Latest news with #SolStrategies
Yahoo
6 days ago
- Business
- Yahoo
Sol Strategies Inc (CYFRF) Q2 2025 Earnings Call Highlights: Navigating Losses and Strategic ...
Total Comprehensive Loss: $32.5 million for the quarter ended March 31, 2025, compared to $7.7 million of total comprehensive income in the prior period. Unrealized Loss on Cryptocurrencies: $27.7 million for the quarter, compared to a $7.9 million unrealized gain in the prior period. Staking and Validating Income: $2.53 million, up 104% from $1.24 million in the first quarter of 2025. Operating Expenses: $8.5 million for Q2 2025, up from $174,000 in the prior period. Stock-Based Compensation: $3.2 million for the quarter, up from $25,000 in the prior period. Amortization Expense: $2.5 million for the quarter, compared to nil in the prior period. Interest Expense: $669,000 for the quarter, compared to $32,000 in the prior period. Adjusted EBITDA: $714,000 for the quarter, compared to $243,000 in the prior period. Cash and Digital Assets: $1.7 million in cash, $257,000 in Solana, and 3.17 Bitcoin, with a combined value of $48.3 million as of March 31, 2025. Total Long-Term Liabilities: $40.2 million, including $14 million of convertible debentures. Warning! GuruFocus has detected 1 Warning Sign with CYFRF. Release Date: June 02, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sol Strategies Inc (CYFRF) achieved a 113% increase in total staked assets, positioning itself among the largest validator operators on the Solana network. The company has been recognized as a preferred validator within BitGo's institutional platform, enhancing its credibility and reach. Sol Strategies Inc (CYFRF) completed significant compliance audits, including SOC1 Type 1, SOC 2 Type 1, and ISO 27001, which bolster its institutional trustworthiness. The company launched a staking app with advanced analytics and real-time performance monitoring, enhancing its validator management infrastructure. Sol Strategies Inc (CYFRF) secured over USD 525 million in capital commitments, providing financial flexibility for future growth opportunities. The company reported a total comprehensive loss of approximately $32.5 million for the quarter, largely due to noncash mark-to-market adjustments related to the decline in Sol prices. Operating expenses increased significantly to $8.5 million, driven by stock-based compensation and amortization expenses. The financial results reflect only 14 days of contribution from the Laine Validator acquisition, limiting the full impact of the acquisition on the quarter's performance. Interest expenses rose to $669,000 due to the closing of a $30 million convertible debenture offering and increased drawdown on the credit facility. The company faces potential shareholder dilution concerns with the recent filing of a USD 1 billion base shelf prospectus and ongoing capital raising activities. Q: Can you discuss your roadmap for tokenization on the Solana network and future investments? A: Leah Wald, CEO, highlighted their intention to be the first public company to issue shares natively on Solana. Max Kaplan, CTO, emphasized that increased network use will generate more revenue due to their validators. They plan to focus on staking and infrastructure development, with further announcements to come. Q: How do you plan to utilize your balance sheet for investments and acquisitions? A: Leah Wald explained their treasury strategy supports both organic and inorganic growth. They focus on reinvesting in core infrastructure and evaluating strategic acquisitions. Increasing their Solana treasury is a priority, paired with productive staking strategies to enhance shareholder value. Q: How does Sol Strategies address cybersecurity, particularly quantum cryptography? A: Max Kaplan noted their commitment to security through audits and blog posts. While quantum cryptography is a future concern, Solana has pioneered innovations like quantum-safe vaults. Sol Strategies is monitoring developments and ensuring Solana takes the issue seriously. Q: What are the hurdles and timing expectations for your Nasdaq listing? A: Leah Wald stated that their application has been filed, and they are working towards uplisting from the CSE to Nasdaq. However, she could not provide further details at the moment. Q: Can you explain the business model and financial implications of the Pudgy Penguins deal? A: Max Kaplan described the white-label validator service for Pudgy Penguins, which recently moved to Solana. The more stake Pudgy Penguins attracts, the more revenue both companies generate. This partnership is part of their strategy to expand white-label services as institutional players join the ecosystem. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Solana Scores Twin Institutional Wins With $1B Raise and First Public Liquid Staking Strategy
Solana's SOL SOL got a double dose of institutional adoption this week as two publicly traded firms revealed major initiatives centered on the blockchain's ecosystem — one targeting liquid staking, the other aiming to raise up to $1 billion for direct investment. Canada-listed Sol Strategies filed a preliminary base shelf prospectus on Tuesday to offer up to $1 billion in securities, including equity and debt, to deepen its exposure to Solana. There is no immediate plan to raise capital, but the filing provides the firm with flexibility to act quickly on future opportunities. The move comes just weeks after Sol Strategies secured a $500 million convertible note and spent its first $20 million tranche to purchase over 122,000 SOL. Separately, DeFi Development Corp. (Nasdaq: DFDV) said it is adopting liquid staking token (LST) infrastructure developed by Sanctum, becoming the first public company to invest in Solana-based liquid staking tokens (LSTs). Through its new token dfdvSOL, the company will allow users to stake SOL with DeFi Dev's validators while retaining liquidity, enabling participation in DeFi or redemption at any time. Staking refers to locking up tokens (such as SOL) to help run the network and earn rewards in return. Validators are specialized computers that process and verify transactions to maintain the blockchain's security and ensure its smooth operation. The dual moves show growing confidence in Solana's staking and validator infrastructure among corporate players and could mark the early stages of a broader institutional push toward SOL. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-04-2025
