SOL Strategies Tops $1B Delegated SOL as 7,000 Wallets Back its
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Sol Strategies
Solana
As SOL Strategies readies a Nasdaq uplist, 7,068 wallets delegate 3.6M SOL—over CAD 1B—to its SOC 2/SOC 1 and ISO 27001‑certified validators, anchored by a CAD 110M SOL treasury.
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Hassan Shittu
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Hassan Shittu
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SOL Strategies, formerly known as Cypherpunk Holdings, has crossed a major milestone in its validator operations, reporting more than CAD $1 billion in Solana delegated to its network.
The announcement comes as the company prepares for an anticipated uplisting to Nasdaq, marking one of the biggest steps yet in its bid to cement its role as a leading public player in the Solana ecosystem.
Over 7,000 Wallets Stake With SOL Strategies Amid Record Delegations.
The company disclosed that a total of 3,617,211 SOL is now delegated to its validators, a figure that includes both its internally held Solana treasury and third-party delegations. SOL Strategies currently owns a treasury of 399,907 SOL, valued at roughly CAD $110 million, representing about 11% of the overall stake.
The remaining share is composed of third-party delegations from across the Solana ecosystem. In total, more than 7,000 unique wallets are staking through SOL Strategies’ validators, an all-time high for the firm.
“Crossing CAD 1 billion in delegated SOL reflects the continued growth of our validator operations,” said Leah Wald, chief executive officer of SOL Strategies. “The combination of our own treasury stake and third-party delegations underscores the scale we have reached and the increasing participation in the Solana ecosystem.”
The milestone is underpinned by SOL Strategies’ dual focus on maintaining its own substantial Solana treasury while running revenue-generating validator operations. Its validators are SOC 2 Type 1, SOC 1 Type 1, and ISO 27001 certified, giving the company a compliance and security framework that it says helps attract both retail and institutional delegators.
By combining these validator operations with its holdings, the firm has positioned itself as one of the few publicly traded entities providing direct shareholder exposure to Solana’s network growth and staking revenues.
The progress also builds on a string of corporate updates over the summer. In July, the company’s board approved a 1-for-8 share consolidation, a move designed to align its stock price with Nasdaq’s listing requirements.
While the listing remains subject to regulatory approval, management has framed the step as a key part of its strategy to increase access to U.S. capital markets and broaden its investor base.
Just days later, SOL Strategies announced that ARK Invest’s Digital Asset Revolutions Fund had chosen the company as its staking provider, a partnership that marked one of its most high-profile institutional relationships to date.
The company also reported that validator revenues in July rose by 15.4% in SOL terms compared to June, citing higher network activity and operational improvements. Gross margins from validator operations were reported at approximately 90%, according to internal performance metrics.
Infrastructure development has been another focus. SOL...
https://cryptonews.com/news/sol-strategies-tops-1b-delegated-sol-as-7000-wallets-back-its-upcoming-nasdaq-uplisting/
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