SOL Strategies Lands $500M Deal to Scale Solana Staking

On April 23, 2025, SOL Strategies Inc., a Canadian firm focused on the Solana blockchain, secured a USD $500 million convertible note facility from ATW Partners to buy and stake SOL tokens.

The first $20 million tranche starts May 1, 2025, with up to $480 million more available. Interest is paid in SOL, up to 85% of staking yield. The notes convert to shares at market price. This first-of-its-kind deal boosts SOL Strategies’ validator operations and supports a potential Nasdaq uplisting. Securities are unregistered in the U.S., and risks include uncertainty over full facility use.