The firm Sol Strategies, which is based in Toronto, they announced that they are going to use $500 million in credit to increase investment in SOL and grow their Solana validator business. The news came out on April 23, 2025. Shares of Sol Strategies (HODL), a Toronto digital-asset firm, went up when they revealed they have secured a credit facility of up to $500 million to boost their investments in the Solana network. The company stated that this money will only be used to buy SOL tokens and expand their blockchain validator operation. Shares of HODL went up 18% to C$2.16 before going down a bit, but still 7% higher than the previous day’s closing. The CEO Leah Wald mentioned that this is the largest financing facility in the Solana ecosystem and the first one connected to staking yield. The company is planning to close the first $20 million part of the deal with the private equity investment firm ATW Partners from New York by May 1. The interest on the credit notes will be paid out in SOL, calculated as up to 85% of the staking yield on SOL staked with the firm’s validators. Also, Sol Strategies is thinking about moving to the Nasdaq stock exchange in the U.S. This move would give them access to a bigger investor pool. This plan is similar to what Galaxy Digital, a Canadian digital asset investment firm, is doing by debuting on Nasdaq in May. SOL Strategies, led by Wald, who co-founded digital asset manager Valkyrie Investments, was the first to adapt Michael Saylor’s bitcoin treasury strategy to alternative cryptocurrencies. They currently own 267,151 SOL tokens, valued at over $40 million. Last month, they bought three validator businesses, which increased the total amount of SOL staked with the firm’s validators to 3,351,617 SOL, or over $500 million. Finally, U.S.-listed real estate firm Janover, now known as DeFi Development Corp, has decided to follow SOL Strategies’ example by focusing on a Solana-oriented crypto treasury and validator operator strategy. Krisztian Sandor, a U.S. markets reporter who concentrates on stablecoins, tokenization, and real-world assets, is the author of this article. He completed his business and economic reporting program at New York University before starting at CoinDesk. He has investments in BTC, SOL, and ETH.

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