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SOL Strategies Inc., a Canadian company focused on developing the Solana blockchain ecosystem, has taken a bold step by purchasing 122,524 SOL tokens worth approximately 18.25 million USD. According to an announcement posted on their website, the acquisition follows the initial closing of its 20 million USD convertible bond with ATW Partners, finalized on May 1, 2025.

This investment, made at an average price of 148.96 USD per SOL, is part of a broader strategy by the company to strengthen its presence in the Solana ecosystem. The funds come from a recently closed financial agreement, and the entire first tranche has already been deployed in accumulating SOL.

"With the closing of our initial 20 million dollar tranche from the ATW facility, we are acquiring SOL to expand our validator operations and position in the ecosystem. These purchases directly strengthen our strategic holdings in SOL and the technological innovations of Solana," said Leah Wald, CEO of SOL Strategies.