Sol Strategies Sells 12.4% of its $SOL Holdings to Reduce Debt

Sol Strategies, a Solana DAT and infrastructure firm, has disclosed the sale of 65,001 $SOL, using liquidity from the transaction to settle roughly $5.75M CAD of debt.

While trimming around 12.4% of the firm’s Solana holdings, which totaled 521,174 $SOL on June 1st, Sol Strategies still boasts the highest fully diluted mNAV of its fellow DATs.

Sol Strategies' debt reduction comes after a strong year for the Solana treasury company, which saw the firm acquire Houdine Swap and Darklake as part of its expansion into staking operations.

Sol Strategies Reduces Debt

On June 8th, Sol Strategies announced the sale of 65,001 $SOL at an average price of $87.88 CAD per unit. The sale brings Sol Strategies’ total holdings to an estimated 456,173 $SOL, down 12.4% from the 521,174 $SOL the firm reportedly owned on June 1st.

According to the press release, Sol Strategies’ latest sale was executed as part of its wider capital and risk management strategy during a period of market volatility, with proceeds allocated towards reducing its debts to the tune of $5.75M CAD.

“Today’s announcement reflects a decision to reduce debt and further clean up our balance sheet to assist us to fully focus on the operating businesses. With an improved balance sheet, a week into owning Houdini Swap and other ongoing product developments, the priority remains the Solana Economy. As a transactional business, we believe Houdini Swap is well positioned to take advantage of any volume increases resulting from the current high volatility.” - Michael Hubbard, SOL Strategies CEO

Sol Strategies' most recent sale marks the first time the firm has sold $SOL since September 2025, when $SOL consistently traded at over $200.

$STKE Boasts Highest Fully Diluted mNAV Among DATs

After dominating headlines throughout 2025 for their prolific buying habits, Solana’s Digital Asset Treasuries have fallen quiet in 2026. With $SOL succumbing to bearish forces and declining 73% since last year’s September highs, many of the network’s DATs are sitting on considerable losses.

For example, Forward Industries, the largest Solana-based DAT, acquired over 6.82M $SOL at an estimated cost of $1.58B. Since then, $SOL price has dropped by over 65%, suggesting the firm is likely to be deeply underwater on its holdings. 

Rival DATs, like Solmate, purchased locked $SOL at a then-discounted price in late September, only to watch as $SOL plummeted below $100 in the coming months.

Despite the carnage in markets, Sol Strategies is arguably in the strongest position of all its peers. 

Even after trimming its holdings by 65,001 $SOL, Sol Strategies’ fully diluted mNAV still sits significantly higher than that of rival operators.

Sol Strategies’ Year of Expansion

While many DATs have laid low in 2026, Sol Strategies has taken the opposite approach, attempting to evolve from a simple treasury company into a diversified infrastructure provider. 

Sol Strategies embarked on a slew of acquisitions so far in 2026, bringing two budding privacy protocols into its business. After acquiring Darklake Labs in April, Sol Strategies doubled down on its privacy expansion, absorbing HoudiniSwap in early May.

With HoudiniSwap having reportedly generated $13M in revenue in 2025, Sol Strategies is optimistic that the ongoing operation of the platform will help to supplement the firm’s staking operations.

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