Strategic SOL Purchases Expand Validator Operations
Following a $500 million convertible note financing with ATW Partners on May 1, **Sol Strategies** has allocated its initial $20 million to acquiring 122,524 SOL for $18.25 million ($148.96 per token).
"With our first $20M tranche from ATW, we’re executing as promised—strategically acquiring SOL to scale validator operations and ecosystem influence," stated CEO Leah Wald.
The company now holds 391,782 SOL (~$56M), bolstering its validator network.
DeFi Dev Corp’s Aggressive SOL Accumulation
DeFi Dev Corp recently purchased 82,404.5 SOL ($11.2M), expanding its holdings to **400,091 SOL** (~$58.5M)—the largest publicly disclosed SOL treasury.
Key developments:
- Filed a $1B shelf offering with the SEC for flexible funding.
- Acquiring a validator business with 500K delegated SOL for $3.5M.
👉 Explore how top firms leverage SOL for growth
Public Companies Embrace Solana Treasuries
Upexi, a consumer brand, raised $100M** (led by Sands Capital Ventures) to build a **SOL treasury**, purchasing **45K SOL** ($6.7M) and reserving $81M** for future buys.
Why the Rush?
- October deadline for U.S. Solana ETF decisions.
- Anticipated regulatory shifts under a pro-crypto SEC leadership.
- Public companies positioning for institutional inflows post-ETF approval.
FAQ
1. Why are firms like Sol Strategies buying SOL?
They aim to strengthen validator operations and capitalize on Solana’s ecosystem growth, leveraging SOL’s staking rewards and appreciation potential.
2. What’s the significance of DeFi Dev Corp’s shelf offering?
It provides funding flexibility (debt/equity) for additional SOL acquisitions or validator expansions.
3. How might a Solana ETF impact these holdings?
Approval could trigger institutional demand, driving SOL’s price and validator profitability.