SOL Strategies
Operates Solana validators alongside a SOL-focused digital-asset treasury.
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Profile
Holds SOL as a core balance-sheet asset while operating validators and developing staking tools. The business was remade from Cypherpunk Holdings in 2024 around the Solana ecosystem, with acquisitions extending its validator platform.
Holds SOL as a core balance-sheet asset while operating validators and developing staking tools with compliance frameworks. The business remade itself from Cypherpunk Holdings in 2024 around the Solana ecosystem.
Validator acquisitions expanded the platform to a portfolio centered on Solana, including Laine and Stakewiz.com. The company also invests in the Solana ecosystem and participates strategically in decentralized finance.
Operations are based in Toronto, while shares trade on Nasdaq and the CSE. Its model depends on the Solana ecosystem, secure validator operation, staking activity, and the value of SOL held on its balance sheet.
Company facts
Categories
Key statistics
Year to date −30.9% · Average volume (30d) 189.7K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 17, 2026Q3 FY26 | −$0.11 | −$0.34 | −226.7% | $774.4K | $1.3M | +63.6% | +2.97% |
| Aug 14, 2026Q3 FY26 | −$0.11 | −$0.35 | −233.3% | $774.4K | $1.3M | +63.6% | −1.94% |
| May 15, 2026Q2 FY26 | −$0.15 | −$1.78 | −1,076.2% | $1.2M | −$10.4M | −952.9% | −14.29% |
| Feb 18, 2026Q1 FY26 | −$0.20 | −$0.31 | −53.6% | $2.4M | −$3.0M | −224.2% | −1.52% |
Financial highlights
| 9 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $216.2K | $0 | $0 | −$10.4M | $1.28T | |
| Gross profit | −$564.5K | −$619.3K | −$1.1M | −$832.9K | −$12.1M | $1.28T | |
| Operating income | −$4.3M | −$5.9M | −$25.2M | −$8.5M | −$55.7M | −$11.03T | |
| Net income | −$3.5M | −$5.9M | −$18.2M | −$8.5M | −$64.8M | −$12.7M | |
| Diluted EPS | −$0.17 | −$0.28 | −$0.91 | −$0.31 | −$1.78 | −$0.35 | |
| Gross margin | — | -286.5% | — | — | — | 100.0% | |
| Operating margin | — | -2,712.5% | — | — | — | -859.0% |
Fiscal years (4-quarter sums)FY25 $216.2K
Balance sheet, Jun 30, 2026Cash & short-term investments $1.3M · Total debt $33.9M · Total assets $69.6M · Shareholders' equity $24.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 25.52M · Float 18.90M · 74.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Polar Asset Management Partners Inc. | 5.10M | 9.99% | 13G | Nov 14, 2025 |
| Guoga Antanas | 3.61M | 16.30% | 13G | Nov 10, 2025 |
| Key Client Fiduciary Advisors, LLC | 330.6K | 1.30% | 13F | Apr 9, 2026 |
| Mmcap International Inc. SPC | 250.0K | 0.98% | 13F | May 15, 2026 |
| UBS Group AG | 242.5K | 0.95% | 13F | May 5, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Forward Industries
Large Solana treasury with validator-led staking and liquid staking
- DeFi Development
SOL treasury, owned validators, delegated staking and dfdvSOL
- Upexi
Solana treasury that stakes holdings through institutional validators
- Galaxy Digital
Institutional Solana validator stack and GalaxyOne staking platform
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SOL Strategies | $1.28 | +4.07% | $31.4M | — | — | — | — |
| Forward Industries | $5.99 | +1.87% | $434.4M | — | 35.6 | 8.2 | +332.1% |
| DeFi Development | $4.91 | −1.21% | $150.0M | — | — | 9.9 | +66.9% |
| Upexi | $1.07 | −0.52% | $79.3M | — | — | 3.0 | +44.2% |
| Galaxy Digital | $23.29 | +0.30% | $7.70B | — | — | 0.1 | +0.6% |
| Median | — | 35.6 | 5.6 | +55.5% |