Canadian investment company Sol Strategies announced securing a CAD $25 million credit facility to boost its investment in Solana's native token (SOL).
Strategic Move to Strengthen Solana’s Staking Operations
On January 7, 2025, Sol Strategies disclosed drawing part of its new credit facility, provided by chairman Antanas Guoga. The funds will be used to increase SOL holdings and enhance staking operations, aiming to become a leading validator in the Solana network.
Flexible Financing for Expansion
The credit facility offers a 5% annual interest rate, allowing Sol Strategies flexibility in its investment approach. The company has used $4 million of the credit to purchase more SOL tokens. By the end of 2024, Sol Strategies staked over 1.5 million SOL tokens, generating rewards that enhance its holdings.
Sol Strategies’ Rebranding and Focus on Solana
In late 2024, Cypherpunk Holdings rebranded to Sol Strategies to reflect its new focus on the Solana blockchain. Under Leah Wald's guidance, it sold non-core assets to invest in Solana, achieving a 1,950% increase in asset value over the past year.
Sol Strategies continues its growth, strengthening its role in the Solana ecosystem, and is considering a potential Nasdaq listing to attract further investment.
