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Sol Strategies (CSE: HODL, OTC: CYFRF) has completed its acquisition of four blockchain validators from Cogent Crypto. The acquisition increases Sol Strategies’ total delegated SOL to 941,224, valued at CAD $336.18M, with additional token delegations on SUI, Monad, and Arch blockchains valued at CAD $172.02M. The expected yearly net income from Cogent’s Solana validator operation is projected at CAD $6.78M, based on current market conditions. The company has assumed full operational control of the validators following regulatory approval.
Sol Strategies (CSE: HODL, OTC: CYFRF) ha completato l’acquisizione di quattro validatori blockchain da Cogent Crypto. L’acquisizione aumenta il totale dei SOL delegati di Sol Strategies a 941.224, valutati a CAD $336,18 milioni, con ulteriori deleghe di token sulle blockchain SUI, Monad e Arch, valutate a CAD $172,02 milioni. Si prevede che il reddito netto annuo dall’operazione dei validatori di Solana di Cogent si attesti a CAD $6,78 milioni, sulla base delle attuali condizioni di mercato. L’azienda ha assunto il pieno controllo operativo dei validatori dopo l’approvazione regolamentare.
Sol Strategies (CSE: HODL, OTC: CYFRF) ha completado su adquisición de cuatro validadores de blockchain de Cogent Crypto. La adquisición aumenta el total de SOL delegados de Sol Strategies a 941,224, valorados en CAD $336.18 millones, con delegaciones adicionales de tokens en las blockchains SUI, Monad y Arch, valoradas en CAD $172.02 millones. Se espera que el ingreso neto anual de la operación del validador de Solana de Cogent se proyecte en CAD $6.78 millones, basado en las condiciones actuales del mercado. La empresa ha asumido el pleno control operativo de los validadores tras la aprobación regulatoria.
Sol Strategies (CSE: HODL, OTC: CYFRF)가 Cogent Crypto로부터 네 개의 블록체인 검증자를 인수하는 것을 완료했습니다. 이번 인수로 인해 Sol Strategies의 총 위임 SOL은 941,224로 증가하였으며, 이는 CAD $336.18M의 가치가 있습니다. SUI, Monad 및 Arch 블록체인에 대한 추가 토큰 위임도 CAD $172.02M로 평가됩니다. Cogent의 Solana 검증자 운영에서 예상되는 연간 순수익은 현재 시장 상황을 기반으로 CAD $6.78M로 예상됩니다. 이 회사는 규제 승인을 받은 후 검증자에 대한 완전한 운영 통제권을 갖게 되었습니다.
Sol Strategies (CSE: HODL, OTC: CYFRF) a finalisé l’acquisition de quatre validateurs blockchain de Cogent Crypto. Cette acquisition porte le total des SOL délégués de Sol Strategies à 941,224, d’une valeur de 336,18 millions de CAD, avec des délégations de tokens supplémentaires sur les blockchains SUI, Monad et Arch d’une valeur de 172,02 millions de CAD. Le revenu net annuel attendu de l’opération de validateur Solana de Cogent est projeté à 6,78 millions de CAD, basé sur les conditions de marché actuelles. L’entreprise a pris le plein contrôle opérationnel des validateurs après approbation réglementaire.
Sol Strategies (CSE: HODL, OTC: CYFRF) hat den Erwerb von vier Blockchain-Validierern von Cogent Crypto abgeschlossen. Der Erwerb erhöht die insgesamt delegierten SOL von Sol Strategies auf 941.224, die mit CAD $336,18 Millionen bewertet werden, sowie zusätzliche Token-Delegationen auf den Blockchains SUI, Monad und Arch, die mit CAD $172,02 Millionen bewertet werden. Das erwartete jährliche Nettoeinkommen aus der Solana-Validator-Betrieb von Cogent wird basierend auf den aktuellen Marktbedingungen auf CAD $6,78 Millionen geschätzt. Das Unternehmen hat nach der Genehmigung durch die Aufsichtsbehörden die vollständige operative Kontrolle über die Validierer übernommen.
