SOL Strategies Files $1B Shelf Prospectus, Holds $100M in SOL Tokens
Toronto-based SOL Strategies, previously known as Cypherpunk Holdings Inc., has filed a preliminary $1 billion shelf prospectus. The company, now focused solely on Solana, holds approximately CAD $100 million worth of SOL tokens in its treasury.
SOL Strategies, under the leadership of interim CEO Michael Hubbard since Leah Wald's departure in October 2025, has made a significant shift in its investment strategy. The company, which renamed itself in 2024 and listed on Nasdaq under the ticker STKE in September 2025, now holds 420,355 SOL tokens, worth around CAD $100 million.
This strategic pivot is evident in their recent acquisition of 26,478 SOL for $4.7 million, aligning their treasury '100% with validator growth and long-term investment in the Solana ecosystem'. The filing supports this growth strategy, providing flexibility for future capital access.
The company positions itself as a provider of infrastructure solutions for the Solana ecosystem, with a mission to 'invest in, support, and provide infrastructure for the Solana blockchain ecosystem'. The filing allows the company to issue various securities, including common shares, warrants, debt securities, and units over the prospectus validity period.
With its treasury valued at approximately CAD $100 million in SOL tokens, SOL Strategies is well-positioned to continue its aggressive accumulation strategy focused entirely on Solana. The company's filing provides flexibility for future capital access, supporting its growth strategy and commitment to the Solana ecosystem.
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