Sol Strategies (HODL), the firm of digital assets that lies in Toronto that focuses on Solana (Sol), said Tuesday that he has acquired more than $ 18 million in Tokens Sol, using the income of a newly guaranteed financing agreement.
The company bought 122,524 Sol for $ 18.25 million at an average price of $ 148.96 per Token, according to a press release. The acquisition follows the initial closure of $ 20 million of a convertible note of $ 500 million planned with the investment firm atw Partners, announced last month.
The company’s shares passed 10% to around CA $ 2.6 in the early hours of the Tuesday of the session, extending the fall in the end of April on CA $ 3.3. Even so, the action has increased almost 80% in two weeks.
“With the closure of our initial section of $ 20 million of the ATW facilities, we are executing exactly how it was promised, strategically acquire Sun to expand our validator operations and the position of the ecosystem,” said the CEO Leah Wald. “These purchases directly strengthen our strategy of three pillars of business degree validators, strategic holdings of sun and technological innovation of Solana.”
Valuoror operations are central infrastructure in Blockchains of stagnation test as Solana, where participants help ensure the network and obtain betting rewards. When acquiring sun, the company can increase its validator participation, potentially increasing both the influence and income within the ecosystem.
The Sol Strategies movement highlights a growing trend among public companies that apply the Michael Saylor Strategy Strategy Book with Bitcoin (BTC), using capital markets to accumulate large home holdings with the hope of delivering shareholders.
Last month, the Royal Estate Fintech Janover (JNVR) firm, now renowned as Development, turned to focus on accumulating sun and building a validator business in the Solana network.
Read more: Develop Development plans to raise $ 1 billion to buy more solena
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