Sol Strategies Expands Validator Presence, Acquires More SOL

Sol Methods Inc., beforehand doing enterprise as Cypherpunk Holdings Inc., is making headway within the Solana blockchain ecosystem. The Canada-based firm is increase its validator operations, boosting its SOL holdings, and weeding by means of one government change.

After buying OrangeFin Ventures and Cogent Crypto, Sol Strategies has seen spectacular progress within the Solana community. In January alone, the corporate’s complete SOL delegation throughout its three mainnet validators grew from 1.57 million to 1.77 million SOL, a rise of approx. 200,000 SOL, with 166,000 SOL coming from new third-party delegations.

Sol Methods expands validator operations, including 212,764 SOL in Jan. & deploying Firedancer for next-level pace & effectivity!

21,200 SOL have been additionally added to our holdings

Full particulars: https://t.co/9RGYpsuLfZ

— Sol Methods (CSE: HODL | OTCQX: CYFRF) (@solstrategies_) February 4, 2025

It has additionally applied the Firedancer validator shopper on two of its Solana validators, boosting transaction pace, community reliability, and effectivity. By being one of many first to undertake this new know-how, Sol Methods is reinforcing its management place in Solana validation.

Between January 19 and January 31, 2025, the corporate acquired 40,300 extra SOLs for roughly CAD$14.3 million (US$9.9 million), at a median worth of CAD$355.77 per SOL (US$246.53). Moreover, it accomplished a $2.5 million second tranche of a personal placement of convertible debentures, settled with a fee of 6,564.47 SOL at a median worth of CAD$380.84 per SOL (US$265.65).

By the tip of January 2025, Sol Methods and its subsidiaries held 189,968 SOL, acquired for roughly CAD$48.7 million. With SOL’s closing worth on the finish of January, these holdings are actually valued at about CAD$63.7 million.

In a management shift, Moe Adham, Director and Chief Funding Officer, stepped down on January 30, 2025, for private causes. Adham, who has been with the corporate since 2018, has performed a vital position in its progress.

Though he’s stepping away from his official position, he’ll proceed advising the corporate on strategic initiatives through the transition. He expressed pleasure within the firm’s achievements however cited his household’s transfer to Tokyo as the primary purpose for his resolution.

Tony Guoga, Chairman of the Board, added, “With the current addition of Ungad Chadda to the Board in late 2024, we’re well-positioned to proceed executing our imaginative and prescient.”