According to ChainCatcher, publicly traded company Sol Strategies (stock code: CYFRF, HODL.CN) announced on Monday that it will invest 25 million Canadian dollars in the Solana ecosystem through unsecured credit facilities.
The unsecured revolving credit facility will accrue interest at a rate of 5% per annum, compounded daily. Sol Strategies has drawn 4 million Canadian dollars of principal and plans to use the remaining funds to make large-scale purchases of Solana tokens to support its staking operations and acquisitions. According to the statement, it must utilize the entire credit line by January 6, 2027.
The company, headquartered in Toronto, is the latest initiative to become a major Solana staker and ecosystem participant after Cypherpunk Holdings rebranded.
In July last year, Cypherpunk Holdings appointed Leah Wald as CEO, shifting its focus to the Solana ecosystem. The company has sold several investments, including its stake in Animoca Brands, which was previously its second-largest holding after Bitcoin, and it has also directly invested in SOL and Solana validators.
As of December 31, 2024, Sol Strategies has staked over 1.5 million SOL (worth approximately 450 million Canadian dollars) in its validator operations. This includes over 140,000 SOL owned by the company.
In December last year, the company announced its intention to seek a listing on NASDAQ. From Wald taking over as CEO to the end of last year, the price of HODL rose by over 2,000%. (The Block)
