SOL Strategies May 2026 Monthly Business Update

SOL Strategies (NASDAQ: STKE) closed its USD $18 million acquisition of HoudiniSwap, a privacy-focused cross-chain swap aggregator handling about $2.5 billion in cumulative volume and $13 million 2025 revenue.

Rhea-AI Summary

SOL Strategies (NASDAQ: STKE) closed its USD $18 million acquisition of HoudiniSwap, a privacy-focused cross-chain swap aggregator handling about $2.5 billion in cumulative volume and $13 million 2025 revenue.

The company also highlighted Q2 2026 results, appointed Jon Matonis as Board Chairman, reported 624,274 SOL staked in STKESOL, 3,649,585 SOL assets under delegation, and 521,174 SOL in treasury holdings (about CAD $57.6 million).

Positive

• Closed USD $18 million acquisition of HoudiniSwap, adding established transactional revenue
• HoudiniSwap 2025 revenue of about USD $13 million on $2.5 billion cumulative volume
• Assets under delegation of 3,649,585 SOL across treasury, liquid stake, and third-party delegations
• Total treasury holdings of 521,174 SOL, valued at about CAD $57.6 million
• STKESOL liquid staking totals 624,274 SOL across 1,353 unique holders
• Validator uptime reported at 100% with peak APY of 5.92% vs 5.59% network average
• Net 780 SOL earned in May from proprietary validators, after voting costs

Negative

• None.

Argus Jun 3 session

-0.75% close to close Open Argus

Details

News Market Reaction – STKE

In the Jun 3 session, STKE declined 0.75%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights SOL Strategies’ transition toward a broader Solana infrastructure platf...

Analysis

This announcement highlights SOL Strategies’ transition toward a broader Solana infrastructure platform. Closing the USD $18M Houdini acquisition adds a business with $13M in 2025 revenue and $2.5B in cumulative volume, alongside growing staking metrics such as 3,649,585 SOL in assets under delegation. Recent filings also showed large net losses and limited cash, so investors may watch how added transactional revenue, validator performance, and treasury SOL levels evolve relative to digital asset prices.

Key Figures

Houdini purchase price: USD $18 million Houdini 2025 revenue: USD $13 million Houdini swap volume: $2.5 billion +5 more

Houdini purchase price

USD $18 million

Total consideration in cash and common shares

Houdini 2025 revenue

USD $13 million

Revenue generated in 2025 by HoudiniSwap

Houdini swap volume

$2.5 billion

Cumulative swap volume processed since launch

Exchange integrations

32 partners

Integrations including Jupiter and Solflare on Solana

STKESOL staked

624,274 SOL

Total SOL staked in STKESOL platform

Assets under Delegation

3,649,585 SOL

AuD across treasury, liquid stake and third-party delegation

Treasury SOL holdings

521,174 SOL (~CAD $57,631,420)

Total treasury SOL including liquid staked SOL

Peak APY delivered

5.92%

Validator APY vs 5.59% Solana network average

Historical Context

5 past events · Latest: Jun 02

5 events

1. Jun 02

   Acquisition closed

   24h Move

   -5.0%

   Completed $18M HoudiniSwap acquisition adding transactional business and revenue.

2. May 18

   Earnings release

   24h Move

   -14.3%

   Q2 2026 results with lower staking revenue in CAD and large net loss.

3. May 12

   Leadership change

   24h Move

   +3.5%

   Jon Matonis appointed Chairman, reinforcing strategic focus on Solana ecosystem.

4. May 11

   Earnings call setup

   24h Move

   +10.9%

   Announced timing of Q2 2026 results and investor conference call.

5. May 06

   Monthly update

   24h Move

   +0.6%

   April update detailing Houdini/Darklake deals and growing Solana metrics.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-custodial, cross-chain swap aggregator, decentralized finance, liquid staking token, +3 more

7 terms

non-custodial technical

"a non-custodial, privacy-focused cross-chain swap aggregator, for a total purchase"

Non-custodial means that individuals have full control over their own assets without relying on a third party to hold or manage them. Think of it like keeping your money in your own wallet instead of a bank’s safe deposit box; you are responsible for safeguarding and using your assets directly. For investors, this offers greater privacy and control, but also requires more responsibility for security.

cross-chain swap aggregator technical

"a non-custodial, privacy-focused cross-chain swap aggregator, for a total purchase"

A cross-chain swap aggregator is a software service that finds the easiest, cheapest route to exchange one digital asset for another across different blockchains, bundling together multiple intermediary steps so the user gets a single, smoother transaction. For investors it matters because it can lower trading costs and reduce price slippage while expanding access to liquidity, but it also introduces extra technical and smart‑contract risks tied to the bridges and services it uses.

