SOL Methods, a Canadian publicly traded firm centered on supporting the Solana blockchain ecosystem, has expanded its holdings with a brand new $20 million Solana buy.
The Canada-listed firm announced the transfer on Tuesday, Might 6, disclosing the completion of the $20 million purchase is from the primary tranche of its $500 million convertible note facility.
In keeping with SOL Methods, the acquisition was for 122,524 Solana (SOL) tokens, accomplished at a mean value of $148.96 per token. The corporate spent a complete of about $18.25 million on the brand new SOL haul, it famous
“With the closing of our preliminary $20 million tranche from the ATW facility, we’re executing precisely as promised – strategically buying SOL to increase our validator operations and ecosystem place,” mentioned Leah Wald, chief government officer of SOL Methods. “These purchases straight strengthen our three-pillar technique of enterprise grade validators, strategic SOL holdings, and solana know-how innovation.”
The shopping for comes just a few days after SOL Methods’ profitable closing of an preliminary $20 million funding facility.
SOL introduced this on Might 1, noting the tranche is a part of its $500 million convertible observe facility with ATW Companions. This success allowed the corporate to maneuver ahead with its plan to accumulate extra Solana utilizing the proceeds.
SOL Methods acquired a complete of 24,374 SOL between January 31, 2025 and February 7, 2025, with the acquisition value about $5 million. The corporate held 267,151 SOL value about $38.4 million as of April 7, 2025.
Whereas it focuses on Solana, SOL Methods additionally holds Bitcoin (BTC).
Particulars on its website confirmed it held 3.211 BTC valued at 419.34k Canadian {dollars}, or roughly $304k as of April 7. It at the moment has over 3 million staked SOL and maintains a footprint within the exchange-traded fund ecosystem because the staking supplier for 3iQ’s Solana Staking ETF.
