- SOL Strategies has secured up to $500 million from ATW Partners to purchase and stake Solana (SOL), using staking yields to repay the lender.
- The innovative deal links traditional capital markets with blockchain staking and supports the company’s potential Nasdaq ambitions.
In a bold move that could reshape institutional participation in blockchain infrastructure, SOL Strategies Inc. has secured a massive $500 million financing facility to ramp up its Solana (SOL) acquisitions and staking operations. The deal, announced Wednesday, positions the publicly traded firm as a major player in the evolving ecosystem of proof-of-stake (PoS) finance.
The funding comes via a convertible note agreement with ATW Partners, with an initial $20 million tranche set to close around May 1, 2025. The remainder—up to $480 million—will be available subject to undisclosed conditions, offering SOL Strategies substantial firepower as it doubles down on its Solana-centric vision.
Also read: EU Proposes GDPR-Compliant Blockchain Rules to Protect Personal Data
Uniquely, the company isn’t just buying SOL—it’s putting it to work. Under the terms of the agreement, SOL Strategies will stake the tokens on its own validator nodes, using up to 85% of the staking yield to pay interest to the lender. This innovative structure aligns capital markets with staking rewards, creating a potential blueprint for future institutional investment in PoS networks.
“This facility directly ties traditional finance to decentralized staking economics,” the company stated, emphasizing the growing appeal of yield-generating crypto assets to institutional backers.
The deal also arrives amid a broader wave of interest in Solana-based infrastructure. Recent announcements from DeFi Development Corp and Upexi signal a growing appetite for blockchain treasury strategies built on Solana’s high-throughput network.
The convertible notes can be exchanged for common shares of SOL Strategies at market rate and benefit from regulatory exemptions in both the U.S. and Canada. Cohen & Company Capital Markets is acting as placement agent and will receive a 4% finder’s fee from the initial $20 million drawdown.
While the full deployment of the $500 million remains conditional, this move signals SOL Strategies’ ambitions to not only scale its presence but also potentially secure a future listing on Nasdaq. If successful, this could mark a pivotal moment for both the company and the broader Solana ecosystem.