Positive
- Acquisition increases total delegated SOL to 941,224 (CAD $336.18M)
- Additional token delegations worth CAD $172.02M from SUI, Monad, and Arch blockchains
- Projected yearly net income of CAD $6.78M from Solana validator operations
- Immediate operational control and integration of validators
Negative
- Projected income subject to market conditions, validator uptime, and token price fluctuations
Toronto, Ontario–(Newsfile Corp. – November 25, 2024) – Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) (“Sol Strategies” or the “Company”), a publicly traded, Canadian holding company that invests in the Solana blockchain and ecosystem, today announced the completion of its previously disclosed definitive agreement to acquire four blockchain validators (the “Validators”) and certain assets related to the Validators from Cogent Crypto (the “Completed Acquisition”).
The integration of Cogent Crypto’s operations is expected to deliver immediate value to Sol Strategies by increasing validator capacity and boosting staking revenue. The Company plans to maintain Cogent Crypto’s operational excellence while leveraging its resources to scale its validator network further.
The Completed Acquisition increases the total SOL delegated to the Company’s Solana validators to 941,224 SOL, valued at CAD $336,180,652. Validators on the SUI, Monad, and Arch blockchains carry additional token delegations valued at CAD $172,024,602.
According to Cogent Crypto’s Validator Profit Calculator, the expected yearly net income from Cogent’s Solana validator operation is currently projected at $6,783,157 CAD, showcasing the potential of the validator’s economic contributions to Sol Strategies’ business model.
This projection is based on current market conditions, staking levels, and Solana network performance, and is subject to change due to factors such as validator uptime, network activity, and fluctuations in token prices.
CAD to USD calculations in this news release are based on quotes from Google Finance as of November 25, 2024. SOL to CAD and SUI to CAD calculations are based on the Coinbase converter as of November 25, 2024, at 2:30 p.m., eastern time. Solana validator numbers are found on stakewiz.com and SUI validator numbers are found on https://suigo.app/.
Effective immediately, Sol Strategies has assumed full operational control of Cogent Crypto’s Validators, following the approval of the Canadian Securities Exchange and the announcement of today’s Completed Acquisition.
Leah Wald, CEO of Sol Strategies, commented: “As interest in Solana continues to expand, solidifying its position as a premier blockchain for decentralized finance, we remain focused on planting our flag firmly within the ecosystem. The acquisition of Cogent Crypto’s validators marks a pivotal moment in Sol Strategies’ mission to drive the growth and adoption of the Solana ecosystem. By expanding our staking capabilities, we are enhancing our ability to deliver value to shareholders while solidifying Solana’s role as a cornerstone of the digital asset landscape.”
About Sol Strategies
Sol Strategies is a publicly traded holding company committed to the continued development of the Solana blockchain and ecosystem through its private equity and financial markets activities. Sol Strategies seeks to leverage investment opportunities in staking rewards and Solana-based projects, allowing shareholders to indirectly participate in decentralized finance. The Company is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker HODL and on the OTC market under the ticker CYFRF.
To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.
Cautionary Note Regarding Forward-Looking Information:
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to (i) expectations regarding the characteristics, value drivers, and anticipated benefits of the Completed Acquisition, (ii) expectations regarding the Company’s future development opportunities in connection with Completed Acquisition; and (iii) expectations concerning the Company’s business plans and operations. Forward-looking information can also be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.
Forward-looking statements in this news release include statements regarding completion of the Completed Acquisition and its intended impact on the Company, the Company’s future investing plans and staking plans. There is no assurance that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.
The purpose of forward-looking information is to provide the reader with a description of management’s expectations, and such forward-looking information may not be appropriate for any other purpose. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.
None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231366
FAQ
What is the total value of SOL delegated to Sol Strategies (CYFRF) after the Cogent Crypto acquisition?
After the Cogent Crypto acquisition, Sol Strategies has 941,224 SOL delegated to its Solana validators, valued at CAD $336,180,652.
What is the projected annual income from the acquired Cogent Crypto validators?
The expected yearly net income from Cogent’s Solana validator operation is projected at CAD $6,783,157, based on current market conditions.
How much additional value does Sol Strategies (CYFRF) have in other blockchain delegations?
Sol Strategies has additional token delegations on SUI, Monad, and Arch blockchains valued at CAD $172,024,602.
