conseiller sur des initiatives stratégiques.
Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) berichtet über ein signifikantes Wachstum in seinen Solana-Validatoroperationen und SOL-Beständen. Die drei Mainnet-Validatoren der Firma erhöhten die Gesamtdelgation von SOL von 1,57M auf 1,77M SOL im Januar, einschließlich 166.000 neuer Drittdelegationen. Das Unternehmen hat erfolgreich den Firedancer Validator-Client auf zwei Validatoren bereitgestellt, was die Netzwerkleistung verbessert.
Zwischen dem 19. und 31. Januar 2025 kaufte Sol Strategies 40.300 SOL für ungefähr 14,3 Millionen CAD zu einem durchschnittlichen Preis von 355,77 CAD pro SOL. Das Unternehmen schloss eine Privatplatzierung von wandelbaren Anleihen in Höhe von 2,5 Millionen CAD ab, die mit 6.564,47 SOL erfüllt wurde. Zum 31. Januar 2025 hielt das Unternehmen etwa 189.968 SOL, die zum Zeitpunkt des Schlusskurses einen Wert von 63,7 Millionen CAD hatten.
Direktor und Chief Investment Officer Moe Adham trat mit Wirkung zum 30. Januar 2025 zurück, aufgrund persönlicher Umstände im Zusammenhang mit dem Umzug seiner Familie nach Tokio, wird jedoch weiterhin strategische Initiativen beraten.
- SOL delegation increased by 200,000 SOL (12.7%) in January
- Successfully deployed advanced Firedancer validator client
- Significant SOL holdings increase to 189,968 SOL
- Current SOL holdings show unrealized gain of ~CAD$15M (30.8%)
- Loss of key executive with CIO resignation
- Additional debt through convertible debentures issuance
Toronto, Ontario--(Newsfile Corp. - February 3, 2025) - Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) (formerly, Cypherpunk Holdings Inc.) (the "Company"), a publicly traded, Canadian holding company that invests in the Solana blockchain and ecosystem, is pleased to provide an update on its recent operational milestones and strategic initiatives. Following its acquisition of OrangeFin Ventures and Cogent Crypto, Sol Strategies has successfully expanded its validator operations, increased SOL delegation, deployed the next-generation Firedancer validator client, and made further strategic purchases of SOL. The Company also announces a leadership transition, as Moe Adham steps down from the Board of Directors.
Validation Milestones
January marks the first full month of validator operations after its acquisition of OrangeFin Ventures and Cogent Crypto. During the month of January, the Company saw the total SOL delegation across its three mainnet Solana validators grow from 1.57M SOL to approximately 1.77M SOL, of an increase of approximately 200,000 SOL, of which 166,000 SOL are new delegations from third parties.
The company also successfully deployed the new Firedancer validator client on two of its Solana Validators, further solidifying its position as a leader in the Solana Validation sector. For Solana, the launch of Firedancer is a pivotal moment, addressing key areas of improvement in transactions per second, network resilience and resource efficiency. Having been in development since 2022, the launch of Firedancer demonstrates the continued technological superiority of the Solana network. The performance of Firedancer has already exceeded the Company's expectations. Sol Strategies is proud to be one of the first validators running this client on the Solana Network and will continue to monitor its performance for further deployment.
SOL purchases
Between January 19th, 2025 and January 31, 2025, the Company completed the purchase of an additional 40,300 SOL for approximately CAD
The Company also completed the
As of January 31, 2025, Sol Strategies and its subsidiaries held an aggregate of approximately 189,968 SOL, acquired at a total purchase price of approximately
Management Updates
The company announces that Mr. Moe Adham, a director and Chief Investment Officer, has resigned effective January 30, 2025, due to personal circumstances. Since joining the Board of Directors in 2018, Mr. Adham has played an integral role in its growth and success. He will continue to advise the Company on strategic initiatives in the near term.
Mr. Adham stated, "While I am saddened to depart from Sol Strategies, I am immensely proud of the Company's achievements under Leah Wald's leadership as CEO. I am confident that the Company is in capable hands and will continue to thrive in the Solana ecosystem. My family's relocation to Tokyo has necessitated this decision, as the time zone difference would hinder my ability to effectively support the business. I have the utmost confidence in the management and direction of Sol Strategies and could not be prouder of the team. I am pleased to continue advising the Company during this transition to ensure the continued excellence of execution."
Tony Guoga, Chairman of the Board, added, "On behalf of the Board and the entire Company, I want to sincerely thank Moe for his years of dedication and leadership. It has been a pleasure working with him, and we wish him and his family all the best in their move to Tokyo. Sol Strategies has never been in a stronger position from both a management and market perspective, and we remain fully confident in our trajectory for 2025 and beyond. With the recent addition of Ungad Chadda to the Board in late 2024, we are well-positioned to continue executing our vision."
About Sol Strategies
Sol Strategies is a publicly traded holding company committed to the continued development of the Solana blockchain and ecosystem through its private equity and financial markets activities. Sol Strategies seeks to leverage investment opportunities in staking rewards and Solana-based projects, allowing shareholders to indirectly participate in decentralized finance. The Company is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker HODL and on the OTC market under the ticker CYFRF.
To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company's related material documents regarding the Company change report may be obtained under the Company's SEDAR+ profile at www.sedarplus.ca.
Cautionary Note Regarding Forward-Looking Information:
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved".
Forward-looking statements in this news release include statements regarding the company's future investing plans and staking plans. There is no assurance that the Company's plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.
There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the "Foundation"), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.
None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.
Officer/Director Contact:
Doug Harris
Chief Financial Officer
doug@solstrategies.io
Tel: 416-480-2488
SOURCE: Sol Strategies
Media contact: sol@kcsa.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239380
FAQ
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