Sol Strategies secures C$25M credit line to invest in Solana ecosystem

PANews January 8 news, according to The Block, Canadian listed company Sol Strategies announced on Monday that it will invest CAD 25 million in the Solana ecosystem through an unsecured credit line. This is the latest step in the company’s transformation into one of Solana’s largest stakers and ecosystem players. According to the announcement, the unsecured revolving credit facility has an annual interest rate of 5%, calculated on a daily basis. Wald said the financing package provides shareholders with the most favorable structure. The company has withdrawn $4 million in principal and plans to use the remaining funds to purchase Solana tokens on a large scale to support staking operations and acquisitions. The entire credit line is available until January 6, 2027.

Previously, the company was called Cypherpunk Holdings and had invested extensively in the encryption industry. Later, in July this year, it hired Leah Wald as CEO and shifted its focus to the Solana ecosystem. To focus its resources, Sol Strategies sold multiple investments, including its stake in its second-largest holding, Animoca Brands, and directly invested in SOL tokens and Solana validation nodes. As of December 31, 2024, Sol Strategies had more than 1.5 million SOL tokens (valued at approximately C$450 million) staked through its validator operations, including 140,000 SOL held by the company.