Sol Strategies Inc Stock Price, News & Analysis

Antanas Guoga, Chair and director of Sol Strategies Inc. (formerly Cypherpunk Holdings Inc.), has filed an early warning report regarding the acquisition of 16,575,000 common shares and the disposition of 1,221,000 common shares of the Company. The transactions occurred between September 16, 2022, and October 1, 2024, through the Canadian Securities Exchange and stock option exercises.

Prior to these transactions, Mr. Guoga held approximately 23.25% of the issued and outstanding Common Shares on an undiluted basis. After the acquisition and disposition, his holdings increased to approximately 36.0% of the issued and outstanding Common Shares on an undiluted basis. The transactions were completed for investment purposes, and Mr. Guoga may adjust his holdings in the future based on market conditions and other factors.

Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) reported a significant increase in SOL delegated to its public validator for staking rewards on the Solana blockchain. As of October 15, 2024, approximately 225,158.82 SOL (CAD $48,086,433.94) had been delegated, including 105,288.99 SOL from the company and the rest from third parties. The company's total SOL holdings reached 105,389.79 SOL (CAD $22,493,066.54).

The growth in delegated amount includes 118,596.55 SOL from the Solana Foundation's delegation program and 1,290.032993 SOL (CAD $275,328.36) from other third parties. CEO Leah Wald attributed this increase to the team's operational excellence and commitment to maintaining top-tier validator performance.

Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF), a Canadian holding company focused on the Solana blockchain ecosystem, has acquired 4,341.80 SOL at an average price of CAD $191.77 per SOL. This acquisition brings the company's total SOL holdings to 105,249.82. The newly acquired SOL is intended for staking within the Solana blockchain.

CEO Leah Wald stated that following the successful recovery from FTX's bankruptcy proceedings, the company has strategically increased its SOL holdings and enhanced its staking operations. This move aims to strengthen Sol Strategies' position in the Solana ecosystem and continue delivering value to shareholders through efficient management of its digital asset portfolio.

Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) has recovered approximately CAD $825,450 (US $611,494) from FTX's bankruptcy proceedings, representing a 122% premium on their original US$500,000 investment. The company has also increased its Solana holdings to 100,763.0230 SOL (valued at $20.8 million), up from 86,294.0575 SOL in July 2024.

Since June 14, 2024, Sol Strategies has generated gross revenue of 1,430 SOL ($282,910) from staking, with a gross profit of $266,680. The company currently holds 56.2406 bitcoin (valued at approximately $4.8 million) and has $1,795,000 in cash. Additionally, Sol Strategies maintains private equity/venture capital investments with a book value of about $442,000.

Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF), formerly Cypherpunk Holdings Inc., has rebranded to reflect its new investment strategy focused on Solana. The company aims to stake Solana and invest in related projects and infrastructure. The name change, effective September 12, 2024, was approved by the board and shareholders. Sol Strategies will continue trading under the ticker HODL on CSE and CYFRF on OTC.

CEO Leah Wald stated that the rebranding positions the company to capitalize on growth potential within the Solana ecosystem. The shift allows shareholders to gain indirect exposure to Solana holdings and potential investments in Solana-based projects. Sol Strategies is operating its own validator node on Solana through a third-party service provider and aims to connect public markets to decentralized finance.

Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) has entered into an investor relations agreement with Proconsul Capital The agreement, effective until October 30, 2024, involves Proconsul providing strategic communication services for a monthly fee of $7,000 plus HST. As part of the agreement, Cypherpunk has issued stock options to Proconsul for 100,000 common shares at $0.145 per share, exercisable until September 11, 2026. Additionally, Cypherpunk has granted stock options for 49,971 common shares to newly appointed director Ungad Chadda at the same price, expiring on September 10, 2029. Both option grants were made under the company's stock option plan approved by shareholders on July 30, 2024.

Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) has appointed Ungad Chadda as an independent director to its Board of Directors, effective immediately. Mr. Chadda brings extensive experience from his 21-year tenure at TMX Group , where he held various senior positions, including President of the Toronto Stock Exchange. He is currently the CEO and Director of Urban Infrastructure Group Inc., a TSX Venture Exchange-listed company.

Mr. Chadda's background includes roles as Director of Listings at TSX Venture Exchange, CFO of TSX Trust, and SVP of Enterprise Corporate Strategy at TMX Group. He holds an Honours Bachelor of Commerce from McMaster University, a Chartered Accountancy designation, and completed the Director Education Course at Rotman School of Management.

Leah Wald, CEO of Cypherpunk Holdings, expressed confidence that Mr. Chadda's regulatory and leadership experience in capital markets will contribute to executing new strategies in the blockchain and digital asset sectors, reinforcing the company's commitment to enhanced governance.

Toronto-based Cypherpunk Holdings (CSE: HODL, OTC Pink: CYFRF) announced a name change to Sol Strategies Inc.. The change will take effect on the Canadian Securities Exchange starting September 12, 2024. The stock symbol HODL remains unchanged. A new CUSIP number has been issued, but existing shareholders need not take any action as their certificates remain valid. Shareholders with inquiries are advised to contact the Company or their brokers.

Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) has announced a significant update on its investment holdings and staking activity. The company has increased its Solana (SOL) holdings to 86,294.0575 SOL, valued at approximately $21.6 million, with an average acquisition price of US$143. Cypherpunk has also generated 230.35 SOL ($57,639) in gross revenue from SOL staking since June 14, 2024.

The company's Bitcoin holdings have decreased to 56.29229277 BTC, valued at approximately $5.2 million. Cypherpunk has sold its remaining 6,590,909 shares of Animoca Brands for gross proceeds of $5.1 million. As of the announcement, the company has approximately $4.9 million in cash, other assets and private equity investments valued at $492,000, and net liabilities of approximately $115,000.