Since its name change, Sol Strategies' stock price has risen by over 1700%

ChainCatcher news, according to Blockworks, Toronto-based Cypherpunk Holdings has rebranded to Sol Strategies since September 2024, and the company's stock price has risen over 1700% since its debut.

It is reported that the holding company has acquired two independent validator businesses, holding a total of over 142,000 SOL, valued at approximately $27 million at current prices. Previously, the company hired a former senior engineering director from Kraken as its staking lead and applied for a listing on Nasdaq. This week, the company signed a credit agreement with its board chairman to purchase $17.3 million worth of SOL tokens and announced a private placement agreement with ParaFi Capital valued at approximately $19 million.

The company's CEO Leah Wald previously stated that the difference between Sol Strategies and MicroStrategy is that it also operates validator businesses and invests in Solana ecosystem projects, making its approach "more dynamic."