decentralized finance financial

"was financed through decentralized finance protocols on Solana using the Company's"

Decentralized finance, often called DeFi, is a way of using digital technology to offer financial services like lending, borrowing, and trading without relying on traditional banks or institutions. It operates on open networks where anyone can participate, much like a digital marketplace that runs on shared computer systems. For investors, DeFi provides more direct control over their assets and access to financial activities outside conventional systems.

liquid staking token financial

"grow with the launch of our liquid staking token, STKESOL, and Jon Matonis"

A liquid staking token is a digital asset that represents a stake in a blockchain network's security system, allowing investors to earn rewards for participating in network validation. Unlike traditional staking, which often locks up assets and limits access, these tokens can be freely traded or used in other transactions, providing flexibility and liquidity. This enables investors to earn rewards while still maintaining the ability to access or deploy their funds elsewhere.

validator technical

"Validator Network Operations:Assets Under Delegation (AuD): 3,649,585 SOL"

A validator is a person or system that checks and confirms the accuracy and legitimacy of information, transactions, or data before they are accepted and recorded. In the context of digital assets or currencies, validators ensure that transactions follow the rules and are genuine, helping maintain trust and security in the system. For investors, validators are important because they help prevent errors or fraud, ensuring the integrity of the financial network.

assets under delegation financial

"Validator Network Operations:Assets Under Delegation (AuD): 3,649,585 SOL"

Assets under delegation are investments or financial holdings that an investor has entrusted to a professional manager or firm to handle on their behalf. This arrangement allows the investor to benefit from expert management without actively overseeing the assets themselves, similar to hiring a trusted advisor to manage your investments. It matters because it influences how the assets are managed, risks are handled, and potential returns are generated.

apy financial

"Validator Uptime: 100% across all proprietary validatorsPeak APY Delivered: 5.92%"

APY, or Annual Percentage Yield, shows how much money an investment or savings account can earn in a year, taking into account both the interest rate and how often that interest is added. Think of it like a snowball growing as it rolls downhill: the more frequently the snowball gains new snow, the faster it gets bigger. For investors, APY helps compare different options to see which one offers the best return over time.

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SOL Strategies closes acquisition of Houdini Swap, reports Q2 2026 financials, and appoints Jon Matonis as Board Chairman

Toronto, Ontario--(Newsfile Corp. - June 3, 2026) - SOL Strategies Inc. (CSE: HODL) (NASDAQ: STKE) ("SOL Strategies" or the "Company"), a digital asset infrastructure company focused on high performance blockchain and privacy technologies, today shared a corporate update for the month of May 2026.

Houdini Swap Acquisition Closed: On June 1, 2026, SOL Strategies closed its previously announced acquisition of HoudiniSwap LLC ("Houdini"), a non-custodial, privacy-focused cross-chain swap aggregator, for a total purchase price of USD $18 million, payable in a combination of cash and common shares. Houdini has processed approximately $2.5 billion in cumulative swap volume since launch and generated approximately USD $13 million in revenue in 2025. The platform maintains integrations with 32 exchange partners, including Jupiter and Solflare on the Solana network.

The cash component of the acquisition was financed through decentralized finance protocols on Solana using the Company's balance sheet, without selling treasury SOL. Full terms are available in the Company's press release here.

With the close, Houdini is now part of SOL Strategies' platform, adding established transactional revenue, multi-chain routing across more than 100 blockchain networks, and an experienced team.

Q2 2026 Financial Results: On May 18, 2026, SOL Strategies released its fiscal second quarter 2026 financial results for the quarter ended March 31, 2026, covering staking and validation revenue, SOL holdings, and operational metrics for the period. Management hosted a live webcast and conference call to review financial and operational performance, provide updates on strategic initiatives, and address investor questions.

• Conference Call Replay - Link
• FY2Q26 Management Discussion & Analysis - Link

Board Appointment: On May 12, 2026 SOL Strategies announced the appointment of Jon Matonis as Chairman of the Board of Directors. Matonis is a founding director of the Bitcoin Foundation with over two decades of experience in financial cryptography and digital currency. He has held executive roles at VISA and VeriSign and has advised blockchain companies across multiple market cycles. He earned his bachelor's degree in Economics from George Washington University.