- Business
- Yahoo
SOL Strategies Surges on Up to $500M Credit Facility for Solana Investment
Shares of Sol Strategies (HODL), a Toronto-listed digital-asset firm, jumped after the company said it secured an up-to $500 million convertible note facility to ramp up its investments focused on the Solana network. The capital will be exclusively used for purchasing SOL tokens and expand the firm's blockchain validator operation, the company said in a release. HODL shares surged as much as 18% to C$2.16 before paring some of the gains, but were still up 7% from yesterday's close. "This is the largest financing facility of its kind in the Solana ecosystem-and the first ever directly tied to staking yield," CEO Leah Wald said in the statement. "Every dollar deployed is immediately yield-generating, and accretive to both our balance sheet and our validator business. This structure is not only innovative-it is highly scalable." The initial $20 million tranche of the deal, signed with New York-based private equity investment firm ATW Partners, is expected to close by May 1, the company said. The interest on the convertible notes will be paid out in SOL, calculated as up to 85% of the staking yield on SOL staked with the firm's validators. The company said it is also exploring a move to the Nasdaq stock exchange in the U.S., giving it access to a deeper investor base. The move follows similar plans of Canada-listed digital asset investment firm Galaxy Digital, which is set to debut on Nasdaq in May after being granted regulatory approval earlier this month. SOL Strategies, led by Wald, co-founder of digital asset manager Valkyrie Investments, spearheaded the movement of adapting Michael Saylor's bitcoin treasury strategy to alternative cryptocurrencies. The firm held 267,151 SOL tokens as of last month, worth over $40 million at current prices. It also bought three validator businesses last month, bringing the total amount of SOL staked at the firm's validators to 3,351,617 SOL, or over $500 million. U.S.-listed real estate firm Janover, now known as DeFi Development Corp, recently followed SOL Strategies' footsteps in pursuing a Solana-focused crypto treasury and validator operator strategy.
Associated Press
25-02-2025
- Business
- Associated Press
Sol Strategies to Announce First Quarter 2025 Financial Results on March 3, 2025, Provides Update on SOL Purchases and Investor Relations Firm Engagement
Toronto, Ontario--(Newsfile Corp. - February 25, 2025) - Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) (formerly, Cypherpunk Holdings Inc, 'Sol Strategies' or the 'Company'), a publicly traded Canadian company dedicated to investing in and providing infrastructure for the Solana blockchain ecosystem, today announced it will release its financial results for the first quarter of 2025 on Monday, March 3, 2025, at 4:30 PM EST. CEO Leah Wald, CFO Doug Harris and CTO Max Kaplan will host a webcast and conference call to discuss the results following the release. Participants will have the opportunity to ask questions during the call. Event Details: Sol Strategies First Quarter 2025 Financial Results Webcast and Conference Call Webcast Date: Monday, March 3, 2025, at 4:30 PM EST Live Call: (800) 579-2543 Primary (US) or (785) 424-1789 (International) A replay of the webcast will be available on the company's investor relations website shortly after the event Recent SOL Purchases Update For the week ending February 23, 2025, Sol Strategies acquired 10,354 SOL for a total of $1,749,980 USD, reflecting an average purchase price of $169.01 USD per SOL. This continued accumulation aligns with the Company's strategy of expanding its SOL holdings to support its validator operations and long-term investment approach in the Solana ecosystem. Investor Relations Firm Engagement The Company also announces that effective February 25, 2025 it has engaged ICR, LLC ('ICR') to provide certain investor relations services to the Company, including preparations for earnings reports, messaging development and execution, analyst engagement, investor targeting, which may include the distribution of information relating to the Company through digital, email and influencer marketing, development of investor relations infrastructure and best practices, and the provision of market research and intelligence. ICR is engaged for an initial six month term, after which either the Company or ICR may terminate the engagement on 60 days' notice. In consideration for these services, ICR will be paid a US$30,000 retainer and a monthly fee of US$15,000. ICR is led by John Sorensen out of 761 Main Avenue, Norwalk, Connecticut, 06851 (email: [email protected]; telephone: (203) 682-8200). ICR and Mr. Sorensen are at arm's length to the Company and neither owns any shares of the Company. About Sol Strategies Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) is a Canadian investment company that operates at the forefront of blockchain innovation. Specializing in the Solana ecosystem, the company provides strategic investments and infrastructure solutions to enable the next generation of decentralized applications. To learn more about Sol Strategies, please visit A copy of this news release and all the Company's related material documents regarding the Company may be obtained under the Company's SEDAR+ profile at Investor Contact Doug Harris Chief Financial Officer [email protected] Tel: 416-480-2488 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 timing for the Company's release of its financial results and the services to be undertaken by ICR. 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.
