The publicly traded company SOL Strategies Inc. launches a $500 million 'buy, buy, buy' model, becoming the next BTC for MicroStrategy

On April 23, 2025, the Canadian publicly traded company SOL Strategies Inc. announced that it had signed an independent agreement with ATW Partners on the same day to establish a convertible note financing mechanism of up to $500 million, with the funds specifically used for purchasing SOL tokens.

These tokens will be staked through the validating nodes operated directly by SOL Strategies, and the generated profits will be shared between the two parties. According to the financing mechanism released by the company, the first batch will issue convertible notes with a total principal of

$20 million, and subsequently, up to $480 million can be drawn in batches based on specific conditions. The first delivery is expected to be completed around May 1, 2025, with the exact timing depending on the normal delivery conditions.

Under this innovative structure, the interest on the notes will be paid in SOL tokens, calculated based on the staking earnings generated by the SOL tokens purchased through this mechanism and staked by SOL Strategies.