$SOL Strategies, a Toronto-based digital asset firm, has acquired 122,524 Solana ($SOL ) tokens for $18.25 million at an average price of $148.96 per token. This purchase was funded by the initial $20 million tranche of a planned $500 million convertible note facility secured with ATW Partners
Despite a 10% drop in its share price following the announcement, Sol Strategies' stock has risen nearly 80% over the past two weeks, reflecting investor confidence in its strategic focus on expanding validator operations and $SOL holdings.
This move underscores Sol Strategies' commitment to the Solana ecosystem, positioning the company to capitalize on the blockchain's growth and scalability.