SOL Strategies Inc., a Solana-focused infrastructure and treasury firm, saw its Nasdaq-listed shares rise 20.97% after releasing its February network update. The company reported its validator network expanded to 33,568 unique wallets, up from approximately 31,000 earlier in the month. Growth was attributed in part to the firm’s STKESOL liquid staking platform, which reached over 691,000 SOL staked and surpassed 1,000 token holders since its January launch.
The company’s total assets under delegation now stand at 3.87 million SOL, encompassing both proprietary treasury stakes and third-party delegations. Proprietary validators generated roughly 1,276 SOL in monthly rewards while maintaining 99.99% uptime, reflecting robust operational infrastructure. Interim CEO Michael Hubbard highlighted the diversification of revenue streams, including treasury stake, delegated stake, liquid staking, and institutional staking services, which now underpin the firm’s growth strategy.
SOL Strategies’ fourth-quarter 2025 results reinforced its expansion trajectory, with staking and validation revenue reaching CAD$2.1 million ($1.5 million), up 69% year-on-year. Validator rewards for the quarter totaled 9,787 SOL, a 120% increase compared with the previous year. Governance updates were also announced, confirming Michael Hubbard as the permanent CEO ahead of the company’s March 31 annual shareholder meeting. The Canadian firm, previously Cypherpunk Holdings, pivoted to a Solana-focused strategy in September 2024.
