SOL Strategies Soars on $500M Credit Facility to Boost Solana Investment
Toronto-listed firm to expand SOL holdings and validator operations
Key Highlights:
SOL Strategies secured a convertible note facility worth up to $500 million to deepen its Solana-based investments.
The firm’s stock surged up to 18% after the news, ending the day with a 7% gain.
The funding will go toward acquiring more SOL tokens and expanding the company’s Solana validator infrastructure.
SOL Strategies (HODL), a digital asset firm listed on the Toronto Stock Exchange, announced it has obtained a convertible note facility of up to $500 million aimed at enhancing its investment and operational footprint within the Solana ecosystem.
According to the company's official release, the capital will be allocated specifically for purchasing Solana (SOL) tokens and scaling its validator business. Following the announcement, HODL shares climbed to a high of C$2.16—an 18% spike—before settling with a 7% gain over the previous close.
“This is the largest financing facility of its kind in the Solana ecosystem—and the first ever directly linked to staking yield,” said CEO Leah Wald. “Each dollar deployed is immediately yield-generating and accretive to both our balance sheet and validator operations. This innovative structure is also highly scalable.”
The first $20 million tranche of the financing, arranged with New York-based private equity firm ATW Partners, is expected to close by May 1. Interest on the convertible notes will be paid in SOL, calculated as up to 85% of the staking rewards from SOL staked via SOL Strategies' validators.
The company is also weighing a potential listing on the Nasdaq exchange in the United States to broaden its investor base—mirroring the recent move by Galaxy Digital, which is set for a Nasdaq debut next month.
Led by Leah Wald, who also co-founded Valkyrie Investments, SOL Strategies has championed the adaptation of Michael Saylor’s Bitcoin treasury strategy to Solana. As of March 2025, the firm held 267,151 SOL tokens—worth over $40 million at current prices—and expanded its validator footprint by acquiring three additional businesses. This brought the total amount of SOL staked with its validators to 3,351,617 SOL, valued at over $500 million.
Following SOL Strategies’ lead, U.S.-listed real estate firm Janover, now operating as DeFi Development Corp, has also embraced a similar Solana-based treasury and validator strategy.