SOL Strategies raises $500M in convertible notes issuance to buy Solana tokens
Summary
SOL Strategies issued $500 million in convertible notes to purchase and stake Solana (SOL) tokens, with the investment coming from ATW Partners. The company aims to build institutional-grade infrastructure for Solana, focusing on long-term potential rather than short-term price changes. Staking yields will benefit both SOL Strategies and ATW Partners. SOL Strategies' share price increased by 25.3% following the announcement. The company reported CAD$10.62 million in revenue for 2024, marking a significant financial turnaround. Other companies, like Upexi and DeFi Development Corporation, are also investing in Solana reserves.