STKESOL Liquid Staking Platform:

• Total SOL Staked in STKESOL: 624,274 SOL
• Unique STKESOL Holders: 1,353

Validator Network Operations:

• Assets Under Delegation (AuD): 3,649,585 SOL (including treasury stake, liquid stake and third-party delegation)
• Unique Wallets Served: 33,591
• Validator Uptime: 100% across all proprietary validators
• Peak APY Delivered: 5.92% vs. 5.59% network average
• Net SOL earned in May from proprietary validators: 780 SOL

Company Treasury Holdings:

• Total Treasury SOL (including liquid staked SOL): 521,174 SOL (~CAD $57,631,420*)

*Source: Solscan at approximately 10:15AM ET on 06/01/2026
**Based on a SOL/CAD rate of 110.58 as published by Kraken at TIME ET on 06/01/2026
***Validator revenue net of voting costs

Management Commentary

Michael Hubbard, CEO of SOL Strategies, stated: "Closing Houdini was the headline, but what we're really looking at is a business that's been generating real revenue for years, $13 million in 2025 and $2.5 billion in cumulative volume, now operating inside our platform. We funded it without touching treasury SOL. Q2 results showed validator and staking reach continued to grow with the launch of our liquid staking token, STKESOL, and Jon Matonis joining as Chairman adds genuine depth in financial cryptography at a moment when that background is going to count. We're heading into the second half of 2026 with more revenue diversity than we've had at any point in our history, and the fundamentals underneath that are sound."

About SOL Strategies

SOL Strategies Inc. (CSE: HODL) (NASDAQ: STKE) is a digital asset infrastructure company focused on high-performance blockchain and privacy technologies. Headquartered in Toronto, the Company operates staking infrastructure and privacy technology on public blockchain networks, serving a broad range of participants from individual SOL holders to institutional clients.

To learn more about SOL Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company's related material documents regarding the Company may be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.

Investor Contacts:
Doug Harris, Chief Financial Officer, 416-480-2488
John Ragozzino, CFA, solstrategies@icrinc.com, 203-682-8284
Media Contact: solstrategies@scrib3.co

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements and information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the Company's or the Company's management team's expectations, hopes, beliefs, intentions or strategies regarding the future, and expectations regarding the characteristics, value drivers, and anticipated benefits of the Company's business plans and operations related thereto. Forward-looking information can also be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved".

Forward-looking statements in this news release include statements regarding the anticipated financial and strategic benefits of the HoudiniSwap acquisition, the Company's validator operations, and the Company's strategic initiatives within the Solana ecosystem. There is no assurance that the Company's plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates, and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:

SOL Strategies is an independent organization in the Solana ecosystem. SOL Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the "Foundation"), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with SOL Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by SOL Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299910

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did SOL Strategies (NASDAQ: STKE) announce about the HoudiniSwap acquisition on June 3, 2026?

SOL Strategies announced it closed the HoudiniSwap acquisition for USD $18 million. According to SOL Strategies, HoudiniSwap is a non-custodial, privacy-focused cross-chain swap aggregator integrated with 32 exchange partners and now operates within the company’s broader digital asset platform.

How much revenue did HoudiniSwap generate before being acquired by SOL Strategies (STKE)?

HoudiniSwap generated approximately USD $13 million in revenue in 2025. According to SOL Strategies, the platform also processed about $2.5 billion in cumulative swap volume, providing established transactional revenue now folded into SOL Strategies’ digital asset infrastructure business.

How was the HoudiniSwap purchase financed by SOL Strategies (STKE)?

The HoudiniSwap acquisition was financed through decentralized finance protocols on Solana using company balance sheet funds. According to SOL Strategies, the transaction’s cash component did not require selling treasury SOL, helping preserve its on-balance-sheet SOL holdings while completing the USD $18 million deal.

What key Q2 2026 updates did SOL Strategies (STKE) provide for investors?

SOL Strategies released fiscal Q2 2026 financial results covering staking and validation revenue, SOL holdings, and operational metrics. According to SOL Strategies, management also hosted a webcast and call to review performance, discuss strategic initiatives, and respond to investor questions about the quarter ended March 31, 2026.

Who is Jon Matonis and what role did he assume at SOL Strategies (STKE)?

Jon Matonis was appointed Chairman of the Board at SOL Strategies. According to SOL Strategies, he is a founding director of the Bitcoin Foundation with executive experience at VISA and VeriSign and over two decades in financial cryptography and digital currency advisory roles.

What are the latest STKESOL liquid staking metrics reported by SOL Strategies (STKE)?

STKESOL has 624,274 SOL staked across 1,353 unique holders. According to SOL Strategies, total assets under delegation reach 3,649,585 SOL, validator uptime is 100%, and proprietary validators earned a net 780 SOL in May after voting costs.

How large are SOL Strategies’ (STKE) treasury SOL holdings as of early June 2026?

Treasury holdings total 521,174 SOL, including liquid staked SOL. According to SOL Strategies, this equates to approximately CAD $57,631,420, based on Solscan data and a SOL/CAD rate from Kraken around the morning of June 1, 2026.