STRETEGIES SOL (CSE: HODL), a Canadian company listed on the Blockchain Solana, has acquired more than $ 18 million in ground tokens using the product of a recent financing round.
The company said in a press release Bought 122,524 soil at an average price of $ 148.96 each, deployment of the first tranche of $ 20 million in full of convertible factories greater by $ 500 million guaranteed from the Atw Partners Investment Company.
The agreement, announced on May 1, marks the first major movement under the change of brand of the company of Cypherpunk Holdings with Sol Strategies.
CEO Leah Wald said in a statement:
“With the fence of our initial tranche of $ 20 million in the ATW installation, we execute exactly as promised – strategically acquire soil to extend our validator operations and our ecosystem position. These purchases directly strengthen our strategy to three pillars of business quality validators, strategic soil strategic and innovation of Solana technology. ”
The purchase strengthens the presence of ground floor in the validators of Solana, where the entities help to manage the blockchain and to obtain rewards of implementation through its algorithm of consensus of proof of bet.
By increasing its soil holdings, the company widens its technical imprint and is more positioned to gain yield and influence in the ecosystem.
The trend of the accumulation of Solana treasure increases
A similar move came last month of Janover, a fintech focused on real estate is now renamed as a Development Corp.
STRATEGIES SOLD shares slipped 10.3% at the start of negotiations at CA $ 2.61 after update, down compared to a recent higher level above CA 3.30 $. Despite the drop, the stock remains almost 24% in the last month.
The price of the soil itself is down approximately 1.6% in the last period from 24 hours to $ 142.7 in a larger correction in the cryptocurrency market. In the past 30 days, Solana has increased by more than 25% compared to a low $ 115 seen during a slowdown in the cryptography market.
During the last 12 -month period, Solana is down approximately 6% after in 2023, seeing a massive bull running about $ 20 at a record level of $ 250, before undergoing a correction.
